JC Penney CEO Ron Johnson capitulates, brings back sales

“J.C. Penney is bringing back sales,” Anne d’Innocenzio reports for The Associated Press. “The struggling department store chain this week will begin adding back some of the hundreds of sales it ditched last year in hopes of luring shoppers who were turned off when the discounts disappeared, CEO Ron Johnson told The Associated Press.”

“Penney also plans to add price tags or signs for more than half of its merchandise to show customers how much they’re saving by shopping at the chain — a strategy used by a few other retailers,” d’Innocenzio reports. “For store branded items such as Arizona, Penney will show comparison prices from competitors. The moves are a reversal for Penney on the eve of the one-year anniversary when it vowed to almost completely get rid of the sales that Americans covet but that cut into a store’s profits. The idea was to offer everyday low prices that customers could count on rather than the nearly 600 fleeting discounts, coupons and sales it once offered.”

d’Innocenzio reports, “Johnson, who rolled out the pricing plan shortly after taking the top job in November 2011, told The Associated Press that the latest moves are not a “deviation” from his strategy but rather an ‘evolution.'”

Read more in the full article here.

MacDailyNews Take: An evolution in pedaling, in this case, “back.”

Forget this department store crap and come on back, Ron! After a brief clown show, Tim’s hiring.

Related articles:
Apple retail’s Ron Johnson and John Browett have proved the Peter Principle is alive and well – November 13, 2012
CEO Ron Johnson switches J.C. Penney to two-tier pricing with price-match guarantee – July 26, 2012
Why is Ron Johnson’s retail strategy for J.C. Penney failing? – June 26, 2012
J.C Penney’s stock tumbles after key exec’s abrupt exit – June 19, 2012
J.C. Penney reports loss and plummeting sales in 1Q – May 15, 2012
Why Ron Johnson left Apple to head JC Penney – April 30, 2012
J.C. Penney lures another executive from Apple – April 26, 2012
Steve Jobs’ ex-lieutenant Ron Johnson adds $1.5 billion to J.C. Penney in two days – January 30, 2012
J.C. Penney CEO Ron Johnson: What I learned building the Apple Store – November 21, 2011
New J.C. Penney CEO Johnson hiring former Apple co-workers – November 9, 2011
Why Apple’s retail genius Ron Johnson is paying for the privilege of running J.C. Penney – June 15, 2011
Apple’s retail store chief Johnson off to J.C. Penney; expected to become CEO within months – June 14, 2011


  1. All I can say was I used to buy polo style shirts on sale for $10 all the time at Penney’s. Then the square deal came along and those shirts were full time $15. I know from experience the prices went up when they did away with their sales and I can get my stuff cheaper at Kohls. Also, I simply do not like the new look where the store has a bunch of “boutiues” inside so just never go into Penneys anymore. It’s a shame as I used to really like shopping there.

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