JCPenney unveils new home brands
Home Accents Today Staff -- Home Accents Today, May 15, 2012
New York - JCPenney at its meeting with analysts here Tuesday evening unveiled a host of new brands for the home department, which will be revamped as of March 1, 2013 with a Martha Stewart shop as its anchor.
The 20,000-square-foot home area will also include shops or boutiques featuring products designed by Sir Terrance Conran, Jonathan Adler, Michael Graves and Bodum.
As for the Martha Stewart shops, executives did not go into detail about merchandise, president Michael Francis said JCP recently reviewed more than 3,000 potential products for the space.
JCPenney ceo Ron Johnson said home, fine jewelry and basics have seen the biggest negative sales impact from the streamlined pricing enacted Feb. 1.
However, he said he does not think customers have shifted their purchasing in those departments to rivals Kohl's or Macy's. Instead, now that JCP is no longer driving traffic with coupons, customers are no longer loading up on towels, socks and underwear.
He noted the core customer shops JCP only four times a year.