“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,” the company said in the statement.
»BIZ BEAT: H&M planning hundreds of store closures
Shoppers who buy new model appliances through Feb. 28 for more than $299 will receive free basic delivery and installation. All protection plans and manufacturer’s warranty agreements will remain in effect.
Like other major department stores, JCPenney has been struggling to keep up with changing consumer shopping habits. It recently announced plans to close at least three stores, and is considering more, after holiday sales didn't reach expectations.
More information will be available Feb. 28 when the store announces its fourth quarter earnings.
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