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JC Penney Is Standing By Their Confusing No Sale Policy, Which Is Just Fine With Target and Macy's

No sales here, via JC Penney
No sales here, via JC Penney

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Nobody knows what to think about JC Penney's new pricing policy; not even customers, apparently. But even in the face of a $163 million first-quarter loss, executive officer Ron Johnson plans to continue with the shake-up he introduced at the start of this year, simplifying its price structure by doing away with coupons (the "no sales, just lower prices" spiel that TV watchers might have heard once or twice). What he's not doing, however, is scaring the competition.

John Mulligan, executive vice president and chief financial officer of Target Corp. isn't scared: "People say that J.C. Penney has stolen our mojo because their ads look like ours. I think there are a couple of commercials and circulars that look like our brand, [but] that’s not stealing our brand.?There’s the misperception that it’s getting away from us and that’s not true at all."

And Karen Hoguet, the chief financial officer of Macy’s Inc. says it doesn't really matter because Macy's is winning anyway: “Every year somebody has a new strategy. The good news is that we’re winning. Also, we’re trying hard not to get distracted by what others are doing around us.”
· JC Penney Planning a Massive Revamp This February [Racked]
· All JC Penney Coverage [Racked]