• Yesterday, 10:27 AM
    Yesterday, 10:27 AM | 10 Comments
  • Yesterday, 7:25 AM
    • J.C. Penney (NYSE:JCP): Q4 EPS of $0.64 beats by $0.03.
    • Revenue of $3.96B (-1.0% Y/Y) misses by $20M.
    • Shares -0.15% PM.
    • Press Release
    Yesterday, 7:25 AM | 13 Comments
  • Yesterday, 7:22 AM
    • J.C. Penney (NYSE:JCP) reports comparable sales fell 0.7% in Q4 vs. -0.5% consensus estimate.
    • The company says it top performing categories were Home, Sephora, Salon and Fine Jewelry.
    • Gross margin fell 100 bps to 33.1% of sales due in part to a higher mix of promotional online sales. Analysts expected a markt closer to 34%.
    • SG&A expenses improved 70 bps to 23.4% of sales.
    • "We are pleased that in the face of a very challenging 2016 retail environment we delivered our first positive net income since 2010," says CEO Marvin Ellison.
    • Looking ahead, J.C. Penney expects comparable sales growth of -1% to +1% and EPS to fall in a range of $0.40 to $0.65.
    • The company also says it will close 130 to 140 stores in the next few months and offer voluntary retirement packages to 6K employees.
    • JCP +2.04% premarket to $7.00.
    Yesterday, 7:22 AM | 3 Comments
  • Thu, Feb. 23, 5:30 PM
    Thu, Feb. 23, 5:30 PM | 5 Comments
  • Thu, Feb. 23, 2:37 PM
    • Shares of J.C. Penney (JCP -0.5%) could be volatile tomorrow with the company due to report earnings in the morning.
    • Bloomberg Intelligence reports that options trading implies a 10% move in JCP up or down after the print. Also keep in mind that short interest represents +30% of J.C. Penney's outstanding float.
    • Analysts expect revenue of $3.98B and EPS of $0.61 from the retailer for the holiday quarter, although the guidance issued for FY18 could be the main event.
    Thu, Feb. 23, 2:37 PM | 18 Comments
  • Thu, Feb. 23, 10:03 AM
    • Dismal guidance from L Brands (LB -15.7%) is taking shares of other mall retailers lower. Kohl's (KSS -0.1%) also delivered an uninspiring Q4 earnings report, although it topped estimates.
    • While a surprising 20% drop in comparable sales for the once-resilient Victoria's Secret was alarming, the broader theme impacting the sector is that L Brands is having trouble selling soap, candles and higher-margin bras amid lower mall traffic.
    • Notable decliners include Urban Outfitters (URBN -2.5%), American Eagle Outfitters (AEO -2.3%), Nordstrom (JWN -2.7%), Stein Mart (SMRT -1.6%), Buckle (BKE -2.8%), Tilly's (TLYS -1.4%), J.C. Penney (JCP -2.1%), Abercrombia & Fitch (ANF -2%), Gap (GPS -1.7%), Tailored Brands (TLRD -0.4%) and Express (EXPR -2.2%).
    • Previously: Kohl's sets initial 2017 guidance (Feb. 23)
    • Previously: Weakness at Victoria's Secret impacts L Brands (Feb. 22)
    • Previously: L Brands roundup: Multi-year low amid soap, candles, bras sales pressure (Feb. 23)
    Thu, Feb. 23, 10:03 AM | 12 Comments
  • Tue, Feb. 21, 8:22 AM
    • Chief executives from some of the nation's biggest manufacturers are calling on House and Senate leadership to overhaul the corporate tax code and embrace a proposal that would reduce the cost of exports but penalize imports.
    • "We applaud your efforts to pursue tax reform that is both big and bold," the letter states. "Incremental tweaks will not level the playing field for American workers or dramatically reinvigorate economic growth."
    • Among the 16 executives who signed the letter are CEOs from Boeing (NYSE:BA), Caterpillar (NYSE:CAT), Raytheon (NYSE:RTN) and United Technologies (NYSE:UTX) - all part of the newly formed American Made Coalition.
    • The plan faces significant opposition from the retail industry, however, with top industry leaders flying to Washington last week to press their case. They have established their own lobbying group, the Coalition for Affordable Products.
    • Previously: Heavyweight retail CEOs to meet with POTUS (Feb. 15 2017)
    Tue, Feb. 21, 8:22 AM | 24 Comments
  • Fri, Feb. 17, 8:57 AM
    • Piper Jaffray sees some sideways action for a trio of department stocks.
    • Nordstrom (NYSE:JWN) is rated at Neutral, with a price target of $41 vs. $44.18 close yesterday.
    • Kohl's (NYSE:KSS) is set at Neutral, with a PT of $40 vs. $41.53 prior close.
    • J.C. Penney (NYSE:JCP) also lands a Neutral rating, with a $8 PT vs. $7.03 prior close.
    Fri, Feb. 17, 8:57 AM | 7 Comments
  • Wed, Feb. 15, 8:25 AM
    • The retail sector gets a crack at explaining its position on tax reforms and economic growth in a White House meeting today with President Trump.
