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J.C. Penney (JCP) reports preliminary Q1 revenue of $2.635B, a mark which sits just short of the...

J.C. Penney (JCP) reports preliminary Q1 revenue of $2.635B, a mark which sits just short of the consensus estimate of analysts. A comparable store sales decline of 16.6% during the quarter is actually an improvement, but the retailer is starting to run up against soft comps. JCP +2.3% AH to $16.77 as the quarter for the retailer has some appearances of a bottoming out of the sales plunge with more home goods on tap for Q2.

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Comments (6)
  • karmike
    , contributor
    Comments (190) | Send Message
    Just how do you figure a 16.6 percent Same store sales LOSS is actually an "improvement"? Even IF this sick company hadn't been doing so badly, a sales loss over the comparable period last year is never "an improvement". Sure they are up against soft sales, and eventually an improvement will be seen, but lets not guild the Lilly just yet! -16.6 is horrible, even if it "meets" analyst expectation (and actually it missed that mark too!)
    7 May 2013, 06:05 PM Reply Like
    , contributor
    Comments (6) | Send Message
    As a retired associate, I think they will continue to have losses until they work through all of the bad merchandise they have as a result of Ron Johnson. Changing the merchandise mix in the future, and bringing back some core bead and butter goods, will automatically create sales gains. I our market JCP has the most trendy goods in the mall, across all depts. dept without recliners?? Drapery dept without valances?? no maternity?? no ready made blinds?? these were all categories jcp owned! Big $$$
    7 May 2013, 08:19 PM Reply Like
  • John Cusack's Pancreas
    , contributor
    Comments (44) | Send Message
    Lets see... Where to put my money if I were looking into the health of an American retailer? JCP vs. LOW or HD. Lets put this post in a time capsule and see which two are around in ten years.
    7 May 2013, 09:20 PM Reply Like
  • johnanexta
    , contributor
    Comments (80) | Send Message
    Given the abysmal pre-warning, the after hours actions seem very suspiciously like current billionaire shareholders trying to prop up the stock AH, so it doesn't collapse tomorrow.


    Lower sales, lower earnings, company about to take up debt that will overshadow assets and return of mgmt that wasn't that great in the first place...looks like time to add more short position.
    7 May 2013, 10:11 PM Reply Like
  • freed0m
    , contributor
    Comments (976) | Send Message
    Result from JCP is a huge slap on those who supported Ron Johnson.
    7 May 2013, 11:05 PM Reply Like
  • SMRoss8
    , contributor
    Comments (25) | Send Message
    First Quarter was Mr. Johnson's and with the exception of some tactical marketing and expense changes that Mr. Ullman can manage it will be true of 2nd and 3rd, as well. This calendar year may see some year on year recovery by Nov/Dec if the product pipeline gets filled properly for Christmas trade. What may surprise those that felt that everything done last year was wrong, is the upside from some of the scaled initiatives like Home and Joe Fresh.
    8 May 2013, 01:25 AM Reply Like
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