• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Ed Sheeran asked Patriots owner Robert Kraft for $2 million aid donation after Macklemore was dropped from his tour for pro-Palestine comments

2

Billionaire TikTok founder is now the richest person in all of Asia, with a $105 billion net worth—he's gained $92 billion since 2019 thanks to AI

3

Meet Warren Buffett's son Howard, a former sheriff, war photographer, and now, Berkshire's new chairman

1

Ed Sheeran asked Patriots owner Robert Kraft for $2 million aid donation after Macklemore was dropped from his tour for pro-Palestine comments

2

Billionaire TikTok founder is now the richest person in all of Asia, with a $105 billion net worth—he's gained $92 billion since 2019 thanks to AI

3

Meet Warren Buffett's son Howard, a former sheriff, war photographer, and now, Berkshire's new chairman
RetailJ.C. Penney

J.C. Penney Looks for Source of New Business in Hotel Industry

Phil Wahba
By
Phil Wahba
Phil Wahba
Senior Writer
Down Arrow Button Icon
Phil Wahba
By
Phil Wahba
Phil Wahba
Senior Writer
Down Arrow Button Icon
May 18, 2017, 12:19 PM ET
Google source logo
Add Fortune on Google for similar content.

Since individual consumers seem to be losing interest in J.C. Penney (JCP), the struggling department store is taking aim a potential new set of customers: other businesses.

Penney, which last week reported a dismal first quarter and whose shares are trading near all-time lows, said on Thursday it planned to leverage its new home services business to try to win more sales from hotels and other lodging companies.

The company last year resumed selling appliances after 33 years and currently is testing offering home services such as bathroom remodeling and blinds installation, and selling and installing awnings, as it looks to reduce its reliance on the dwindling apparel sector and boost sales in its home business with big-ticket items. Penney gave credit for the idea to sell to hotels to those businesses themselves, who it said were already placing big orders of bedding, bath and window treatments from its web site.

“Our entry into the B2B (business-to-business) program reinforces our home refresh initiative, while providing new and innovative ways to achieve sustainable growth and profitability,” J.C. Penney CEO Marvin Ellison said in a statement.

Penney will use an outside sales force to line up new businesses, which will also include residential property managers, and says its private brands of home items like towels and sheets will give it an edge on cost.

Ellison estimated the U.S. hospitality industry is a $200 billion sector that offers significant opportunity for JCPenney to gain market share” and get more business out of each customers. If it takes, it could be a way for Penney to be less reliant on clothing and less exposed to malls’ dwindling shopper traffic. And it would allow Penney to offer something different from Macy’s (M)and Kohl’s. (KSS) Penney also said it will be expanding its mattress showrooms to an additional 300 stores by early fall.

Penney could use a home run right about now; last week it reported comparable sales fell 3.5% in the first fiscal quarter, well below what Wall Street expected, a disappointment given gains in its home and beauty businesses that shows just how troubled its apparel business is.

About the Author
Phil Wahba
By Phil WahbaSenior Writer
LinkedIn iconTwitter icon

Phil Wahba is a senior writer at Fortune primarily focused on leadership coverage, with a prior focus on retail.

See full bioRight Arrow Button Icon

Latest in Retail


Most Popular

Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

    Latest in Retail


    Most Popular

    © 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
    FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.