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One of the first big moves Johnson made was eliminating hundreds of sales events a year in favor of a three-part price strategy, begun Feb. 1. That plan offers everyday prices that are about 40 percent less than what they were a year ago, monthlong sales on select items and clearance events on the first and third Friday of each month. According to various analysts' reports, sales have fallen since then. As part of its "Fair and Square" pricing policy, the company also now allows shoppers to return items without a time limit. Those who don't have a receipt can exchange the item or get a J.C. Penney gift card at the current price. Previously, J.C. Penney had a 90-day return policy but shoppers needed a receipt. Brossart said Penney decided to consolidate its three call centers to two after it saw that call volume dropped by 30 percent in recent weeks because of fewer customer concerns regarding coupons, prices and returns. New York-based retail consultant Walter Loeb says he also believes with the lack of blockbuster sales events, there's less urgency for shoppers to call the center. Penney also is changing the in-store shopping experience. It plans to carve its stores into 80 to 100 brand shops. Merchandise will be refreshed once a month. Penney is also planning to add spots in its stores called Town Squares, like Apple's Genius Bars, that will offer services and advice. Shares of Penney fell 58 cents, or almost 2 percent, to $34.88 in afternoon trading.
[Associated
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