Home / Fashion/ J.C. Penney pushes into toy sales in move away from apparel

J.C. Penney pushes into toy sales in move away from apparel


Comments / {{hitsCtrl.values.hits}} Views / Tuesday, 1 August 2017 00:01


Reuters: Department store operator J.C. Penney Co Inc said it was opening toy shops in all its stores and was planning to have a bigger assortment of toys available in time for the holiday season, as it seeks new avenues of growth amid weak sales.

The retailer also said it had doubled its online assortment of toys over the last year.

Penney — which has over 1,000 stores — will sell toys from brands including Mattel’s Fisher Price, Hasbro and Playmobil, with some stores also featuring a play area.

The retailer has said it is looking to cut its dependence on apparel, which made up more than half its sales last year, as more shoppers buy online and from fast-fashion rivals such as Forever 21.

Penney reported a third straight fall in quarterly sales in May and said it expects the drop in apparel sales to be worse than the overall comparable store sales decline through the year.

The change in consumer shopping habits has also led rivals such as Macy’s Inc and Kohl’s Corp to report weak sales in recent quarters.

Penney started selling home appliances last year after a gap of more than 30 years and has said the category helped attract new customers. The retailer said it was expecting second-quarter sales to significantly improve from the first quarter.

 


Share This Article


COMMENTS

Today's Columnists

Is Iran a threat to global peace?

Saturday, 18 November 2017

The aim of this article is to explore Iran’s nuclear program and its consequences throughout the world. Iran one of the nuclear power countries in the Middle East, which has brought very grave concern to the US.


Maldives forcefully voices plight of small island states at climate change conference

Saturday, 18 November 2017

The plight of small island states was forcefully voiced by Maldivian Minister for Environment and Energy Thoriq Ibrahim at the 23rd Conference of Parties to the UN Convention on Climate Change (COP23) being held in Bonn, Germany.


The Blue Green Budget of the Unity Government

Friday, 17 November 2017

The Budget proposals of the Unity Government under the theme ‘Blue Green Budget’ for the fiscal year 2018 are expected to support the achievement of medium-term targets such as Per Capita Income of $ 5,000


Starship budgets and the “Bicycle Brigade”

Friday, 17 November 2017

One has only to read the wide and varied responses to Budget 2018 (B18) to realise how fissured our society is.


Columnists More