J.C. Penney promises lowest prices ever for holiday shopping season

By WEEK Producer
By NBC News

J.C. Penney promises lowest prices ever for holiday shopping season

November 12, 2012 Updated Nov 12, 2012 at 3:38 PM CDT

PLANO, Texas -- In an effort to boost sales, J.C. Penney's says it will preserve two holiday traditions: Black Friday and Cyber Monday.

Store executives promise the lowest prices ever in the history of the company.

Nearly a year ago, the retailer revamped its pricing strategy by getting rid of heavy markdowns and promoting "the square deal" everyday pricing approach. However, sales were down in the second and third quarters.

J.C. Penney's says it wants to distance itself from so-called "false promotions", where goods are marked up and then marked back down to make it seem as if the customer is getting a good deal.
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