JC Penney is embarking on a bold, new strategy to transform its traditional promotional department store image into a hipper, more relevant retailer that will feature everyday low pricing, an innovative new promotional strategy, a strong emphasis on brand shop-in-shops and a page from the Apple store design that will make the middle of the store a focal point for services rather than merchandise. Most of the changes are going to take effect on Feb. 1.

The new pricing strategy, labeled “Fair & Square” is based on its research that shows that, while the average cost of items in its store ... Log in to view full article.