as it restructures in bankruptcy, and some store closures will include locations where Sephora operated its shop-in-shop. Before the bankruptcy, Sephora operated about 600 shops inside of JCPenney department stores, which it calls SiJCP. Sephora has about 2,600 locations worldwide.
A representative for JCPenney did not immediately return Business Insider's request for comment on Sephora's layoffs. "For JCPenney, it is both a driver of revenue and, more importantly, a driver of foot traffic into the store. Having a Sephora in a store also allows JCPenney to capture some of the younger shoppers that would not otherwise venture in," Neil Saunders, managing director at GlobalData Retail, said in comments emailed to Business Insider.
In 2019, UBS analysts went as far as saying that having a large presence at JCPenney and in malls — where customer foot traffic has dwindled — wasAccording to UBS research done at the time, Ulta had a store within a 10-minute drive of 78% of the Sephora locations inside JCPenney stores.
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