JC
Penney will reverse Ron Johnson's strategy of reducing discounts and put
coupon advertising in newspapers again, said William Ackman, the activist
investor who recruited the ousted chief executive.
Mr. Johnson, who was replaced by Myron Ullman
on Monday, implemented a pricing strategy that eliminated almost all of the
company's discounts and promotions in favor of everyday low prices. Shoppers
shunned the department store chain, and sales sank 25% last year.
