JC Penney tweaks pricing strategy again

by Deepak Sharma on Friday, July 27, 2012

JC Penney tweaks pricing strategy again

J.C. Penney is changing its pricing - again.

Just six months after the mid-priced department store chain got rid of the hundreds of sales it offered each year in favor of everyday lower pricing, it is reversing course.

Penney on Feb. 1 began using a three-tier pricing approach that called for consistently lower daily prices, month-long sales and periodic discounts on merchandise throughout the year. But starting Aug. 1, Penney will eliminate one of the monthly sales and bring back the word "clearance." Penney also plans to tweak its advertising to better communicate the pricing plan to customers.

One comment

Penny team looks a confused lot in the wake of some serious competition and low sales for a long period.

by Anonymous on 12:33 AM. #