Retail giant JC Penney is ready to slash prices, big time! The company has announced that they're officially making "mark downs" of its merchandise permanent.
The store said Wednesday that it would do away with the hundreds of sales it offers each year and instead roll out a 3-tiered strategy that offers "every day" low pricing, "monthly value" discounts on select items and clearance deals called "best price" during the first and the third Friday of each month.
The plan will be similar to Walmart's everyday low pricing, but JC Penney says its goal isn't to beat out the competition but rather to take the guesswork out of shopping by offering better prices.
