Is This the END of JCPenney Coupons?!

JCPenney once took away coupons in a couple years back, a move that went down in infamy and ended disastrously. Business tanked when a new CEO took over in 2011 and eliminated coupons all together, claiming customers wanted “everyday low prices”. It didn’t end well. Coupons returned but the company never fully recovered.

JCPenney CEO Marvin Ellison told investors last week “we took couponing to an unhealthy level” and it was “one of many mistakes that won’t be repeated.” He acknowledges customers value coupons, but reiterated their approach will be changing, specifically more of a “data driven approach”.

The department store chain has other plans increase revenue, including the introduction of prices that vary by region. “We price Manhattan the same as we price rural Alabama, and that probably doesn’t make sense,” CFO Ed Record said. JCP has tested regional pricing in 60 stores, and executives say they’re pleased with the results thus far.

The company is also planning to close stores. Plans are in place to eliminate 13% – roughly 140 stores in their footprint. It has been hinted that it will be mostly in rural areas. Expect the announcement of store closures to happen sometime in March, and liquidation sales to follow.

Start off your purchase through Ebates and get cash back!