JC Penney will be shifting its advertising spending away from television and into print, reports Advertising Age, citing Chief Executive Ron Johnson, who spoke with analysts to discuss the company’s second-quarter results.
"In many ways we were trying to build the brand ahead of its time, when we really needed to build the business," Johnson said of the retailer’s colorful marketing approach designed by former president Michael Francis, who left the company in June.
Instead, the retailer will invest in "traditional traffic-driving means," such as newspaper inserts. The company plans 30 print inserts for the latter half of the year, compared with only 11 inserts in the spring.
"To free up money for those investments, the retailer is cutting back on TV," the article notes.
"The tone of its TV ads has also shifted, with a focus on brands, products and pricing, rather than lifestyle. For example, back-to-school themed ads highlight a variety of denim brands, as well as free haircuts for kids in kindergarten through sixth grade. Mr. Johnson called the effort a ‘great brand deposit’ and said the retailer has already given 500,000 haircuts," according to the piece.
JC Penney reported a second-quarter loss of $147 million, while sales slid 23% to $3 billion.