JC Penney CEO Ron Johnson capitulates, brings back sales

“J.C. Penney is bringing back sales,” Anne d’Innocenzio reports for The Associated Press. “The struggling department store chain this week will begin adding back some of the hundreds of sales it ditched last year in hopes of luring shoppers who were turned off when the discounts disappeared, CEO Ron Johnson told The Associated Press.”

“Penney also plans to add price tags or signs for more than half of its merchandise to show customers how much they’re saving by shopping at the chain – a strategy used by a few other retailers,” d’Innocenzio reports. “For store branded items such as Arizona, Penney will show comparison prices from competitors. The moves are a reversal for Penney on the eve of the one-year anniversary when it vowed to almost completely get rid of the sales that Americans covet but that cut into a store’s profits. The idea was to offer everyday low prices that customers could count on rather than the nearly 600 fleeting discounts, coupons and sales it once offered.”

d’Innocenzio reports, “Johnson, who rolled out the pricing plan shortly after taking the top job in November 2011, told The Associated Press that the latest moves are not a “deviation” from his strategy but rather an ‘evolution.’”

Read more in the full article here.

MacDailyNews Take: An evolution in pedaling, in this case, “back.”

Forget this department store crap and come on back, Ron! After a brief clown show, Tim’s hiring.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: