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Thursday, Feb 28
J.C. Penney's (JCP) earnings video call was slick on presentation, but seemed to raise more...
J.C. Penney's (JCP) earnings video call was slick on presentation, but seemed to raise more questions than answer: 1) With no guidance for the current quarter given, is the wind now out of the sail on the JCP bull thesis that a reversal in sales started to percolate this year? 2) What is the growth rate at the retailer's "shops" in a climate where comp sales fell 31.7% and online sales crashed 34%? 3) How much of the quarterly boost in cash flow was a result of vendor payments getting stretched out to 36 days from 25 days? 4) Can hiring a marketing adviser best known for the disastrous launch of New Coke possibly inspire confidence? (webcast)