J.C. Penney (JCP +2.5%) CFO Ken Hannah reiterates at the Goldman Sachs Global Retailing...

J.C. Penney (JCP +2.5%) CFO Ken Hannah reiterates at the Goldman Sachs Global Retailing Conference that the company should end the year with over a $1B in cash. While conceding that the retailer saw slumping traffic as a major challenge this year, the exec keeps the faith that the shops within stores concept will register with consumers. As part of its "shops" transformation, 700 similar-sized JCP stores will receive 100 shops each. Technology remains a major focus in stores, with plans to utilize RFID tagging, iPads, and refresh stations. (webcast)
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Comments (2)
  • anomaly1
    , contributor
    Comments (1081) | Send Message
    short Macy's M but not a JCP long at current valuation
    5 Sep 2012, 03:11 PM Reply Like
  • hotrodjj
    , contributor
    Comments (48) | Send Message
    Yeah, well where did the cash come from? It certainly didn't come from earnings. Oh yeah, it came from laying off employees and selling off non-core assets. Converting real valuable assets to cash to cover up all RJ's blunders. What happens when all non-core have been liquidated? Oh, Yeah, store closings. More bloviating from the JCP regime today, stock pops a dollar then rolls back as Ron's Groupies figure out that once again they are being played.
    5 Sep 2012, 03:14 PM Reply Like
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