After finding success with its value-seeking customers this past holiday season, J.C. Penney (JCP) - Get Report is moving full steam ahead on several initiatives in 2016 to keep the momentum going. 

At the ICR Conference on Tuesday, the department store retailer gave details on several moves that should help boost its bottom line, in addition to its plans to close several underperforming stores. Here's a brief look at three of the most significant.

1. Remodels at 350 stores.

Beginning in April and ending in July, J.C. Penney will upgrade the shopping environment to include better fixtures and layouts in the center part of some 350 stores.

The company has piloted the improved layouts in areas such as jewelry and handbags in 15 stores, and is seeing same-store sales rise by double-digit percentages on average. Unlike J.C. Penney's major overhaul of hundreds of home departments under failed CEO Ron Johnson in 2012, J.C. Penney does not anticipate its latest remodels to be "hugely disruptive" to the shopping experience.

2. Sephora coming to more stores.

J.C. Penney will bring its popular Sephora cosmetics shops, currently in about 519 stores, to many more locations in 2016. 

After closing seven stores this year, J.C. Penney will have about 1,013 stores open in the U.S.

3. Debt will be paid back.

J.C. Penney has about $80 million in debt coming due in 2016 -- and $220 million in 2017 -- that it doesn't expect to refinance. Instead, it will pay down its debt using cash on hand, hence providing some interest expense relief. Any relief on interest payments would be welcome news -- for the nine months ended Oct. 31 the company's interest expense tallied a whopping $303 million.

According to J.C. Penney, if it does pay down its debt and delivers a good holiday season this year, it may be in line for improved ratings from the credit rating agencies. J.C. Penney has already made progress with the ratings agencies amid better business results.

In April of 2015, S&P revised its outlook on J.C. Penney to positive from stable, a move that was also taken by Moody's in June.

J.C. Penney also discussed a few smaller initiatives at the conference, including the expansion to more stores of the new Michael Strahan menswear collection. Launched last October, the collaboration with the former NFL great turned TV host has been successful, said J.C. Penney spokesman Trent Kruse.

Elsewhere, the department store retailer will launch what it's calling a boutique for plus-size women's clothing. The company is also continuing to expand the size of its women's footwear department, in some stores by as much as 30%.

One thing not on the docket for this year: bringing a downscale version of the red-hot Under Armour (UA) - Get Report brand to J.C. Penney to compete with Nike (NKE) - Get Report offerings on the sales floor. "Not yet," said Kruse when asked by an analyst about the potential to offer Under Armour.