PLANO, Texas - Department store giant JCPenney says it will no longer sell furniture in its stores. The company will also discontinue selling major appliances beginning February 28.
"While configurations vary by store, we are finalizing new layout options, including the reduction of store space previously dedicated to appliance and furniture showrooms to maximize efficiencies, reduce inventory and create an enhanced shopping experience that inspires repeat shopping trips," the company said in a press release. "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."
"Customers can purchase major appliances in stores and online through Feb. 28 and receive free basic delivery and installation on new model purchases over $299. All protection plans and manufacturer’s warranty agreements will remain in effect for the applicable warranty period."
The company has failed to turn a profit since 2010 and is reportedly $4 billion in debt. Executives are considering closing some of the chain's remaining 860 stores.
JCPenney says more information on this decision will be available after it reports its fourth-quarter results at the end of February.
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