J.C. Penney Tweaks Pricing Strategy Again

J.C. Penney is changing its pricing — again. Just six months after the midpriced department store chain got rid of the hundreds of sales it offered each year in favor of everyday lower pricing, it's reversing course. On Feb. 1 J.C. Penney began using a three-tier pricing approach that called for consistently lower daily prices, month-long sales and periodic discounts on merchandise throughout the year. But starting Aug. 1, Penney will eliminate one of the monthly sales and bring back the word "clearance."