I found the last couple paragraphs of that article especially telling:
...
Despite the anticipated store trims, Ellison stressed the importance of having brick and mortar locations, especially as a means to cut fulfillment costs with buy online, pick up in store and other e-commerce sales. He said the company is also identifying stores to serve as primary fulfillment centers.
“There is not a pure player e-commerce retailer of any scale that’s making money, and that includes the dominant companies like Amazon,” he added. “Fulfillment costs are growing at a higher rate than revenue.”
JCP is three years ahead of other retailers in that they've been downsizing that entire time. In fact, they were closing stores down so fast two years ago that Ellison said they needed a "time-out" to re-evaluate just how many brick and mortar sites they would need to have to run their e-commerce. And, interestingly, Amazon has been doing the opposite- they've been building brick & mortar for the same reason.
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