J.C. Penney: Ditch the Risky Pricing Strategy - Rafi Mohammed - Harvard Business Review
While I was dubious about J.C. Penney's switch to its Fair and Square Everyday Low Pricing Strategy, even I have been surprised at how miserably the strategy is faring so far. During its first quarter under the new pricing strategy, same store sales dropped by 18.9%, store visits decreased by 10%, and the average spend was down by 5%. As a result, the retailer lost $163 million (compared to earning $64 million in the first...
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