Here’s the start of an AP article about JC Penney:
NEW YORK (AP) — J.C. Penney is bringing back sales.
The struggling department store chain this week will begin adding back some of the hundreds of sales it ditched last year in hopes of luring shoppers who were turned off when the discounts disappeared, CEO Ron Johnson told The Associated Press.
Penney also plans to add price tags or signs for more than half of its merchandise to show customers how much they’re saving by shopping at the chain — a strategy used by a few other retailers. For store-branded items such as Arizona, Penney will show comparison prices from competitors.
Okay, so it’s all about price. They will sell imported, cheap junk at the lowest price.
Is that really a smart business model? No.
Look, even Costco carries enough quality to keep their image out of the trash store category.
When a business lives by price, it will die by price.
This is the end for JC Penney. Nice job.