The closures, announced Friday, represent about 13 percent to 14 percent of the company's current store count, and less than 5 percent of total annual sales.
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.