- J.C. Penney (JCP) is reportedly leaning toward raising between $750M to $1B in a new equity raise, although other avenues of raising capital are still on the table.
- Yesterday, a pair of negative research notes took a heavy toll on JCP shares to take them below the $10 mark for the first time since 2000.
- Cash burn is one of the most pressing issues at J.C. Penney with the retailer forecast to to consume $1.1B in cash during the first three quarters of fiscal 2014. If holiday sales miss the mark of analysts, the situation becomes even more dire.
J.C. Penney readies to pull some levers
Sep 26 2013, 04:50 ET