Since CEO Marvin Ellison took the reins at J.C. Penney (NYSE: JCP) two years ago, he has pushed the company into new lines of business in an attempt to boost sales even as mall traffic continues to decline. On Thursday, J.C. Penney officially announced the newest piece of this turnaround effort: opening toy shops in all of its stores.
Toy shops certainly won’t be a panacea for J.C. Penney’s problems. Nevertheless, they are a promising addition to the merchandise mix at J.C. Penney.