J.C. Penney Co. said it has hired...

J.C. Penney Co. said it has hired Kidder, Peabody & Co., a financial adviser, to help it “explore alternatives” for its Telaction Corp. home-shopping subsidiary. Duncan Muir, a Penney spokesman, said the options might include selling the operation or bringing in investors. “The purpose of this is to see what direction we go in to make this a commercially feasible project,” he said, adding that the venture has already cost Penney $85 million. The service, an interactive television marketing system, is now available to more than 25,000 Chicago-area homes with cable.