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JCPenney-thredUP Deal: JCP Stores Will Sell Used Clothes

A JCPenney-thredUP deal will have the retail chain selling used clothes in its stores.

JCPenney-thredUP Deal: JCP Stores Will Sell Used Clothes
Source: Supannee_Hickman / Shutterstock.com

The deal between JCPenney (NYSE:JCP) and thredUP will have the chain’s working together to sell used clothing for women. This will be possible with sections between 500 sq. ft. and 1,000 sq. ft. popping up in some JCP locations.

So what stores will the JCPenney-thredUP deal affect. The new release from JCP doesn’t go into detail about which of its stores will be selling used clothing. However, it does note that the change will be coming to 30 of its locations.

According to the two companies, the JCPenney-thredUP deal will have them refreshing each store’s used clothing section every week to show off different items. Items that customers can purchase include handbags and clothing. JCP is betting that being able to try on clothes before purchasing will help customers get over the fact that they are secondhand.

The JCPenney-thredUP deal will also still benefit customers that are part of the retail chain’s loyalty program. This is due to purchases of the used clothing still earning customers JCPenney Rewards.

“While there are more secondhand shoppers than ever before, we’ll continue to test and evaluate how this resonates with customers,” Michelle Wlazlo, Executive Vice President and Chief Merchant for JCPenney, said in a statement . “We’re excited about the prospect of creating a new in-store experience that makes high-end brands attainable, as well as catering to eco-minded consumers who want more sustainable options in their wardrobe.”

JCP stock was up 3% as of noon Friday.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2019/08/jcpenney-thredup-deal-brings-used-clothes-to-stores/.

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