On Feb 1st, JC Penney unveiled its new pricing strategy and service policies called Fair and Square. JC Penney describes it as three kinds of pricing, one happy return policy. It got our attention for a couple reasons.
Simplicity of message: The three kinds of pricing are everyday low pricing, month-long values and best prices. The "best prices" will happen on the 1st and 3rd fridays of every month.
Leadership change: Ron Johnson used to be the Senior VP of Retail for Apple and is now the CEO of JC Penney. He helped shape the Apple Store concept and Genius Bar.