Why Everyday Low Pricing Might Not Fit J.C. PenneyAlexander Chernev
J.C. Penney’s move away from frequent promotional discounts to everyday low pricing caught many Wall Street analysts, retailers, and consumers by surprise. Virtually overnight, the retailer, which offered about 590 sales promotions last year, abandoned a strategy it had followed for decades to join the ranks of retailers that offer low everyday prices. The sudden change—followed by a first-quarter loss—isn’t necessarily the right strategy for J.C. Penney.
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