Employees Out JCPenney for Deceptive Sales Ploy

by Karl Utermohlen | July 26, 2013 1:23 pm

JCPenney (JCP[1]) is being accused of deceiving its customers by raising the prices of its products, and proceeding to cut them down to the original amount with the purpose of swindling their customers. And it wasn’t even the customers who accused the retailer of hustling them–it was their own employees.

International Business Times reports[2] that a former employee and a current Florida employee have both claimed that JCPenney raises the prices of its products by a significant amount before cutting them down to their original prices.

A former Virginia employee claims that she saw a rack of $7 shorts have their price increased to $14, and later they were 50% off. A similar situation was seen with a tea kettle being sold in their online store which was first listed as $39.99, then $58, and then $39.99 again with $58 listed as the original price.

The struggling retailers issued a statement denying these claims and saying that although these constant price changes can confuse some people, they are simply the result of temporary promotional offers.

  1. JCP: http://studio-5.financialcontent.com/investplace/quote?Symbol=JCP
  2. International Business Times reports: http://www.ibtimes.com/jc-penney-tricks-customers-misleading-sale-prices-say-employees-1360215

Source URL: https://investorplace.com/2013/07/employees-out-jcpenney-for-deceptive-sales-ploy/
Short URL: http://invstplc.com/1nyeine