Penney's slashing prices on all merchandise |
| USA TODAY - Jan 25, 2012 |
J.C. Penney is permanently marking down all of its merchandise by at least 40% so shoppers will no longer have to wait for a sale to get the lowest prices in its stores.
Penney (JCP) said Wednesday that it is getting rid of the hundreds of sales it offers each year in favor of a simpler approach to pricing. On Feb. 1, the retailer is rolling out a three-tiered strategy that offers "Every Day" low pricing daily, "Monthly Value" discounts on select merchandise each month and clearance deals called "Best Price" during the first and the third Friday of each month when many shoppers get paid.
The plan is similar to Wal-Mart Store's (WMT) iconic everyday low pricing strategy except that Penney's goal isn't to undercut all competitors. Instead, Penney aims to take the guesswork out of shopping in its stores by offering customers fewer sales and more predictable pricing.
Read Full Article from USA TODAY
- Posted: 2012-01-25 10:56:02
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