JC Penney CEO Vows for Low Prices

July 17, 2012  by in UnCategorized   

By Aggregated Content in Business Strategy on July 18, 2012 from http://www.app.com/article/20120718/NJBIZ/307180097/1003/BUSINESS&source=rss?nclick_check=1

J.C. Penney Co. Chief Executive Officer Ron Johnson, reiterating that his turnaround of the department store chain will take four years, said he's sticking with his strategy for "everyday low prices."

"We do not believe in marking up goods beyond a fair profit, we will not mark things off 10, 15, 20 percent off, we do not do that type of business," Johnson said Wednesday at the Fortune Brainstorm Tech conference in Aspen, Colo. He cited the effectiveness of the strategy for Wal-Mart Stores Inc. and Starbucks Corp. and for goods such as gasoline.

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