The news came as Penney posted a profit in the fourth-quarter compared to a loss a year ago.
The company posted quarterly sales of $3.96 billion, down 0.9 percent from $3.99 billion a year ago.
Revenue at stores opened at least a year was down 0.7 percent.
J.C. Penney is joining other department stores like Macy's who are shrinking its footprint amid challenges in the industry.
There is no word, yet, if any Roanoke/Lynchburg stores will be affected. The list of stores to close will be posted in March.
More on this story at ABC 13