J.C. Penney Co. Inc. said Thursday that it has partnered with Fanatics Inc. to launch Fanatics shops that sell licensed sports merchandise. The shops are located in 325 J.C. Penney locations and feature college and professional sports gear. There will be an additional 325 locations by the back-to-school season. Shops will largely be 650 square feet, except for 50 stores in the top sports markets that will be 1,300 square feet. The new stores build on a previous partnership, launched in 2014, creating the online Sports Fan Shop. J. C. Penney shares are down 14.1% for 2018 so far, while the S&P 500 index is up 3.6% for the period.