J.C. Penney slashing prices on all merchandise

MISHAWAKA, Ind. – For retail shoppers who are tired of scrambling to get deals, or use coupons that expire, J.C. Penney has a solution.

The company announced its chopping all prices, by 40 percent permanently. People at the Mishawaka J.C. Penney at University Park Mall say this could mean big changes for the retail business.

"It has to change, sooner or later we can't continue, retailers can't continue the way that we're going,” said manager Randy Peterson. “In the past we've looked at coupons, we've looked at lowering prices, playing games and we feel at this time that it's time to take a stand."

Peterson said shoppers can expect a grand unveiling of the new look and prices at J.C. Penney University Park, on February 1st.