Analysis: Customers creeping back to J.C. Penney

|About: J.C. Penney Company Inc. (JCP)|By:, SA News Editor

"The core customer is slowly coming back," writes Walter Loeb as he assesses the plight of J.C. Penney (JCP -4.1%).

Though acknowledging a turnaround is still a Herculean task, Loeb sees flat sales growth for Q3 and a double-digit jump in Q4 as the ship gets righted.

If his forecast is to turn out to be accurate, private labels and home goods will need to contribute quite a bit to JCP revenue.