Posted on 01/29/2013 1:05:40 AM PST by rawhide
J.C. Penney is bringing back sales.
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. For store-branded items such as Arizona, Penney will show comparison prices from competitors.
The reversal comes on the eve of the one-year anniversary of its original vow 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.
The bold plan has been closely watched by others in the retail industry, which commonly offers deep discounts to draw shoppers. But so far the experiment has served as a cautionary tale of how difficult it is to change shoppers' habits: Penney next month is expected to report its fourth consecutive quarter of big sales drops and net losses. After losing more than half of its value, Penney's stock is trading at about $19. And the company's credit ratings are in junk status.
Johnson, who rolled out the pricing plan shortly after taking the top job in November 2011, told The Associated Press the latest moves are not a "deviation" from his strategy but rather an "evolution."
*snip*
(Excerpt) Read more at ajc.com ...
When JCP changed their whole format, they lost me as a customer even in the catalog sales department, where most of my shopping was done. I made not one catalog purchase from them last year. This will probably continue.
JCP is going the way of K-Mart. When K-Mart was still open in my town, whenever I went shopping there, I would ask myself: 'What am I doing here?' and quickly left. I now say the same thing to myself about JCP. I just feel kinda out of place in their store now.
Bump that - - I love Kohl's.
Funny how there’s no mention of JCP’s attempt a couple of years ago to become the destination store for homos by airing those offensive TV commercials. I think that’s what got the last CEO dumped.
This sales strategy sounds sort of quaint, like something they would announce as a great innovative breakthrough in North Korea.
I’m sure their PRO-Gay stance will save them!
I feel like I am shopping in Mexico at my JCP. Who wants to go there.
I was a big JCP customer, mostly by catalog. I even had a JCP credit card.
This was, of course, 20 years ago, back when America was the USA.
Everything there seems to be falling like a house of cards as the country becomes the USSA.
What I like (/s) are retailers who advertise "new low price" when it's more expensive than it had been the week before at regular price.
The lack of sale items worked for Apple Stores because Apple was driven by interest in new products that had huge rollouts. You don't have that in ready to wear clothing. Johnson may have been too smart for his own good.
“told The Associated Press the latest moves are not a “deviation” from his strategy but rather an “evolution.”
I’ll have to use this next time when I do something really stupid.
Used to go to Kohl’s often enough, but not lately.
Daughter does shop there, but says prices are quizzically high, and only shops when there’s sales and coupons and whatever.
Always liked Penney’s, and hope they recover.
Watched a store close a bit ago that I liked.
Mervyn’s.
When Kohl’s came to town, I immed. thought it was competition for Mervyn’s - - and it did up and close - all over, I think.
Kohl's is fantastic. I hope they don't screw it up.
I have gotten used to the Penney’s square-in-a-square logo.
Think it’s crisip and clear, now.
Yes, I’m ignoring everything else in the post - !
‘_______even Macy’s looks like K-Mart.’
Hey - I like our K-Mart - great store in this So. CA large town, small city!
Over the years, K-Mart has closed in surrounding cities - lucky for us we still have one here.
I like Kohl’s too except for their carts which I hate, but otherwise love the store.
JCP’s new ad campaign freaks me out - sort-of Old Navy-ish, but they don’t get that the Old Navy ads are meant to be a joke - if you’re serious with that type of advertising....you’re just creepy.
Yea, what is it with those stupid carts at Kohl’s?? Wonder what MBA, PHd management type thought it was a good idea?
I agree 100% about those carts!
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