    • Reuters reports that Target (NYSE:TGT) CEO Brian Cornell, Best Buy (NYSE:BBY) CEO Hubert Joly, Gap (NYSE:GPS) CEO Art Peck, Autozone (NYSE:AZO) CEO William Rhodes, Walgreens Boots Alliance Inc (NASDAQ:WBA) CEO Stefano Pessina, J.C. Penney (NYSE:JCP) CEO Marvin Ellison, Jo-Ann Stores CEO Jill Soltau and Tractor Supply (NASDAQ:TSCO) CEO Gregory Sandfort will be in attendance.
    Wed, Feb. 15, 8:25 AM | 24 Comments
  • Mon, Feb. 13, 9:00 AM
    • Morgan Stanley boosts J.C. Penney (NYSE:JCP) to Equal Weight from Underweight off a more positive view on valuation.
    • The investment firm has a $7 price target on JCP, which averages out the bull case ($14 PT) and bear case ($2) scenarios.
    • Shares of JCP are moving off the Morgan endearment, up 2.80% premarket to $7.34.
    Mon, Feb. 13, 9:00 AM | 6 Comments
  • Fri, Feb. 3, 10:20 AM
    • The department store is ablaze after the WSJ reports Hudson's Bay is in talks with Macy's about a potential takeover.
    • J.C. Penney (JCP +1.5%), Kohl's (KSS +1.6%), Nordstrom (JWN +3.1%), Dillard's (DDS +2.3%) and Bon-Ton Stores (BONT +7.6%) have all moved higher.
    • Previously: Macy's spikes off of Hudson's Bay takeover talk (Feb. 3)
    Fri, Feb. 3, 10:20 AM | 5 Comments
  • Thu, Feb. 2, 10:07 AM
    • There are dueling forces of gravity in the department store sector today after a NY Post story recharges Macy's M&A speculation and Goldman Sach issued a bearish call on Nordstrom (JWN -1.2%).
    • The group has been hammered in 2017 with double-digit share declines up and down the sector, pushing forward valuations into the single digits on many names.
    • On watch: Dillard's (DDS +1.4%), J.C. Penney (JCP +1.7%), Sears Holdings (SHLD -0.5%), Kohl's (KSS), Gordmans Stores (GMAN +3%).
    • Previously: Macy's jumps on talk of PE-structured real estate deal (Feb. 2)
    Thu, Feb. 2, 10:07 AM | 2 Comments
  • Fri, Jan. 27, 12:01 PM
    • Retail stocks are heading lower after GDP came in lower than anticipated today and with the margin-crunching border adjustment tax proposal and Mexico trade war implications still hanging in the wind.
    • Notable decliners include Stein Mart (SMRT -5.1%), Ascena Retail (ASNA -3.7%), Guess (GES -3.5%), Nordstrom (JWN -3.7%), Gap (GPS -3.7%), Express (EXPR -2.7%), L Brands (LB -3.4%), Francesca's (FRAN -2.7%), Abercrombie & Fitch (ANF -2.6%), J.C. Penney (JCP -4.9%), Kohl's (KSS -3.9%), Macy's (M -3.6%). Dillard's (DDS -2.9%), Dollar Tree (DLTR -1.9%), Dollar General (DG -1.9%), Target (TGT -1.6%), Costco (COST -1.8%), Wal-Mart (WMT -1.9%) and Big Lots (BIG -1.4%).
    • The broad-based S&P Retail ETF (NYSEARCA:XRT) is down 1.55%.
    Fri, Jan. 27, 12:01 PM | 52 Comments
  • Wed, Jan. 18, 7:37 AM
    • Credit Suisse dives into the department sector amid the shifting sands in the sector.
    • The firm upgrades Nordstrom (NYSE:JWN) to Outperform and boosts its price target to $58.
    • J.C. Penney (NYSE:JCP) and Kohl's (NYSE:KSS) are both lowered to Underperform and catch price targets of $7 and $58, respectively.
    • JWN +0.54% premarket to $44.62. JCP -2.88% to $6.74. KSS -2.37% to $40.40.
    Wed, Jan. 18, 7:37 AM | 9 Comments
  • Tue, Jan. 17, 10:21 AM
    • J.C. Penney (JCP +3.3%) announces it added Nike (NKE +1.5%) shops in 600 of its stores.
    • The new brand shops will include an expanded assortment of Nike products in a "prominent" 500-square foot area of space.
    • Nike is also getting some extra real estate on the JCP website.
    • J.C. Penney press release
    Tue, Jan. 17, 10:21 AM | 18 Comments
  • Fri, Jan. 13, 2:15 PM
    • Some major store chain names are lower after the retail sales report this morning showed weakness in some key categories and GameStop issued disappointing sales numbers for the holiday period.
    • Best Buy (BBY -0.7%), Wal-Mart (WMT -1%), Target (TGT -1.3%), Signet Jewelers (SIG -3%), J.C. Penney (JCP -1.6%), Nordstrom (JWN -1.4%) and Conn's (CONN -4%) are some of the stocks in the retail sector that are trailing market averages.
    • Earlier today, Stifel's Lindsay Piegza told Seeking Alpha that consumers are waiting for the proof of the Trump GDP breakout amid the reality of higher healthcare costs. At least for today, some investors may be doing the same.
    • Previously: Retail sales fall short of estimates (Jan. 13)
    • Previously: Stifel Nicolaus says consumers are waiting for the proof (Jan. 13)
    Fri, Jan. 13, 2:15 PM | 31 Comments