Now where did I hear the word "backtracking" before???
Of course to JerseyJerk, Hunglikea, JCPenneyman, and alphabet boy dfcabc will no doubt see this as positive news!!!!
J.C. Penney Co. (JCP), the 110-year-old department-store company, is “backtracking” on Chief Executive Officer Ron Johnson’s new pricing strategy with a 30 percent discount on clearance items, according to Deutsche Bank AG.
“On the heels of a $10 in-store coupon provided earlier this month, free haircuts for kids, and free family photos to begin later this week, we believe JCP is backtracking on its no promotion strategy, confusing customers,” said Grom, who has a “hold” rating on the stock. “We, therefore, remain skeptical of near-term improvement in business trends.”