Unfortunately, not many JC Penney customers are actually keen on going cold turkey with coupon use.
FORBES: Is JC Penney's Re-Invention Like Brian Wilson's SMiLE?
Why has this worked for Costco but has been a challenge for JC Penney?
FORBES: Department Store Pricing -- No Easy Task (Part 4 Of 4)
However, JC Penney has been making news lately, with sales declining 23% for the same period.
FORBES: Department Store Pricing -- No Easy Task (Part 4 Of 4)
Joe Fresh, a Canadian designer, also just announced they are launching into 700 JC Penney stores starting March 15th.
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He is creating massive advertisements for the new JC Penney, altering perceptions of the previously staid department store group.
The news leaked as JC Penney moved to sell women's "plus-size" Levi's on-line.
However, for JC Penney I do not believe this was the case where markdowns were clearly taken in haste.
Another new JC Penney shop-in-shop will be the colorful Canadian clothing brand Joe Fresh, started by grocery chain Loblaw.
But then several chains--among them JC Penney's Internet group and sales force--repeatedly tried to persuade Levi to change its mind.
Beyond that, the hot stocks of three decades ago aren't so hot today: JC Penney, Polaroid and Xerox, for instance.
And JC Penney has retooled its entire brand, including advertising and in-store offering, to reflect a stronger emphasis on customer experience.
For JC Penney, I believe the story has yet to be completely written, and any commentary in preface is obviously premature.
FORBES: Department Store Pricing -- No Easy Task (Part 4 Of 4)
And regarding JC Penney, the bottom line is that no one cares.
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For one reason, like with JC Penney, it invites customers to wonder just how poorly priced the products were before the promise.
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Interestingly, Costco has an approach similar to JC Penney, also declining to make heavy use of coupons and rarely marking down products.
FORBES: Department Store Pricing -- No Easy Task (Part 4 Of 4)
The one store which stood out like a sore thumb, at least here in my part of Connecticut, was JC Penney (JCP).
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Alas, JC Penney simply is in a race against the clock.
FORBES: Will JC Penney Shoppers Accompany The Retailer To The Finish Line?
Vindication in the Herbalife short would work, but that may be a long time coming, so how about a reversal of fortune at JC Penney.
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Ever since Ron Johnson took the helm at JC Penney fourteen months ago, there has been much talk and swagger about the new JC Penney.
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When JC Penney asked, yet again, about putting Levi jeans on in time for the holidays, Levi consented in October, giving permission to Macy's as well.
So we know JC Penney shoppers will be trying to cut back on their holiday gift spending this year, but just how do they intend to accomplish this?
FORBES: The Not-So-Jolly Holiday Outlook for JC Penney Shoppers
Retailer JC Penney hired former Apple and Target executive Ron Johnson with high hopes that he would save the lumbering middle-class department store from its continued slide.
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To help create the future for the new JCP company, ceo Ron Johnson and the rest of the new management team have dug into the JC Penney archives.
FORBES: New JCP Company Goes Back To Origins To Find Its Future
Financial Engines Chief Investment Officer Christopher Jones says his company has so far signed deals to offer managed accounts to 2 million workers, including those at Motorola and JC Penney.
Retailers like Best Buy and JC Penney have already announced efforts to ramp up one-on-one interaction to drive customers back to their stores, looking ahead to perhaps a renaissance of traditional customer service.
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As we watch the new JC Penney unfold as it tries to differentiate itself and become relevant to shoppers all over again, reminding the corporate soul of its historic legacy is not a bad idea.
FORBES: New JCP Company Goes Back To Origins To Find Its Future
Still, a slightly larger proportion of shoppers at the discounter, known to cater to more cash-strapped, lower income households, plans to spend more for the upcoming holiday season (9.5%) compared to JC Penney shoppers (7.4%).
FORBES: The Not-So-Jolly Holiday Outlook for JC Penney Shoppers
Rather than whine on the sidelines that the JC Penney turnaround is too slow or strategically unsound, we should all be cheering this guy for having the gumption to attempt to re-invent an entire business model.
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