Seeking Alpha

Few words from J.C. Penney on sales say a lot

J.C. Penney (JCPreaffirms its previous forecast for Q4, saying the company is "pleased" with its performance during the holiday period.

The retailer didn't disclose any sales data, only disclosing tersely that customers responded "well" to store and online offerings.

JCP -7.1% premarket to $7.61 as investors were looking for more from the company than a 38-word press release.

From other sites
Comments (9)
  • Clayton Rulli
    , contributor
    Comments (3250) | Send Message
    shows you mgmt is not trusted at all by this market
    8 Jan 2014, 08:44 AM Reply Like
  • Energysystems
    , contributor
    Comments (1807) | Send Message
    If they were pleased, they would have released data. That they didn't, says a lot.
    8 Jan 2014, 08:49 AM Reply Like
  • Stan Ackman
    , contributor
    Comments (1439) | Send Message
    JCP's current management has done a very poor job as far as PR. The fact that they selectively chose the words for each of the last monthly updates shows how unreliable the information is.
    8 Jan 2014, 08:54 AM Reply Like
  • sfinvestor
    , contributor
    Comments (1432) | Send Message
    EA, wfb and myself called it and warned. Nov SSS was fluff. Mgmt is afraid to disclose dec SSS. Dec was prob flat or worse.
    8 Jan 2014, 09:08 AM Reply Like
  • sfinvestor
    , contributor
    Comments (1432) | Send Message
    Flat to slightly lower top line sales vs last year (due to one less week against seq improvement of 2 percent) and 30 percent gross margin with much heavier debt load and no tax benefit from operating losses.. Jcp is still heading toward the path of BK.
    8 Jan 2014, 09:35 AM Reply Like
  • jstratt
    , contributor
    Comments (3428) | Send Message
    My guess is $7.61 would be a very profitable buy point.


    I think the downside has been removed and at earnings the stock will surge higher.
    8 Jan 2014, 10:22 AM Reply Like
  • carolnowaczyk
    , contributor
    Comments (4) | Send Message
    I want to give Penneys a thumbs up I believe they will rebound
    8 Jan 2014, 10:33 AM Reply Like
  • mobyss
    , contributor
    Comments (2298) | Send Message
    I'm going to take a risk on about 1000 shares at around 7.20 if it hits that today. I think this drop might be overdone and when real results are released they will be better than expected. This is completely anecdotal, but I was in a JCP before Christmas and it was packed. 15 minute line at the register. Of course everyone might have been buying deeply discounted items and the bottom line will reflect this.
    8 Jan 2014, 11:07 AM Reply Like
  • optionsexpert
    , contributor
    Comments (415) | Send Message
    Yeah, the company is flat out lying about sales, lol. They probably want to wait for more solid numbers before releasing them, to be honest.
    8 Jan 2014, 12:33 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs