J.C. Penney lowers prices 40 percent

New J.C. Penney logo

I love the new J.C. Penney. Beginning Feb. 1, you won't have to wait for a sale to get low prices. It is permanently marking down all merchandise 40 percent or more.

If you can get past all the screaming "no" in the new commercial, you may be able to figure out J.C. Penney is changing it's pricing structure. The commercial shows customers screaming no to coupons, no to discounts, no to rebates, no to sale signs, no to gimmicks.

CEO Ron Johnson wants to make J.C. Penney America's Favorite Store.  Johnson announced Fair and Square pricing, which includes three types of prices. Everyday, regular prices, which are always great; Month-Long Values, even better prices on the things you need now; and Best Prices, J. C. Penney's lowest prices, which always happens on the first and third Fridays of every month as the stores make room for new merchandise. 

This means there will be fewer sales as we know them, and simpler pricing since the products are already slashed. There will be 12 promotional events annually. Monthly values will be unique to the month, such as Christmas.

J.C. Penney also plans new brand shops. They include Martha Stewart® and l'amour nanette lepore™, among others. Plans to transform its customers' favorite existing brands, including, IZOD®, Liz Claiborne® and The Original Arizona Jean Company®, among others.  It expects to feature 30 new and transformed brands by fall 2012.
 
The new logo combines the J.C. Penney as an American brand, by evoking the nation's flag and company's commitment to treating customers Fair and Square. The square frame imagery will be evident throughout all of it's new marketing to remind customers to frame the things they love.

Ellen DeGeneres will also return to J.C. Penney as new brand partner. Once a store associate, she is one of the country's most beloved television personalities and will help bring her own fun-loving, sneaker-wearing, laugh-making way to the store.

What do you like or dislike about the changes? Will you shop more, less or about the same there?