J.C. Penney Rolls Out 'Fair And Square Every Day' Pricing Plan
LOS ANGELES (CBS) — J.C. Penney stores across the Southland are rolling out the retailers' new pricing Wednesday. The company said the "Fair and Square Every Day" pricing plan will help put an end to the confusion of multiple promotions, percent-off sales and coupons.
Shoppers should immediately notice the changes, including new signs, less clutter and pricing that doesn't include percentages off. The retailer announced last week that it was permanently marking down all of its merchandise by at least 40 percent. They said, this new pricing strategy, will make it easier on shoppers by not having to wait for sales or special coupons to get the best deal.
The chain will simply offer three prices: (1) "Every Day", (2) "Month Long Value" and (3) "Best Prices" (clearance). Prices will also now end in "0″ instead of "99″ and price tags will list just one price.
In addition to that "Every Day" pricing, the retailer will have "Best Price Fridays" twice a month and "month-long values" on featured items, which in February will be spring clothing, jewelry and lingerie aiming to riff off Valentine's Day this month, according to a company spokesperson.
J.C. Penney also is rolling out a new "Happy Returns" policy. Customers can bring back any item, anytime, anywhere.
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