J.C. Penney Company, Inc. (JCP) Steps Up Promotions Amid Store, Job Reductions

Deutsche Bank analysts Paul Trussel and Matt Siler observe 40%-85% markdowns this time of the year when promotions are the name of the game. “As is normal this time of year, promotions across the mall remain heavy, with markdowns of 40%-85% off, as retailers act to clear goods ahead of the upcoming Valentine’s Holiday and eventual start of Spring. From our observations, each of the major Department Stores have incremental promotional events on a YOY basis (to draw traffic, which is down HSD QTD),” observe the analysts. Promotions at J.C. Penney There is some divergence in the extent of discounting,…