Bitcoin sets a new all-time high above $6,000 >>> READ MORE

JCPenney Launches New Home Boutique

Move seen as last chance for CEO Johnson


J.C. Penney (NYSE:JCP)In another move to boost flagging sales, troubled retailer JCPenney (NYSE:JCP) is opening new boutiques.

The new home boutiques — the first of which opens April 5 — are designed to rebrand the store as a place to decorate and outfit a home, reports Reuters.

The move will eventually put the boutiques in 500 of the company’s 1,100 stores. Each new section will feature brand name items from top designers and feature up to 20 different shops when renovations are completed.

The home goods makeover is seen as crucial to the survival of CEO Ron Johnson. The former Target (NYSE:TGT) and Apple (NASDAQ:AAPL) executive has been controversial at JCPenney as his initiatives have not been successful in turning the company around. Johnson himself describes the new boutiques as “pivotal” to the hopes of reviving the chain.

The move may be pivotal for Johnson as well. Sources at the company say that Johnson may be forced out by JCPenney’s board of directors if the chain’s performance doesn’t improve soon.

More stories about retailing:

Article printed from InvestorPlace Media,

©2017 InvestorPlace Media, LLC