This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive
compensation for actions taken through them.
J.C. Penney Co. Inc.’s (NYSE: JCP) CEO Ron Johnson is either lowering prices on much of the troubled retailer’s store inventory or raising those prices instead. Most analysts believe neither path will work because consumers have deserted J.C. Penney’s permanently for other department stores like Macy’s Inc. (NYSE: M) big-box retailers like Target Corp. (NYSE: TGT).
According to The New York Post:
JCPenney CEO Ron Johnson has quietly begun to hike prices across the company’s stores, The Post has learned.
It’s a humiliating about-face as the former Apple exec scrambles to restore the traditional sales events he ditched last year.
The increases are significant, as prices return broadly to previous levels before Johnson slashed them in his “fair and square” initiative. The push permanently lowered prices while eliminating sales events and coupons in February 2012, sources said.
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.