J.C. Penney's Pricing Debacle

In 2012, J.C. Penney, under the leadership of new CEO Ron Johnson, unveiled an ambitious retail strategy, including a novel pricing approach called "fair and square pricing." This strategy aimed to eliminate deceptive discount pricing and introduce straightforward, honest pricing. However, it backfired spectacularly, causing the department store to lose nearly 1.5 million customers and $700 million in a short period of time.