JCPenney is closing down stores. It knows that building new stores is a risk. If a new store doesn't do well, it will lose a ton of money closing it down. However, JCPenney has announced that it is expanding its heating and air conditioning solutions, bathroom remodeling services, blinds services, smart home devices, and home water solutions.
http://ir.jcpenney.com/phoenix.zhtml?c= ... ID=2253521
These types of services are very lucrative and profitable and they don't have to open new stores. Now that Sears looks like it will be gone soon, JCPenney can take advantage of the situation and make some money.
There is a resurgence in the housing market and people are looking for home services and upgrades.
Why stop there? Break down those walls and go after the Home Depot. Expand the store into home improvement and then add some auto centers. Toss in some Starbucks cafes and open a Dunkin' Donuts as well.
JCPenney Home Improvement Services
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Re: JCPenney Home Improvement Services
looks like a sure loser. Sears did ok with this business because they'd been selling appliances for decades. probably the brainchild of Wall Street analysts or some numbskull in upper middle management hoping to become CEO.
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Re: JCPenney Home Improvement Services
The JCP CEO is a former Home Depot person. He is doing what he knows how to do.
I wouldn't trust JCP for any of these services. Their customer service in the store is TERRIBLE. Their corporate customer service center which is actually staffed by company employees (not a third party) is not really any better.
Entering new lines of business when the current line of business is failing is an interesting strategy. I hope there are a lot of other customers who would trust JCP for these services to make this work.
I think JCP should buy what is left of Radio Shack and add in-store Radio Shack departments. Perhaps they can go into the business of TVs, car stereo, etc. while they are at it. Perhaps they could market all of that under the Radio Shack name. They could convert the old catalog departments/storage areas into bays to install the car stereos. They could also go into the tire business via those service bays. The possibilities are endless. When you are already losing money like they are, what's a little more losses? Maybe something will actually work. May as well try anything.
I wouldn't trust JCP for any of these services. Their customer service in the store is TERRIBLE. Their corporate customer service center which is actually staffed by company employees (not a third party) is not really any better.
Entering new lines of business when the current line of business is failing is an interesting strategy. I hope there are a lot of other customers who would trust JCP for these services to make this work.
I think JCP should buy what is left of Radio Shack and add in-store Radio Shack departments. Perhaps they can go into the business of TVs, car stereo, etc. while they are at it. Perhaps they could market all of that under the Radio Shack name. They could convert the old catalog departments/storage areas into bays to install the car stereos. They could also go into the tire business via those service bays. The possibilities are endless. When you are already losing money like they are, what's a little more losses? Maybe something will actually work. May as well try anything.