Seeking Alpha

J.C. Penney tanks on new credit concerns

  • Shares of J.C. Penney (JCP -9.5%) nosedive after The New York Post reports the retailer is having more credit problems.
  • Sources indicate commercial lender CIT has stopped supporting deliveries from small manufacturers to J.C. Penney stores on credit fears.
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Comments (6)
  • youngdub774
    , contributor
    Comments (92) | Send Message
     
    And Ackmans day just gets worse.
    31 Jul 2013, 04:45 PM Reply Like
  • NLTInvestor
    , contributor
    Comments (345) | Send Message
     
    LOLOLOL. And here I was thinking that I had $40 in JCP and I have a bad day.
    31 Jul 2013, 05:22 PM Reply Like
  • positivethoughts
    , contributor
    Comments (2011) | Send Message
     
    This reminds me, Hudsons Bay will run Saks into the ground in a lightening second. Watch for it.

     

    If CIT is supporting deliveries from smaller vendors that supply JC Penney going forward, it is likely because the smaller vendors are demanding payment with delivery.
    31 Jul 2013, 04:51 PM Reply Like
  • David Pinsen
    , contributor
    Comments (1076) | Send Message
     
    I looked at hedging JCP as a risky stock back in May. Someone in the comments brought up Soros: http://seekingalpha.co... No one bats .1000.
    31 Jul 2013, 05:34 PM Reply Like
  • Jake2992
    , contributor
    Comments (831) | Send Message
     
    New York Post is about the least credible source of information available behind Fox News.
    31 Jul 2013, 08:33 PM Reply Like
  • thesullster
    , contributor
    Comments (15) | Send Message
     
    Time for puts!
    31 Jul 2013, 09:53 PM Reply Like
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