By Daniel Hunter

JC Penney and Macy's, two of the US' biggest department stores, have announced thousands of job cuts and store closures.

JC Penney is to close 40 of its 1,060 stores, resulting in around 2,250 job cuts. Macy's will close 14 of its 790 stores, at a cost of more than 1,300 jobs - but it will open two new stores.

Like so many other retailers, the department stores have been affected by the huge growth of online sales.

But JC Penney earlier this week reported a 3.7% rise in same-store sales for the last two months of 2014,FIFA Coins compared with last year. Its decision to cut jobs and close stores comes exactly one year after a previous restructuring plan which involved 2,000 job losses and 33 store closures.

Macy's said same-store sales were up 2.1% in November and December. It also said it expects to save $140m from the latest restructuring. Macy's too announced its previous job cuts and store closures a year ago - then, it was five stores and 2,500 jobs.

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