JCP
J.C. Penney Company Inc.NYSE
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  • Fri, Dec. 2, 7:06 AM
    • Bank of America Merrill Lynch boosts its rating on J.C. Penney (NYSE:JCP) to Buy from Neutral.
    • The investment firm takes its price target on JCP to $12.
    • JCP +2.41% premarket to $9.76 vs. a 52-week trading range of $6.00 to $11.99.
    | Fri, Dec. 2, 7:06 AM | 1 Comment
  • Tue, Nov. 29, 11:21 AM
    • J.C. Penney (NYSE:JCP) is up 4.45% on the day as some trailing Black Friday checks come in positive on the department store chain.
    • Ex-JCP CEO Allen Questrom was on CNBC earlier today. In an important point, he noted that department stores are relying on sales too much to connect with younger consumers, even though they are a generation or two removed from many long-time department store shoppers.
    • "They need to understand the millennial ... needs inspiration, not aspiration. They come from a whole different era," maintains Questrom.
    • CNBC video
    | Tue, Nov. 29, 11:21 AM | 2 Comments
  • Tue, Nov. 29, 9:20 AM
    • The latest read from Redbook on retail store sales indicates that sales are up 1.2% Y/Y through the first 26 days of the month. Redbook expects a 1.4% gain for the month.
    • Department stores reported strength in gift merchandise, including small appliances, accessories and cold weather apparel. The level of discounting in the sector will have a large impact on how Q4 earnings play out.
    • Related stocks: DDS, M, SSI, BONT, SHLD, JCP, KSS, JWN.
    • Previously: Redbook Chain Store Sales: +2.2% (Nov. 29)
    | Tue, Nov. 29, 9:20 AM | 15 Comments
  • Mon, Nov. 14, 2:05 PM
    • Baird sees a positive risk-reward profile on J.C. Penney (JCP +5.5%) at around the $9 level, with "self-help" initiatives in place.
    • Appliances, Sephora, private brands and moderating apparel headwinds set up JCP to give patient investors a reward over the long term, advises the Baird team.
    | Mon, Nov. 14, 2:05 PM
  • Mon, Nov. 14, 10:33 AM
    • Department store stocks are rallying right along with other mall names on a boost in confidence from investors and analysts that consumer spending will perk up and GOP tax policy will help lift profits across the sector.
    • Sears Holdings (SHLD +4.3%), J.C. Penney (JCP +3.8%), Kohl's (KSS +5.1%), Bon-Ton Stores (BONT +6.7%), Nordstrom (JWN +5.7%) and Dillard's (DDS +4.8%) are all solidly higher.
    • An interesting case is Macy's (M +5.2%) which drew the ire and Twitter hostility from Donald Trump during the primaries. Shares of Macy's are up 18% since the election as investors assume that the Trump-Macy's feud is a non-factor.
    • Previously: Vibrant rally for clothing and footwear stocks (Nov. 14)
    • Previously: Investors see upside with apparel store stocks (Nov. 14)
    | Mon, Nov. 14, 10:33 AM | 7 Comments
  • Fri, Nov. 11, 9:25 AM
    | Fri, Nov. 11, 9:25 AM | 1 Comment
  • Fri, Nov. 11, 8:15 AM
    • J.C. Penney (NYSE:JCP): Q3 EPS of -$0.21 in-line.
    • Revenue of $2.86B (-1.4% Y/Y) misses by $100M.
    • Shares -7.72% PM.
    • Press Release
    | Fri, Nov. 11, 8:15 AM
  • Fri, Nov. 11, 7:50 AM
    • FQ3 EPS of ($0.22) was shy of estimates by a penny. Revenue of $2.86B missed consensus of $2.96B.
    • Comp store sales fell 0.8%, but management is encouraged by more than 2% comp store sales growth in the month of October, and hopes to see the same in Q4.
    • They do, however, cut full-year comp store sales growth guidance to 1-2%.
    • Conference call at 8:30 ET
    • JCP -8%
    • Press release
    | Fri, Nov. 11, 7:50 AM | 10 Comments
  • Thu, Nov. 10, 5:30 PM
  • Mon, Oct. 24, 9:25 AM
    • J.C. Penney (NYSE:JCP) is now testing out a smaller version of the Sephora shops that it places strategically within its stores.
    • If the trial is successful, the company could roll out the new 350-square-foot boutiques inside the smaller stores that it operates.
