The century-old retailer is set to shutter additional locations by May 25, marking another blow to traditional shopping malls. As JCPenney battles changing consumer habits, many wonder if this iconic chain can survive the challenges still on the horizon. For over a hundred years, JCPenney has served as a go-to destination for clothes, home décor, and memorable holiday gifts. Founded in 1902, it became a staple in malls across the United States. However, the past decade saw shifting shopper preferences and tough economic conditions, and the pandemic further accelerated the move to online retail.