J.C. Penney marks up prices to make room for discounts


The New York Post reported the cash-strapped department store is changing the prices on everything from clothes and shoes to big ticket items like jewelry and appliances.

"They had us up all night changing the prices on everything," a jewelry sales associate told the Post.

One source says that price tags are going up an average of 40 percent. This means that in some instances, the price difference is significantly more.

A diamond ring sold on discount in mid-December for $996 is now listed for $1,999.98. The original price before the December discount was $1,245.

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