J.C. Penney Co. Inc. said Monday that it will expand its new appliance showroom to nearly 500 stores between July and the fall after a three-market pilot proved successful. Appliances will also be available on the retailer’s website. Appliances were re-introduced in San Diego, San Antonio and Tampa, Fla. on February 1. The company said it will also allocate additional floor space to window coverings including curtains and shades. J.C. Penney is testing a new furniture line, Signature Design by Ashley, from family-owned Ashley Furniture, and flooring offerings in Tampa, Fla and Washington D.C. through a venture with Empire Today. In addition, J.C. Penney announced that it exceeded earnings before interest, taxes, depreciation and amortization expectations for the fiscal first quarter ahead of the earnings announcement on Friday. The company says it still expects to achieve its full-year EBITDA guidance of $1 billion. The announcement comes after a New York Post report on Friday that the company was taking cost-cutting measures like cutting hours. Shares fell Friday, but are up 0.7% in Monday trading. J.C. Penney shares are up 25% for the year-to-date while the S&P 500 is up 0.9% for the same period.
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