jcpenney Reveals Transformation Plans

by Nate Hunter

Plano, TX — At a launch event in New York City on January 25, 2012, J. C. Penney Company, Inc. revealed its plans to overhaul its brand identity with a new logo, new store design, etc.

 

Plano, TX — At a launch event in New York City on January 25, 2012, J. C. Penney Company, Inc. revealed its plans to overhaul its brand identity with a new logo, new store design, among other changes.

“The department store is the Number 1 opportunity in retail today,” says CEO Ron Johnson. “We are going to rethink every aspect of our business, boldly pursue change, and create long-term shareholder value, as we become America’s favorite store.”

At the event, Johnson and President Michael Francis also outlined plans to entirely re-invent the in-store experience, to include Main Street — the entire store merchandised in a series of 80 to 100 brand shops, rather than the confusing and seemingly endless racks common in department stores today. It will also feature Town Square, which replaces the traditional retail center core of a department store with a series of services. And, throughout, the new jcpenney store experience will merge the physical and digital worlds.

Also included in the new brand identity is a new jcpenney logo, which combines the elements that have made jcpenney an enduring American brand, by evoking the nation’s flag and jcpenney’s commitment to treating customers “fair and square.”

“Beginning on February 1, our customers will see immediate changes that give a sense of how we will transform jcpenney over the next 4 years,” Francis says. “It will be a breath of much-needed fresh air and give them reasons to visit jcpenney more often than ever before.”

The company will begin the transformation of the jcpenney shopping experience on February 1, with the implementation of its new logo, “fair and square” pricing strategy and monthly cadence, including new in-store signage reflecting true price clarity as well as edited merchandise assortments for the monthly store set.

Then, beginning in August of this year, jcpenney will begin a month-by-month, shop-by-shop strategy to update all stores with new merchandise and presentation. Two to three shops will be installed monthly, each and every month, over a 4-year transformation period, including the debut of Town Square during 2013. These initiatives will culminate in the complete transformation of jcpenney’s 1,100 stores by the end of 2015.

Over 110 years ago, James Cash Penney founded his company on the principle of treating customers “fair and square.” Today, J. C. Penney Company, Inc. is re-imagining every aspect of its business in order to reclaim its birthright and become America’s favorite store. For more information, visit www.jcp.com.


  

 

SOURCE: J. C. Penney Company

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