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Despite Plunging Sales, Macy's Has No Plans to Follow J.C. Penney Into This New Business

Unlike J.C. Penney (JCP - Get Report) , its rival at the other end of the mall, Macy's (M - Get Report) still has no plans to drum up sales by morphing into a home-improvement retailer.

A Macy's spokesman confirmed to TheStreet that the struggling department store retailer has no plans to enter the appliance category. The decision by Macy's to stay out of appliances is somewhat odd. First, with longtime appliance-selling king Sears Hold Corp. (SHLD - Get Report) continuing to close tons of mall stores, clearly Macy's has an opportunity to grab market share in appliances amid the U.S. housing recovery.

And second, Macy's housewares business continues to be a sales bright spot at its stores, which are having trouble selling things such as winter apparel and women's handbags. Housewares was a "good news story" for Macy's in the first quarter, points out the company's CFO Karen Hoguet on a call with analysts Wednesday, as the business benefited from an improved assortment of soft home goods such as towels and bedding.

Sales of home goods represent about 16% of...