The company, which opened its doors to shoppers at 3 p.m. on Thanksgiving Day, said that new products, including appliances and toys, drove sales volume online and in stores on Thursday and Black Friday. It did not give specific sales figures. J.C. Penney has introduced appliances in 500 of its stores.
In its third quarter earnings, reported Nov. 11, J.C. Penney (NYSE: JCP) said appliances had already logged a 200 basis point sales benefit in October and that the category is expected to bring in additional sales during the holidays. The company completed a roll out of appliance showrooms to 500 stores during the quarter.
J.C. Penney added the fourth quarter is the busiest appliance selling period of the year, and it plans to continue emphasizing high-ticket revenue in appliances in upcoming days.
“More than ever, consumers are choosing to spend their money on updating and refreshing their home and we believe that J.C. Penney is in a unique position to offer a compelling assortment within major appliances,” J.C. Penney chairman and CEO Marvin Ellison said in the company’s third quarter earnings call.
“We are obviously very excited about our appliance business in Q4 given the early success we have seen in this category,” Ellison added. “We're going to have 500 net new showrooms and over 1,200 (products) online in the most important holiday selling season for appliances.”
In its earnings results, the retailer also said it was introducing toys to its merchandise assortment after listening to feedback from its customer base. According to the National Retail Federation, toys made up 32 percent of gift items purchased nationwide during the Thanksgiving weekend.
“Toys generate excitement (and) frequency … and we think it will help to elevate our holiday offering as well as elevate our relevance,” Ellison said.
Apart from appliances and toys, the retailer’s most popular Thanksgiving and Black Friday deals included $2.99 towels, $7.99 small electronics, $19.99 boots and $20 diamond stud earrings. The earrings in particular drove additional interest in fashion gems, gold and watches.
“It’s clear that customers made J.C. Penney their first choice for Black Friday shopping this year — in fact, we saw record-breaking online and mobile traffic with no service interruptions,” J.C. Penney chairman and CEO Marvin R. Ellison said. “The holiday season is just beginning, but we are highly encouraged that our customer feels confident to shop.”
J.C. Penney’s highest-performing products reflect the company’s decision to pivot away from apparel-dependent sales. The retailer has started emphasizing other categories like its home, salon, fine jewelry and Sephora products in an effort to diversify to non-weather-dependent revenue streams.
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