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House Brand Or Nothing
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The reason JCPenney made its thus far disastrous move towards ending sales and coupons in favor of "everyday low pricing" is that some stores' profits are getting hammered by bargain shoppers who only buy stuff on extreme sale. One survey said almost 75% of shoppers need a discount of at least 50% to buy a given item. I think that's an overstatement, but it's clear people in this economy are seeking bargains, and retailers are stumped as to how to increase profits when this is happening. For every Walmart which doesn't do sales and makes money with low prices across the board, there are hundreds of stores who can't seem to pull that off. (AP via WSFA-TV/Montgomery)
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