J.C. Penney readies to pull some levers

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

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.