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Reuters reports that JC Penney is yet again switching gears, and will begin "offering targeted discounts at certain times throughout the year," a move away from the focused EDLP approach advocated by the retailer's new CEO, Ron Johnson.

When hired by JC Penney, Johnson - who was a guiding force behind the Apple Store - said that he wanted to move the company away from the avalanche of sales and promotions that he believed were confusing customers and diluting the chain's brand. However, in doing so, the company appeared to be disenfranchising longtime shoppers, and sales, Johnson has conceded, "have gone backward a little more than we expected."

"That doesn't change the vision or the strategy," Johnson says. "We made changes and we learned an incredible amount. That is what's informing our tactics as we go forward."
KC's View:
The thing that we have to remember is that Ron Johnson wasn't brought in to be the caretaker of a thriving retail enterprise. No, he was brought in because the company was in a downward spiral, and drastic changes were required if JC Penney was going to be put on a sustainable path.