JCPenney brings back percent-off discounts
Furniture Today Staff -- Furniture Today, October 29, 2012
PLANO, Texas — JCPenney is reviving a percent-off sale offer for the first time since February, when the retailer went to everyday low pricing, the Dallas Morning News reports.
The offer, which was posted on jcp.com and sent as a text message to customers Sunday, is for 30% off already reduced clearance merchandise in stores and online through Nov. 3.
Morning News Reporter Maria Halkias said the move represents CEO Ron Johnson "tweaking" the everyday low pricing strategy, as he said he would. He had called JCPenney's former strategy of pricing high and discounting often as gimmicky, and moved to what he called a "fair and square" pricing policy.
In the first two quarters, the new policy led to 20% sales declines. The third quarter runs through October.