Department store group JC Penney has revived the pricing strategy it had abandoned, which involves increasing prices of private label lines then discounting them as a means of improving sales and margins.
The retailer began changing merchandise prices in March and will complete the process this month, according to a JC Penney spokeswoman.
Chief executive Ron Johnson revealed a pricing strategy change in February and acknowledged that ending the retailer’s markdown and couponing practices was a mistake.
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