(Bloomberg)—J.C. Penney Co. plans to stop selling major appliances as new CEO Jill Soltau overhauls the troubled department store chain, the company said.
The retailer will also end sales of furniture in U.S. stores and will only sell the category online. These changes take effect on Feb. 28.
The company made the move to “better meet customer expectations, improve financial performance and drive profitable growth,” it said in a statement posted to its website.
“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,” it said.
Soltau, who stepped into the role in October, began a mission to streamline the 116-year-old retailer, closing under-performing stores and clearing out slow-moving goods to kick-start sales and improve margins.
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