Tag Archives: jcpenney

JC Penney Turns Over an Old Leaf

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At JC Penney, it’s “so long, Everyday Low Prices” and “welcome back, Big Saturday Sale!”

We last visited this topic back in May 2012 (see The Return of the Saturday Sale.) By that time, it had been decided that JCP’s experiment with ditching sales in favor of their “Fair and Square,” i.e. Everyday Low Prices, wasn’t exactly working out.

In fact, business is down 20%, a loss of $160 million. Of course, JCPenney’s CEO says, no, this is still the right idea. You just haven’t caught on yet. It’s YOUR fault, dummies! (I may have added that last bit.) …Me, MindFieldLive 5/18/12

Apparently, JCP boss Ron Johnson was determined not to panic, so he “let it ride” until they had lost a cool billion dollars.

Now, it’s Back to the Future, and JCPenney has thrown in the towel. That is, they are taking that towel and boosting its price by up to EIGHTY PERCENT…then immediately putting it on sale and slapping a “30% OFF” sticker on it!

A pair of Nike swimming trunks priced at $25, for example, has been raised to $45, according to data reviewed by The Post. A bikini top under the retailer’s Arizona label was hiked to $24 from $15, while an Arizona men’s polo shirt is now $14, up from $9, the data show. New York Post

So, it’s back to the way things once’ta was. The question is, will the customers return? I recall a lot of EMOTION surrounding the death of the Saturday sale… are you happy now? Will you go back to JCP or have you moved on? Let us know, and have a great weekend!

The Return of the Saturday Sale?

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A while back we told you about JC Penney’s new tactic: canning the big weekend sale and the coupon circular in favor of the Wal-Mart, “low-prices-always” model. Well, nobody’s buying it.

By offering year-around low prices, JCP wanted to change the customer’s belief that ‘the coupon is the golden key that unlocks the door to the biggest discounts’. But experts say consumers have a strong relationship with their coupons and aren’t likely to give them up anytime soon. “We learned coupons are a drug. They really drove traffic.” Consumer Affairs

In fact, business is down 20%, a loss of $160 million. Of course, JCPenney’s CEO says, no, this is still the right idea. You just haven’t caught on yet. It’s YOUR fault, dummies! (I may have added that last bit.)

So what’s the deal? (I’m asking.) Are you a JCP fan? Have you strayed? Do you miss The Big Saturday Sale? Is there less urgency to get there without some big sale that expires at 9pm? Let us know. And have a great weekend!