JCPenney’s NEW 40% Permanent Sale Prices

What an interesting concept, here is a snippet from the announcement on Yahoo Finance…

J.C. Penney is permanently marking down all of its merchandise by at least 40 percent so shoppers no longer have to wait for sales to get bargains.  JC Penney said Wednesday that it is getting rid of the hundreds of sales it offers each year in favor of a simpler approach to pricing. Starting on Feb. 1, the retailer is rolling out an “Every Day” pricing strategy with much fewer sales throughout the year.

The plan, the first major move by Apple executive Ron Johnson since he became Penney’s CEO in November, is different from Wal-Mart’s iconic everyday low pricing. Unlike Wal-Mart, Penney’s goal isn’t to undercut competitors, but rather to offer customers more predictable pricing.

“Pricing is actually a pretty simple and straightforward thing,” Johnson told the Associated Press during an interview ahead of the announcement at the company’s Plano, Tex. headquarters. “Customers will not pay literally a penny more than the true value of the product.”

Penney’s plan comes as stores are struggling to wean Americans off of the profit-busting bargains that they have come to expect in the weak economy.

Thoughts…?  I just hope we continue to see their $10 off $25 coupons!

Thanks for sharing Hannah!


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(29 Comments)

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  1. Melissa Raab via Facebook says:

    I am glad I held onto the credit from the table set!

  2. Jill Brinkley Beinburg via Facebook says:

    I have been and seen everything marked I wouldn’t say down.. Nike hoodie marked down to $45.. Outrageous to me..

  3. Heidi Hernandez via Facebook says:

    There will probably be little to no savings as the original prices will most likely go up.

  4. Ginny Logan says:

    A sales associate at Penney’s told me about this last week. She said that we won’t be seeing the sales and coupons anymore. :( I think that means that in addition to the prices being consistently lower, there won’t be coupons either. Granted, this was just a clerk, but she probably knows what she is talking about.

    A part of me understands that they probably can’t sustain a business plan when people who are good shoppers get stuff for 97 cents. However, I sort of assumed that there were enough other people that bought other things once they got in the store that it probably all evened out. It will be interesting to see. I’ll probably do more of the surveys for 15% off if there won’t be coupons.

  5. Erin Bosco via Facebook says:

    I’m thinking this is going to be a fail.

  6. It says the prices will be permanently marked down starting Feb 1, so you haven’t seen any of the changes yet. – Mr Frugal

  7. Kim Dauer via Facebook says:

    They will do this in lieu of sales so I’m guessing while regular prices will improve, the deals I’ve scored will be a thing if the past!

  8. i went to pennys a few weeks ago because my grandma sent gift cards for my boys and i for christmas and i couldn’t believe how high their prices were. my son wanted a small hot wheel set.(i’ve seen them for about 7 or 8 dollars at target) it was marked 70% off which made it 12.99!!! that was the price AFTER the 70% off!!!!!! everything there was way over priced!!

  9. I dont know what everyone is taking about because I went to pennys today and there were EXTEMELY cheap prices on everything! Im talking dresses for 7 bucks and sweaters for 4. Half of the racks were empty so I think they were in the middle of re-merchandising but its definitely worth a trip to check out the prices. I got a 48 dollar shirt for 8 bucks! Definitely worth a look for any frugal person out there!

  10. Tonya Wike says:

    I like this idea. It seems like Penny’s and a certain other department store have everything semi-permanently on sale. Thus, you get the no-so-deal deals like the one mentioned above (toy still $12.99 after 70% off). I think permanent lower prices is a better way to go. If you’re going to put things on sale ALL THE TIME, it means your normal prices aren’t a realistic reflection of the value of your merchandise. I hope the certain other store follows JCP’s lead.

  11. Actually, the Penneys near me rolled out the new pricing right after New Years. I found the clothing prices to be similar to Target. I live in Texas so perhaps they are testing the pricing near their headquarters.

  12. Interesting – I saw the JCP commerical and it ended with the 2.1.12 date and i was so confused!!! haha

    I am curious to see how this works for them – 40% the regular retail price is great and I imagine they will still have a clearance section where you can get even better deals…. only time will tell!

  13. I went to Penney’s last weekend and the whole store seemed like their inventory had dropped about 50%. I mean the racks only had a few items. I didn’t see any good deals or sale going on. Now I know why.

  14. My son works at JCP–no more coupons. The store here is going to totally re-vamped and they are busy re-pricing everything. He says he marks most things for $10-$20 range.

    I expect most stores are in upheaval right now to get ready for 2/1.

  15. Does this explain the little colored stickers on the price tags with prices listed on them (like $5, $7, etc…) that I kept seeing on merchandise when I stopped by earlier this week? I thought it was a little funny.

  16. we like this.. my son shops there for work, and mom for everything : )

  17. I loved using the $10 off $10 purchase and scoring $3 tops on clearance so I’m apprehensive about the new pricing.

  18. Dot Quaid via Facebook says:

    we think it’s great, Mr. Q is always commenting on the ‘lowest prices of the year’ sales, now we know we don’t have to wait for a sale to get a good price…there will still be clearance racks, I’m sure, but now the prices will be more real…good job, JCP!

  19. Finally, no more sales to wait for!!! Love the instant $10 off!!!

  20. Id rather have my coupons

  21. I actually got a beautiful new catalog this weekend with all their new pricing explained and some of the new deals and prices, some looked better than their normal prices but some seemed high still. They will have everyday low prices, and then special monthly deals on certain products and then 2 Fridays a month there will be unadvertised sales on specific products. Some of their women’s sweaters were $20 which I didn’t think was too bad, but then there were other items I wouldn’t pay their prices for. We’ll just have to see what ends up happening in February.

  22. Regina Hurtado via Facebook says:

    I like the sales better… I hope we still see some sales… I did get two shirts for the girls and i liked the simple pricing but still way to much for my bones

  23. Christy Casedy Senn via Facebook says:

    My JCPenney’s (Montgomery, AL) has already cut their prices. I got kicked out Sunday night before I was finished shopping so I went back Monday and the prices had been slashed. Glad they closed on me Sunday. :)

  24. Honey Badger Swieder via Facebook says:

    Lord, I hope they stop playing that ANNOYING commercial with people screaming after tomorrow, Lol!

  25. Bergen Daisy Smith via Facebook says:

    I just don’t understand what they are doing?!

  26. They will not have sales anymore. It will just be an everyday low price. I was in there last week and they had no sale signs. Really wierd. Over all the prices they had these red stickers just saying something like $10 or $12. They did still have some clearence and I guess they will do that a few times a year, but no sales

  27. I’m looking forward to it! I feel like those people in the commercials, I really do. Especially when I think about Kohl’s!

  28. Went to my JCP today to check out the new set up. I got 8 baby/toddler clothing items from the $2 “sale” rack. Two of them were American Living dresses that were originally priced at $38 – 94.7% savings. No coupons or hunting needed. I’m sold.

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