JCPenney will not sell home appliances anymore. The retail company will remove the items in its stores after Feb. 28.
The company announced the decision on Wednesday, Feb. 6. The decision is surprising because JCPenney only started to sell home appliances again less than three years ago.
It can be recalled that the company brought back home appliances in its stores after 33 years and now it seems that it will be scrapping the items for good. Then again, the consumers can still buy JCPenney's furniture and appliances via online and some stores in Puerto Rico.
According to CNBC, the move to take out the appliances is one of the first major decisions of Jill Soltau, JCPenney's new chief executive officer. This is a major change and she did it to help stabilize the company.
Aside from taking the appliances away from the stores, it was reported that JCPenney will also close down three stores and this may include the outlet in Eastwood Mall, Shenango Valley Mall and the Southern Park Mall. In the coming days, the company may announce more stores to close down.
Now, via press release that was posted on JCPenny's blog, it was further explained that the company is hoping to improve its financial performance this year, increase profits and meet the customers 'expectations better. It was also revealed that they are planning to revamp a number of its stores.
"While configurations vary by store, we are finalizing new layout options, including the reduction of store space previously dedicated to appliance and furniture showrooms to maximize efficiencies, reduce inventory and create an enhanced shopping experience that inspires repeat shopping trips," part of the statement reads.
It was added, "Optimizing the allocation of storage space will enable us to prioritize and focus on the Company's legacy strengths in apparel and soft home furnishings, which represent higher margin opportunities."
Finally, in the opinion of others, there are few reasons why JCPenney failed to sell its appliances and it has come to the point that they will be removed from the stores. This Is Insider pointed out that one thing is that, people may not know that the company is also selling appliances since it is mostly known as clothing and apparel store. Perhaps, there is a lack of advertisement for the products, but it is too late for this now.
