Question of the Week: J.C. Penney Changing its Pricing … Again?

The biggest retail news from last week in my opinion was that J.C. Penney said that it would change the everyday low pricing model it instituted about six months ago back to something closer resembling its original model.

Yes, that's right, the midpriced department store chain began using a three-tier pricing approach that called for 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." Penney also said it plans to tweak its advertising to better communicate the pricing plan to consumers.