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J.C. Penney (JCP) trades weak in premarket action, down 4.3%, with Credit Suisse chiming in with...

J.C. Penney (JCP) trades weak in premarket action, down 4.3%, with Credit Suisse chiming in with a dour reiteration of its Underperform rating and Morgan Stanley chipping away at profit estimates on the retailer. Any kind of short-term trading in JCP looks as dangerous as ever with longs (Vornado, State Street, Pershing Square) and shorts (60M) duking it out.
Comments (10)
  • You gotta believe in those with skins in, that is, put money where their mouths are!

     

    Analysts are a fickle bunch - their primary goal is to make a fame. So naturally the more radical, the better - assuming one turns out to be right. Thus they tend to make hundreds 'predictions' - 99% will turn out to be wrong. The one that hits, they will claim how smart they are.
    15 Feb 2013, 12:07 PM Reply Like
  • Same with Pershing or Gotham.
    15 Feb 2013, 04:50 PM Reply Like
  • A good buy point, if you believe there is any life at all in JCP, might be right after the release of the catastrophic 4th quarter and year end results on the 27th. Ron Johnson has gotten sales down to the point where anyone could post a couple of same store sales gains in 2013, and there appear to be enough die hard Penney supporters to drive the stock back up a bit.
    15 Feb 2013, 04:52 PM Reply Like
  • karmike, you always crack me up. When you read these opinions by some of the 'analysts' on here or people are experiencing crowds a la Lady of Guadalupe at JCP stores. Why people are so insistent to defend RJ and make the case that this has never been done before and that shops-within-a-shpp is groundbreaking on the scale of Al Gore inventing the internet is beyond me.
    17 Feb 2013, 09:29 AM Reply Like
  • I agree. I can't believe the support for RJ in his quest to ruin this
    company. He is now developing the area around the home office in Plano to sell/ lease to raise funds and has opened a credit line of 1.8 billion to further this madness. By the way, have you bought you Joe Fresh apparel yet?
    18 Feb 2013, 09:11 AM Reply Like
  • Our construction at our store is slated to start today or tomorrow for Joe Fresh. Our Home department construction starts here within two weeks. All the legwork has been done and the temporary walls are up later this afternoon for Joe Fresh. Yep, he has enough support at the right places and there is no turning back now.
    18 Feb 2013, 11:04 AM Reply Like
  • Nice Gmom,

     

    Only 25 construction days to open a big new store like Joe Fresh. Great.
    18 Feb 2013, 03:48 PM Reply Like
  • Pedroaf: Huh? Joe Fresh isn't going to be a big new store. It won't be much larger then the jcp shop. Now the Home dept will be big. I'm not really that interested in arguing with people when their minds are already made up. I guess one could say the same about me then since I see things very differently. I would like jcp to succeed with their plan for many reasons. Obviously others feel completely the opposite and are rooting for failure for their own reasons.
    18 Feb 2013, 10:19 PM Reply Like
  • You're right, I expressed it poorly. I mean Joe Fresh is a remodeling like JCP, Arizona, Levi's. Different from the "small" shops like Nanete Lepore, Cosabella, William Rast, LULU (this week) that they only add displays and some fixtures.

     

    Joe Fresh will be a full remodeling: floor, fixtures, lights.
    18 Feb 2013, 11:31 PM Reply Like
  • I remember when Penney's tried this once before. Newsweek magazine ran on their cover a picture of a woman's foot in high heels wearing athletic socks.....not very complementary. The store within a store of the day was Halston! By the way, the one price was tried also before that. These programs cost the company a ton of money in markdowns and missed opportunity, but the CEO didn't bet the farm on them ( thank goodness). It's a shame a CEO does not understand you cannot MAKE a customer buy something....you sell them what they want, when they want it, and in the sku's they need.....the second oldest profession isn't that difficult to understand really!
    19 Feb 2013, 08:47 AM Reply Like
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