You must give JC Penney's CEO Ron Johnson some credit for trying something new to revive an ailing brand. It was a little over a year ago that it was announced JC Penney would do away with coupons and sales. It didn't ring well with customers (or in cash register sales) so the company has announced it’ll be marking all of its merchandise down by at least 40%. After the initial markdown, JCPenney will be rolling out a three-tiered approach to its pricing of items starting Feb. 1, to replace the hundreds of sales they used to have every year. There will be the “Every Day” low prices daily, the “Monthly Value” discounts and “Best Price” clearance deals twice a month on the first and third Fridays of each month, when many shoppers get paid.
Do you think this move will work and get you to shop? Or is JC Penney on it's way of becoming the next Woolworth's and Montgomery-Wards? Time will tell.
In other big brand news, you've seen the story and picture of a Subway customer measuring their footlong sandwich only to find it was an inch short. The story went viral as several Subway customers also found their sandwiches short. Subway is now telling the world that honest, guys, we never meant to make a sandwich 11 or 11.5 inches.
In a statement released addressing the controversial less-than-one-foot Footlongs, Subway said it’s very sorry and this won’t happen again. Quote: “We regret any instance where we did not fully deliver on our promise to our customers. We freshly bake our bread throughout the day in our more than 38,000 restaurants in 100 countries worldwide, and we have redoubled our efforts to ensure consistency and correct length in every sandwich we serve. Our commitment remains steadfast to ensure that every Subway Footlong sandwich is 12 inches at each location worldwide.”
Kudos to Subway for owning up to the shortcomings without spinning the story around like a top. But to be honest, I will measure my next footlong just to make sure! :)