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Do “Price Events” Show a New Flexibility in JCPenney’s No-Sale Policy?

In Industry News, Marketing, What's New by Accessories StaffLeave a Comment

Plano, TX—Shares of JCPenney edged up this week after plummeting upon the department store’s third quarter report in November. Some retail analysts suggests that the market is reacting to JCPenney’s recent sales promotion offers. When Ron Johnson, JCP’s chief executive, announced nearly a year ago that the retailer would no …

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JCPenney Tweaks Price Strategy—Again

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Plano, TX—JCPenney is reportedly rethinking one of the points in its three point everyday low pricing strategy and bringing back “clearance” to its promotional vernacular. When the department store implemented its “Fair and Square” strategy in February, eliminating coupons and price-off discounts, all merchandise was priced as either everyday low …

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JCPenney Eliminates 350 More Jobs at “Leaner” Home Office

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Plano, TX—Saying that JCPenney’s “leaner and more simplified operating structure is fundamentally complete,” Ron Johnson, the retailer’s ceo, said today that another 350 employees would be eliminated from its headquarters here. “In April, we began right-sizing our headquarters from a people perspective to align our teams with JCPenney’s new business …

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JCPenney President Departs, CEO Johnson to Assume Duties

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People

Plano, TX—Michael Francis, the former Target chief marketing officer hired to help get the message out about JCPenney’s transformation, has left the company, JCPenney said Monday. Francis, who was president at JCPenney, left the company effective Monday. Chief executive officer Ron Johnson will assume Francis’ marketing, merchandising and sourcing duties. …

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JCPenney’s Biggest Shareholder Has “Patience” for New Strategy

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People

New York–Despite its larger-than-expected first quarter loss and a 20% slump in its sales, JCPenney’s largest shareholder and board member William Ackman said Tuesday that he has complete faith in the department store’s “Fair and Square” strategy. Ackman, who is ceo and founder of Pershing Square Capital, which holds an …

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JCPenney Eliminates Sales Commissions as Part of New Strategy

In Industry News, Reports, What's New by Accessories Staff1 Comment

Plano,TX—As JCPenney’s CEO Ron Johnson continues to roll out “transformative Fair and Square” changes in the department store, the latest casualty is apparently commissioned sales associates. Earlier this week the Dallas Morning News reported that sales associates in shoes, jewelry, salon, furniture and men’s suits were told they would no …