BizSugar.com › Strategy › 5 Lessons from J.C. Penney's Failed New Pricing Strategy

There's an old saying: If it isn't broken, don't fix it. And that's the simple rule J.C. Penney should have followed when it came to the company's tried and true pricing strategy, insists entrepreneurship blogger Hammad Siddiqui. But, of course, J.C. Penney's strategy was broken. The department store chain was seeing steady sales declines despite its tried and true business model. Still, in this post, Siddiqui looks at five reasons the iconic department store chain may have gone wrong with radical changes in order to address these declines. Sales now seem to be worse, plummeting sharply according to numbers released earlier this month as customers seem to be rejecting the changes at the retail giant. What do you think?