By Evann Gastaldo, Newser Staff
JCPenney's new plan -- stop offering huge markdowns on inflated, "fake prices" in order to offer "fair and square" pricing -- sounds good in theory. Prices start at least 40% lower than they had been, with no need for customers to take advantage of sales or coupons to get the lowest price.
But, though CEO Ron Johnson insists that "customers love the new JCP," first quarter results show that sales are way down. "The consensus ... seems to be that the JCPenney (JCP) makeover is shaping up as a major flop," writes Brad Tuttle in Time.
--Written by Evann Gastaldo of Newser