J C Penney Company Inc (JCP) is hoping that home appliances will help turn its business around.
JCPenney said that it will be expanding its home appliance offerings to 500 stores and its website. It was previously testing out home appliance sales in three markets and found them to be a successful addition to its stores.
JCP will start adding home appliances to its stores in early July and will continue to bring them more stores and through the Fall. This will have half of its stores carrying the products, which will include kitchen appliances, washing machines, dryers and more.
JCPenney has been struggling over the last few years and it was recently revealed that the company drastically cut employees’ hours to combat slow sales in April.
JCP shares were up 2% as of Monday afternoon.
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