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Strategies & Market Trends : Currents of Currency

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From: The Wharf	7/26/2012 2:16:01 PM
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Good morning AG what do you think about JCP ? " Our plan has not been working for us either maybe we should try backwards." Ron Johnson, CEO of JCP said, "We're changing our strategy. We'll discontinue discount sales and coupons, but instead will make permanent and significant cuts in prices". And it did not work so 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.

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