News Summary: Penney makes free haircuts permanent
NEW YORK (AP) — J.C. PENNEY'S FREE HAIRCUTS: After an overwhelming response to its free haircut program for kids last month, J.C. Penney will be making the offer permanent every Sunday, starting Nov. 4.
WHAT'S BEHIND IT: The move underscores how Penney CEO Ron Johnson is trying to overhaul every aspect of its business, from pricing to the shopping experience. The retailer is grappling with two quarters of losses and severe sales drops as shoppers have been confused over its new pricing plan that eliminates hundreds of sales events in favor of everyday pricing.
WHAT'S NEXT: Investors will be looking for any data that shows to what extent families who are taking advantage of the free haircuts are also picking up items for themselves in clothing or home goods.