Fake prices are coming back at J.C. Penney, and this time they'll be more fake than ever. In a fresh bid to highlight Penney's prices as low, CEO Ron Johnson
is pushing some manufacturers to concoct phony suggested retail markups for their clothing, sources told The Post
. The plan, insiders say, includes erecting signs and fixtures that will display the sometimes made-up retail prices, while tagging the clothes and accessories themselves with Penney's own lower prices....
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Lessons From J.C. Penney's Doomed Marketing Makeover
January 2, 2013
I've been an enthusiastic and vocal supporter of Penney's "no sale" strategy for almost a year now, sticking with the brand even as its marketing fell on deaf ears with consumers and investors. The stock was up last month and its website was reportedly a favorite visit during the holidays, but there's every reason to expect it will report dismal fourth quarter results (expertly obfuscated with stats on eyeballs, awareness and whatever). I now believe the company is doomed. We should stop holding our collective breath waiting for success, and start looking for lessons to learn from its failure.
J.C. Penney's Johnson has Backing to Weather Sales Plunge
November 12, 2012
J.C. Penney's Chief Executive Ron Johnson has two key weapons in his arsenal as he tries to weather plunging sales while radically transforming the aged retailer — the backing of its top investor, and cash. Those two assets help Johnson exude confidence on days like Friday, when the retailer reported its worst drop yet in same-store sales since he began his radical transformation of the department store chain earlier this year. Same-store sales fell 26.1 percent in the latest quarter, while analysts had expected a decrease of 17.9 percent.