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.
Comments (9)
  • shows you mgmt is not trusted at all by this market
    8 Jan, 08:44 AM Reply Like
  • If they were pleased, they would have released data. That they didn't, says a lot.
    8 Jan, 08:49 AM Reply Like
  • 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, 08:54 AM Reply Like
  • 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, 09:08 AM Reply Like
  • 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, 09:35 AM Reply Like
  • 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, 10:22 AM Reply Like
  • I want to give Penneys a thumbs up I believe they will rebound
    8 Jan, 10:33 AM Reply Like
  • 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, 11:07 AM Reply Like
  • 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, 12:33 PM Reply Like
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