Fitch cuts the rating on J.C. Penney's (JCP -1.4%) credit to BB- from BB+ to reflect its view...


Fitch cuts the rating on J.C. Penney's (JCP -1.4%) credit to BB- from BB+ to reflect its view that top-line revenue will be "materially negative" right through the back-to-school and holiday seasons. It doesn't appear the ratings agency is a Ron Johnson-fanboy: "The recent revisions around the promotional stance and messaging could further exacerbate traffic trends."

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Comments (2)
  • hotrodjj
    , contributor
    Comments (48) | Send Message
     
    What a shocker! Who could've seen that coming, huh.
    2 Aug 2012, 04:01 PM Reply Like
  • modanco
    , contributor
    Comments (36) | Send Message
     
    C'mon Board of Directors!!!!!! When are you gonna get rid of Johnson. He is a disease that is destroying the company...very quickly. Stock is down to $20.46 after today's trading (-2.66%).
    2 Aug 2012, 07:17 PM Reply Like
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