J.C. Penney Will Stop Selling Appliances in Latest Strategy Lurch [Fortune]
Macy's Inc (M)
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Source: Fortune
J.C. Penney Will Stop Selling Appliances in Latest Strategy Lurch (jcp) on Wednesday resumed selling appliances in 2016 The Depot But appliance shoppers did not leave Sears, for decades the biggest appliance seller in the country, for Penney; instead they continued to defect to Depot, Lowe’s Best Buy (bby) “Optimizing the allocation of store 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,” Penney said in a statement. The news was first reported Penney will continue to sell appliances in stores and online until Feb. 28 and offer free basic delivery and installation on new model purchases over $299. The department store chain will also remove furniture (except mattresses) from its stores but continue to sell it online. During the key holiday season, Penney saw comparable sales fell 3.5% Macy’s Target Kohl’s , for decades a leader in home goods, has been trying to figure o
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