Fresh takes on J.C. Penney (JCP -11.7%): 1) Piper Jaffray calls the company "powerless" to...

Fresh takes on J.C. Penney (JCP -11.7%): 1) Piper Jaffray calls the company "powerless" to prevent a further deterioration of sales, expecting another $1B in cash to get burned up this year. 2) Deutsche Bank warns that with Bill Ackman losing his influence with the retailer's board he could lighten his stake and put significant pressure on shares. 3) Hedgeye thinks a sale might be a way out of the morass for new CEO Myron Ullman. "He could help to put lipstick on the pig and get it sold." (JCP timeline)

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Comments (3)
  • karmike
    , contributor
    Comments (190) | Send Message
    It is apparent that JCP's board and management have totally lost the handle! As I've stated on these boards before, they are in retail purgatory having no margin to promote, leaving them in the awkward and unpopular position of raising prices on lower quality goods to be able to do so. They need to stop the bleeding ASAP and have to ask, is an ex- employee who was released earlier for lack of performance better than anyone in- house???
    9 Apr 2013, 01:28 PM Reply Like
  • mcl12342
    , contributor
    Comments (26) | Send Message
    Who would you suggest in house. At least short term, it seems like the best choice based on he would have recent knowledge of JCP operations and his lack of performance during a recession was nowhere near Mr. Johnson's past year.
    I think customers and employees hope Mr. Ullman can save JCP.
    9 Apr 2013, 03:46 PM Reply Like
  • champs2013
    , contributor
    Comments (4) | Send Message
    Now to rehire the jcp associate that were laid off. they have the skills to run jcp back up
    9 Apr 2013, 10:17 PM Reply Like
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