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J.C. Penney pins future on new, three-tiered pricing strategy and in-store shops
New York City -- Ron Johnson, CEO of J.C. Penney, unveiled his hotly anticipated vision for the chain’s future on Wednesday. The chain is looking to transform itself and the entire department store shopping experience with a three-pronged pricing structure, far less promotional clutter, and in-store shops (as many as 80 to 100) within its stores.
Called the "fair and square" pricing strategy, the new model is designed to offer appealing initial prices that are not confused by multiple promotions, deep discounts and daily sales.
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Nanette Lepore brings teen fashion to JCPenney
PLANO, Texas and NEW YORK — JCPenney announced that it has partnered with fashion designer Nanette Lepore to bring her first teen-focused line to its stores. Inspired by her teenage daughter, the line "l'amour nanette lepore" will be available exclusively at JCPenney and will debut as its own distinct shop beginning February 2013.