In yet another new strategy, J.C. Penney slashes prices

07/26/2012 | Wall Street Journal, The

J.C. Penney is changing its pricing at stores yet again, the latest in a string of attempts by the retail giant to attract more shoppers. J.C. Penney is ending its monthlong specials that reduced prices on some merchandise by up to 29% and is instead permanently marking down a large amount of merchandise. The company's newly installed boutique store-within-a-store business has so far failed to increase traffic, and some vendors say their sales through J.C. Penney are down as much as 70% over last year.

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