Sozzi

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." 

Pro traders were looking at strength in retail Wednesday, with the S&P Retail ETF [ XRT 47.98 Considering the ETF is made up of some of our nation?s largest stores, including Sears Holdings [ SHLD 56.55 Brian Sozzi, an analyst at Wall Street Strategies, certainly doesn?t think so. He thinks the gains are nothing more than a short covering rally, and points to big moves higher by Sears and La Z Boy [ LZB 7.6502 ?The S&P retail index it?s having a hard time closing above its 200 day moving average,? he said. ?The pricing environment remains very competitive