JCPenney Permanently Marking Down Prices 40%!

Have you shopped in JCPenney lately?  I went in there this week and noticed the prices on the tags were a little funky but I didn't think that much of it.  I just now came across this news article that says that JCPenney will be permanently marking down prices on ALL of it’s merchandise at least 40%!   Have you noticed it?

Here’s a small part of the article..

“NEW YORK (AP) — J.C. Penney is permanently marking down all of its merchandise by at least 40 percent so shoppers will no longer have to wait for a sale to get the lowest prices in its stores.

Penney said Wednesday that it is getting rid of the hundreds of sales it offers each year in favor of a simpler approach to pricing. On Feb. 1, the retailer is rolling out a three-tiered strategy that offers “Every Day” low pricing daily, “Month-Long Value” discounts on select merchandise each month and clearance deals called “Best Prices” during the first and the third Friday of every month when many shoppers get paid.
The plan, the first major move by former Apple executive Ron Johnson since he became Penney’s CEO in November, is similar to Wal-Mart’s iconic everyday low pricing strategy. The difference is that Penney’s goal isn’t to undercut competitors, but rather to offer customers more predictable pricing.”
Go Here to read the rest of the article.