Good for them. I've been saying this for years. Stores need to quit having all those phoney baloney sales where you mark something down by 40% or 50%, which means it's now the price it should have been to begin with.
I really like what the new CEO said, "Customers will not pay literally a penny more than the true value of the product" which echoes my motto of, "Something is worth only what someone will pay for it."
That's why I "heart" Costco. I know they will give me the best possible price on an item and it will be of the highest quality. I don't have time to clip coupons or be run ragged looking for "sale" items that are usually not a very good deal.
NEW YORK (AP) — J.C. Penney is permanently marking down all of its merchandise by at least 40 percent so shoppers will no longer have to wait for a sale to get the lowest prices in its stores.
Penney said Wednesday that it is getting rid of the hundreds of sales it offers each year in favor of a simpler approach to pricing. On Feb. 1, the retailer is rolling out a three-tiered strategy that offers "Every Day" low pricing daily, "Month-Long Value" discounts on select merchandise each month and clearance deals called "Best Prices" during the first and the third Friday of every month when many shoppers get paid. read the rest