Some people just love the idea that they're sticking it to a company with a product that is 50% and they use a 30% coupon on top of that. Part of the fun of shopping (at least for my wife) is trying to get the best value for the money. Everyday low prices at JCP are actually now more expensive in many cases.
And what about the JCP catalogs that offer one color? What if you're a summer, spring, autumn and the color is a winter color for the month? Seriously. What wacko marketing genious came up with that.
Apparently the market doesn't like this much either. See http://www.nasdaq.com/symbol/jcp
52 Week High / Low: $ 43.18 / $ 23.14
Or maybe now is a good time to buy JCP stock? Lol.
But I hear you. I think just like the car inudstry box stores will have to restructure/consolidate to adapt to the changing economic reality. Target, Walmart, Ross's, and others are giving them a run for their money in the low end. Khol's and Macey's are hitting them hard in the mid tier. Sears is struggling period. Dillard's is just way over priced.
What about firing Mr. Johnson and bringing in a woman instead?
Didn't American Airlines do something like this "Value Pricing" concept in the early 1990's with a standard tier strategy? It was a complete failure as competitors offered lower prices and American Airlines switched back.