Fashion and home retailer JCPenney is most likely to halt selling of major appliances. It will refurbish the layout of its stores to focus on apparel business to enhance profits.
The company will also plans to halt selling furniture which will now only be available at select stores in Puerto Rico and on its website.
“Optimising the allocation of store space will enable us to prioritise and focus on the company’s legacy strengths in apparel and soft home furnishings, which represent higher margin opportunities,” the company said in a press release issued.
The retailer has witnessed falling sales. It has shuttered stores across the country, cut jobs and renovated stores.
JCPenney now plans to use excess space in stores, not only for apparel nut also for certain home furnishings like curtains and bedding.
More details about the decision to get out of the home appliance business will be shared when it reports earnings on February 28, 2019.
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