JCP, the New and Improved JCPenney

JCP, the Texas-based department store formerly known as JCPenney, has a new attitude and look. Its new logo, left, suggests more style, as does its new monthly catalog. The debut issue is titled "March is Madness without JCPenney." (And yes, there's a basketball story in the catalog, along with college hoops team T-shirts.)

The look reminds me a bit of Target, emphasizing personal style without going overboard on fads, and spotlighting a few select items rather than crowding each page with lots of photos and text.

New pricing strategy: Instead of a new sale every week (or more frequently), JCP is promoting "everyday prices" and "month-long values." And it will have "best prices" markdown days twice a month, with blue price tags--hey, remember those old K mart Blue Light Specials? Blue is the new color of savings, apparently.

JCP needs this strategy to succeed: It's expensive to implement, and retailing is more intensely competitive than ever.