J.C. Penney dropped prices by as much as 70 percent on select items this past Black Friday in a bid to win over consumers on the biggest shopping day of the year, The Wall Street Journal reported on December 2.
While the company has not revealed specific numbers for the day’s traffic, Manhattan location manager Joe Cardamone told the Journal that it was “very strong” on Black Friday.
The across-the-board price cuts are part of an effort to stave of perceptions that the troubled retailer is facing bankruptcy. J.C. Penney opened some locations at 8 p.m. on Thanksgiving Day to draw in post-dinner consumers.
To learn more about why U.S. shoppers may have found J.C. Penney’s strategy appealing, read our latest report on consumer responses to pricing here.
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