Penney Takes A Clip: Coupon Cut Kills

So maybe JCPenney shoppers don’t hate coupons after all.
New CEO Ron Johnson — who aggressively revamped the chain’s pricing strategy this spring with the idea that customers were annoyed by coupons — admitted yesterday that he may have miscalculated.
“Our first 90 days were tougher than expected,” Johnson told...

Topics:  jcpenney   new ceo ron johnson    our   johnson   coupon   
BING NEWS:
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    “Mike Ullman has his work cut ... J.C. Penney raise at least $1 billion, people familiar with the matter have said. The company also has tapped Centerview Partners LLC for advice, a person said today. When compared to Johnson, Ullman “certainly takes ...
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    The retail business is getting ever more competitive, with online stores selling items for less and the recession causing consumers to cut back ... But some JCP shoppers said they are happier without the coupons. “I might clip out the coupon and forget ...
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  • Why is Ron Johnson’s retail strategy for J.C. Penney failing?
    “Perhaps unconsciously though, it gave rise to blind spots, which have hit him hard after he became JCPenney’s CEO.” “At Apple, Ron Johnson could do whatever he liked, and he never had to worry about the share price. Basically, he had to convince ...
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  • J.C. Penney president, who axed sales and coupons in favour of cool new image, to leave the company with immediate effect
    The text reads: 'No more jumping through hoops. No coupon clipping. No door busting. Just great prices from the start.' The company also came out with a stylish monthly magazine that highlighted key items for sale. 'What they were doing hasn't worked.
    06/19/2012 - 11:12 am | View Link
  • J.C. Penney Scares Away Coupon-Loving Moms & Loses Millions (VIDEO)
    But in the case of department stores, even I have been known to go in with a single coupon for an extra 20 or 30 percent off-- or whatever the deal happens to be. (Who can resist saving a few bucks on a high-end pair of jeans?) Every time I get one of ...
    05/21/2012 - 1:46 am | View Link
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  • clip
    clip 1 (kl p) v. clipped, clip·ping, clips. v.tr. 1. To cut, cut off, or cut out with or as if with shears: clip coupons; clipped three seconds off the record.
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