Market Movers

Penney to resume sales promotions

Penney had ended sales in favor of everyday low pricing.

Associated Press/File 2012

Penney had ended sales in favor of everyday low pricing.


J.C. Penney soared the most in four months after the department store company said it will resume holiday-related promotions, another adjustment to CEO Ron Johnson’s pricing strategy. The stock had lost 2.5 percent this month through Monday and slid 44 percent last year. Johnson, Apple’s former retail chief, eased up on his everyday low pricing model after revenue fell at least 20 percent for the past three quarters. J.C. Penney will hold sales tied to ‘‘key events and holidays.’’

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