Penney: New pricing may flop

Investor's Business Daily

The department store chain said its switch from a flurry of sales and deals may confuse shoppers and "result in prolonged decline in sales." It gave "no assurance" the plan would yield better results. In Jan., J.C. Penney (NYSE:JCP - News) said it would adopt an everyday low-price model. CEO Ron Johnson, an ex-Apple (NASDAQ:AAPL - News) exec, hired several ex-Apple employees to help. Shares fell 1.4% to 36.17.

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