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Shares of J.C. Penney (JCP +3.3%) trade higher after CNBC reports Black Friday sales were strong...

Shares of J.C. Penney (JCP +3.3%) trade higher after CNBC reports Black Friday sales were strong at the retailer. Is this the type of knee-jerk stock move that Barry Ritholtz is vociferously warning about being a media fantasy?
Comments (4)
  • thor34
    , contributor
    Comments (93) | Send Message
     
    answer: Yes
    28 Nov 2012, 09:57 AM Reply Like
  • Remyngton
    , contributor
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    JCP ... Not clear if strong sales will translate into profits
    28 Nov 2012, 10:27 AM Reply Like
  • GeorgeMason
    , contributor
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    JCP had their ONE SALE of the year, it doesn't mean they will show strong sales in future.
    28 Nov 2012, 12:42 PM Reply Like
  • brent.threadgill
    , contributor
    Comments (4) | Send Message
     
    They key here is sales from the renovated stores, as the sales/sq ft is double of the balance. Yes, the caveat is that only 10% of locations have been renovated, and we'll need to wait to see if the renovations to the balance is on schedule and budget.
    28 Nov 2012, 12:42 PM Reply Like
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