J.C. Penney is revamping its pricing strategy six months after the mid-priced department store operator made a sweeping overhaul of its pricing structure, getting rid of hundreds of sales it offers in favor of a three-tier pricing approach. Now the company has decided to eliminate one of the tiers and bringing back the word “clearance,” effective Aug. 1. Here’s a breakdown of the structure.

TIER 1. “EVERY DAY” PRICES

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