Consumer Nation

JC Penney Hopes for a Home Run With New Launch

Daniel Acker | Bloomberg | Getty Images

J.C. Penney is hoping its new home product range will boost flagging sales and help return the retailer to its glory days, the company's CEO told CNBC.

"We are very excited to be back where the home building business is picking-up; our dot com business is likely to grow to over 50 percent home in the near future," Mike Ullman said on Thursday.

Home goods has been the retailer's worst-performing category for seven years, accounting for only 12 percent of its sales over the last fiscal year, compared to 21 percent in 2006.

But when asked if its new home department could get the retailer get back to where it was seven years ago, Ullman said: "(Home) gives us a chance to grow our business back to historical levels."