(ABC NEWS) J.C. Penney admits it is marking up prices just to mark them down again, as part of a return to its original pricing strategy that includes coupons and advertised sales.
This week, ABC affiliate in Phoenix ABC 15, took cameras into a J.C. Penney store that showed higher prices on stickers placed over lower, original prices. One Nike women’s t-shirt had a price of $25 on a sticker, which covered up an older price of $15. On a child’s swimsuit, an $18 sticker covered up a $13 price tag.
A spokeswoman for J.C. Penney provided a statement regarding its re-ticketing effort, which primarily affects the store’s private label brands.