    • Sales per square foot for Sephora shops average more than 3X the normal JCP mark.
    | Mon, Oct. 24, 9:25 AM | 3 Comments
  • Fri, Oct. 14, 9:05 AM
    • Retail sales increased 2.7% Y/Y and 0.6% M/M in September on broad gains across categories. The sales totals for August were also nudged slightly higher.
    • Sales from nonstore retailers like Amazon (NASDAQ:AMZN) were up 10.6% Y/Y to once again account for a higher percentage of overall sales.
    • The building material & garden equipment category showed a 1.4% M/M and 5.6% Y/Y gain which bodes well for Home Depot (NYSE:HD) and Lowe's (NYSE:LOW).
    • Department stores (DDS, SHLD, JCP, M, JWN) lagged again as sales fell 0.7% M/M and 6.4% Y/Y, while furniture and home furnishing stores (HVT, WSM, KIRK, RH, BBBY) outpaced the broad averages in the sector.
    • Restaurant sales (NASDAQ:BITE) showed a nice jump from August, although the breakdown between large publicly-traded chains and independent restaurants isn't broken down.
    • The early take from retail analysts is that the overall tone from the report is ever-so-slightly positive for Wal-Mart (NYSE:WMT) and Target (NYSE:TGT).
    • Previously: Retail sales track higher as expected (Oct. 14)
    | Fri, Oct. 14, 9:05 AM | 40 Comments
  • Wed, Sep. 28, 1:30 PM
    • Moody's boosts its view on J.C. Penney (JCP -1.7%) to Positive from Stable as part of a credit ratings increase (B1 from B3).
    • The ratings agency digs into the numbers far enough see to continued operating margin gains for JCP, despite soft mall trends.
    • "While we acknowledge the company has had easier comparisons than most of its peers, its continued progress has resulted in significant deleveraging which is evidence of the traction of its initiatives and the recovery of market share."
    • Moody's JCP report summary
    | Wed, Sep. 28, 1:30 PM | 15 Comments
  • Tue, Sep. 20, 10:30 AM
    • J.C. Penney (JCP -1.1%) announces it will hire 40K workers this year to help it meet demand around the holiday season.
    • The company hired about 30K workers last year.
    • The 33% increase in holiday season employee adds stands in contrast to the flat hiring growth of department store peers and general merchandise retailers. Even Amazon only bumped up its hiring by 2% this year.
    • The higher number could be an indication that a lower percentage of holiday workers were kept on full-time last year.
    | Tue, Sep. 20, 10:30 AM | 8 Comments
  • Fri, Sep. 2, 7:32 AM
    • "While the situation is still developing, the prospect of harm is significant and apparent,” writes the Retail Industry Leaders Association to the Department of Commerce and the Federal Maritime Commission in wake of the bankruptcy filing of South Korea's Hanjin Shipping.
    • Hanjin handles nearly 8% of trans-Pacific trade volume, and terminal operators, ports, cargo handlers, truckers, and others are refusing to handle its cargo over fear they won't get paid.
    • The resulting chaos in the shipping industry - U.S.-bound cargo isn't leaving port, cargo-filled Hanjin ships can't get into U.S. ports, already delivered cargo sits un-handled - comes as U.S. retailers are about to begin stocking up for the holiday season.
    • Those most exposed include Wal-Mart (NYSE:WMT), Target (NYSE:TGT), and J.C. Penney (NYSE:JCP). Home Depot (NYSE:HD) says Hanjin isn't its only carrier, so it's not expecting a material impact.
    • Previously: Hanjin ships get stranded at sea (Sept. 1)
    • ETFs: XLP, XLY, VDC, XRT, VCR, RTH, RETL, FXG, FXD, RHS, FDIS, FSTA, RCD, PMR, JHMC, JHMS, CNSF, CNDF
    | Fri, Sep. 2, 7:32 AM | 25 Comments
  • Fri, Aug. 26, 10:03 AM
    • There are two positive trends working for J.C. Penney (JCP +0.9%) with rivals such as Macy's and Sears exiting from many malls.
    • The company should see more leverage in in negotiating rent in certain malls and can lap up the extra sales from the reduced physical footprint of the department store group.
    • Sephora, home furnishings, and appliances are three key areas of focus for JCP as it sticks to CEO Marvin Ellison's plan.
    | Fri, