JC Penney Turns Over an Old Leaf

5 Comments

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!

5 thoughts on “JC Penney Turns Over an Old Leaf”

  1. People love bargains. Everyday pricing isn’t perceived the same way that a sale price is. It might be illusion, in the end, but it’s what people have come to love.

  2. I’m glad to see JCP return to the old ways. The important part to me is getting a bargain with a coupon. That’s what gets me out the door to shop. Now if they will only improve on their styles and improve their website. I went shopping online and everything I clicked on was unavailable. A real disappointment and very frustrating.

  4. they have to much competition from other stores and they also are just a “mall” based store. the “mall” shopping has decreased largely due to the strip malls that are occupied by less expensive stores . i personally think that is the biggest reason for poor sales with the larger malls .Kohls sells comparable quality products and they are located in the strip malls where walmarts and targets are placed . the jack the prices way up will not help in my opinion.
    people have gotten used to they current way penny’s pricing is and will likely shy away even more . i think sears was another example of the “big mall” slow down, it hurt them as well

    1. interesting point, brandon. funny, last time I was home in ohio, I went looking for the JCP at the mall, only to find it had moved across the street to its own strip…very much like a Kohl’s!

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