J.C. Penney's (JCP) home furnishings merchandise could be hurt by Amazon's (AMZN) push into the furniture space, according to TheStreet's Action Alerts PLUS Portfolio Manager Jim Cramer.

"When you see a Penney, you say to yourself, why does it need to exist?" Cramer pondered, adding that the Sephora kiosks are a positive part of the J.C. Penney picture. 

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