J.C. Penney to Drop Major Appliances After 3-Year Run
NEW YORK (AP) -- J.C. Penney will no longer be selling major appliances, ending its three-year run.
The Plano, Texas-based department store chain also says on its company blog that furniture will only be available on its website and in Puerto Rico stores.
The move marks the first major initiative by the company's new CEO Jill Soltau to try to turn around J.C. Penney's business.
Sales of appliances will be discontinued as of Feb. 28. The company says it wants to go back to focusing on its heritage of fashion and home furnishings, which carry higher profit margins.
Under its former CEO Marvin Ellison, J.C. Penney returned to selling major appliances after 33 years to decrease its reliance on fashion and respond to shifting consumer habits.