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

Tuesday, 1 August 2017 00:01 - - {{hitsCtrl.values.hits}}

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.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.