In its second-largest acquisition, Amazon buys the company for $970 million.
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Even one major retail chain that’s backed off using discounts as a sales tactic in the past year is making an exception during the pivotal shopping week. J.C. Penney Co. Inc., No. 20 in the guide, whose new CEO Ron Johnson revamped the chain’s marketing strategy to tout everyday low prices rather than sales, will offer special discounts on one day in the year—Black Friday—both online and in stores. Additionally, jcp.com will also host a Cyber Monday sale beginning on Nov. 25 with free shipping and online-only specials.
J.C. Penney will also join the ranks of those stores opening their doors early. J.C. Penny department store employees—equipped with mobile checkout devices—will begin welcoming shoppers at 6 a.m. on the day after Thanksgiving.