January 26, 2012

No More Sales at J.C. Penney?

via HuffPo: J.C. Penney is permanently marking down all of its merchandise by at least 40 percent so shoppers no longer have to wait for sales to get bargains.

Penney said Wednesday that it is getting rid of the hundreds of sales it offers each year in favor of a simpler approach to pricing. Starting on Feb. 1, the retailer is rolling out an "Every Day" pricing strategy with much fewer sales throughout the year.

The plan, the first major move by Apple executive Ron Johnson since he became Penney's CEO in November, is different from Wal-Mart's iconic everyday low pricing. Unlike Wal-Mart, Penney's goal isn't to undercut competitors, but rather to offer customers more predictable pricing. Continue reading this article HERE.

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