JCPenney CEO Ron Johnson wants to wean customers off coupons, which he once called a "drug."
But lately, JCPenney appears to be shifting away from its 'no coupon' vow. It offered $10 off (that's a coupon, traditionally) in an email, but called it a "gift."
Is there more of this to come?
Deutsche Bank analyst Charles Grom thinks so.
Here's what he had to say about it in a note to clients, which proclaims that "$10 Off Is A Coupon In Our Book":
In our view, this serves as another admittance that the ["every day low prices"] strategy transition continues to be difficult and on the heels of a month-long kids haircut giveaway in August, it shows that the management team is actually willing (and looking) for promotions that will aid the store draw traffic.
As we approach Black Friday and the Holiday period, we would not be surprised to see additional coupons and promotional events provided by JCP.
