NEW YORK (TheStreet) -- J.C. Penney (JCP) - Get Report  announced on Tuesday that it will begin selling appliances after 30 years to boost its appeal to women. 

The Plano, TX-based retailer will begin selling major appliances in 22 pilot stores starting on February 1, the company announced on Tuesday. The pilot locations will sell 90 to 150 appliance models in a showroom. 

Female consumers, which make up more than 70% of J.C. Penney shoppers, are key to the appliance purchase process, the company said in a statement. 

"Although our sales results in our home business are much improved, it still remains one of the least productive areas in the store," CEO Marvin Ellison said in a statement. "The introduction of major appliances will help us continue to significantly improve sales and gross profit per square foot in our home department." 

J.C. Penney stock is down by 2.35% to $6.84 in late morning trading on Tuesday.

Separately, recently, TheStreet Ratings rated this stock as a "sell" with a ratings score of D. The company's debt-to-equity ratio is very high at 3.42 and currently higher than the industry average. Additionally, J.C. Penney's current return on equity has slightly decreased from the same quarter one year prior, which implies a minor weakness in the organization.

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: JCP

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