J.C. Penney Co. Inc. recently announced that next month they will start selling home appliances in their stores again after over 30 years. Chief Executive Marvin Ellison said, “The introduction of major appliances will help us continue to significantly improve sales and gross profit per square foot in our home department.” For 2014, sales of home goods accounted for about 12% of the chain’s total sales. J.C. Penney plans to sell kitchen and laundry appliances in 22 pilot stores beginning February 1st.
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Story Source: Reuters