J.C. Penny To Focus On Core Business, End Subscription Services

92
J.C. Penny To Focus On Core Business, End Subscription Services

The chain of department store JC Penney is set to end its venture of online subscription service for clothing on Friday. The move is aimed to focus on apparel sales which is more profitable and will end the sale of major appliances. In December 2017, the department store had declared the new service through its partnership with Bombfell.com that provided brands of men’s clothing and private label to those customers who subscribed for regular clothing shipments. Bombfell sends five items of clothing chosen by a stylist to its customers to try them out in their home. The customers then have 7 days to decide which items they would want to keep and which ones to return. The customers who subscribed for the men’s service paid a styling fee of $20 for each order which included a personal stylist along with free shipping and return service.

In the last quarter, Penney with net sales of $2.65 billion relied on Bombfell to handle the management of the arrangement. Bombfell has presently partnered with Tommy Bahama, Lucky Brand, and Barbour and Johnnie-O. The representatives of Bombfell and Penney confirmed the news but did not give any details.

Penney is struggling to maintain its sales as more customers are moving online. The company recently cut jobs, shut some of its stores and revamped other ones as part of its turnaround plan for multi-year that acquired pace under its newly recruited Chief Executive Officer Jill Soltau. Penny had announced that it would end selling appliances like washing machines and fridges, and to revamp its stores in an effort to focus on its apparel sales to raise profits. The company has garnered a quarterly profit that is only three times since 2012. The analysts are expecting that the company will be reporting again a net loss in fourth quarter.

SHARE
Debbie Quiles
Being a tech savvy and a Degree in Computer Science, Debbie Quiles works here at Industry News Center as the head of Technology department. She has a vast experience of 7 years in this field. She is associated with Industry News Center from the last 5 years. Debbie is considered as one of the veterans in the industry and she is the one where people comes if they have any doubts or any query.

LEAVE A REPLY

Please enter your comment!
Please enter your name here