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That means the prices for everything will rise immediately and than occasionally go on sale? I feel so much better.
JC Penny's pricing strategy failed when it decided to forgo sales for everyday low pricing. Shoppers need an incentive (coupon or markdowns) to visit a retailer. It's the nature of the department store beast. Look at Macy's. I expect coupons and sales and if I don't receive it, I don't shop there. We'll see how this new strategy works out for Penny's, but I believe the CEO's on a short leash. You can't have consecutive quarters of massive losses. I'll give him 6 months and if things don't improve, expect to see a change in leadership.
I don't even bother to go to JC Penney anymore. Huge disappointment because I used to really like shopping there. After they changed the product line, reduced their inventory and put in the huge cosmetic counter at Ridgedale, it just hasn't been the same.
Price is King, Service is Queen, and Advertising is Jack - if a CEO doesn't have have those cards in their companies hand - they've got nothing but an empty retail store, as I witnessed yesterday at a JCP.
This ambivalence as shown by JC Penney is not surprising considering that most major corporate decision making these days takes place on a computer screen without consideration of how things will pan out in the real world.
Stick a fork in them, they are done.....
I would rather everyday low prices than waiting for a sale honestly. I was starting to shop at Penney's more:( I hope the new plan in the end keeps prices lower
Once Penney's board ousts him Ron Johnson is basically unemployable at this point right? Talk about a fall from grace. Target, Apple, JC Penney's, what next? Discount Ron's 8 Track Store?
My wife has an I.Q. of about 140, but she would rather pay more on"sale" than have an everyday price that is lower.
Go figure. Ron Johnson needs to give the lady what she wants.
elmi0001-Mr Johnson is hardly unemployable. He made about 400 million at Apple. JCP was in a death spiral prior to his arrival less than two years ago. He will either fix it or it will die sooner rather than later. It was surely dead before his arrival, without some serious changes. Just for the record, Target had a near brush with death in 1973. It takes time and vision to fix a failing company. (It took Target decades to get where it is today)
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