Deutsche Bank's Charles Grom worries sales at J.C. Penney (JCP) will slump next year as well,...
Tuesday, November 13, 2012, 7:16 AM ETDeutsche Bank's Charles Grom worries sales at J.C. Penney (JCP) will slump next year as well, leading to what the analyst calls a "going-concern problem" during the year. The thought runs counter to the analysts who tapped the retailer to finally enter a true turnaround phase next year with same-store sales comparables set up to be as soft as butter. Is Ron Johnson's Apple-JCP analogy starting to wear thin? NYT's Andrew Ross Sorkin thinks so: "The company doesn’t make its own magical, revolutionary products that bring tears of joy to its customers."
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