J.C. Penney will mark up its own brands and discount later

03/27/2013 | Reuters

J.C. Penney plans to raise prices on store brands such as St. John's Bay, jcp, Stafford and Arizona, then lower them to appear as a discount, yet another change in retail tactics intended to win back bargain-conscious shoppers. "While our prices continue to represent a tremendous value every day, we now understand that customers are motivated by promotions and prefer to receive discounts through sales and coupons applied at the register," says spokeswoman Daphne Avila. CEO Ron Johnson announced last month that a 25% drop in fiscal-year sales would trigger such discounts.

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