JC Penney hopes deep price cuts draw shoppers - 13abc.com Toledo (OH) News, Weather and Sports

JC Penney is looking to draw shoppers back into its stores. So the department store chain is preparing to make deep price cuts on much of its merchandise.

The Wall Street Journal says this one involves permanent markdowns on merchandise in stores across the country, instead of cutting prices for a month on some items and then raising them again.

Penney's will now offer just two options - every day low prices and clearance sales on certain items.