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Deutsche Bank calls the surprise departure of J.C. Penney's (JCP -10.2%) President Michael...

Deutsche Bank calls the surprise departure of J.C. Penney's (JCP -10.2%) President Michael Francis a "a catastrophic blow" for the bull case in the stock, given the timing of the announcement and his short tenure. Mr. Francis was expected to play a key role in revamping the stores image and was considered vital to the store's recruitment of new brands. The firm maintains a Hold rating on the shares.
Comments (1)
  • Give the store time. When the mini store concept is in place the stock and customers will both increase.
    19 Jun 2012, 02:50 PM Reply Like
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