The company's former CEO, Marvin Ellison, who's now chief executive of Lowe's, brought back appliances in 2016 after the retailer had spent more than three decades focusing primarily on soft goods like apparel. He saw an opportunity to get into the business as Sears, which has now filed for bankruptcy, was steadily losing market share.
J.C. Penney said in a blog post Wednesday that it will no longer sell major appliances in its stores starting Feb. 28 "in order to better meet customer expectations, improve financial performance and drive profitable growth."
The company also said that furniture is soon only going to be available online and in select stores in Puerto Rico.
It plans to use excess space in stores, moving forward, to focus on its "legacy" categories like apparel and certain home furnishings like curtains and bedding, which it calls out as "higher margin opportunities."