Pursuits
J.C. Penney ‘Backtracking’ With Discounts, Deutsche Says
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J.C. Penney Co., the 110-year-old department-store company, is “backtracking” on Chief Executive Officer Ron Johnson’s new pricing strategy with a 30 percent discount on clearance items, according to Deutsche Bank AG.
The deal, advertised by e-mail, is available both in-store and online from Oct. 28 to Nov. 3, Charles Grom, an analyst at Deutsche Bank in New York, wrote in a note to clients today.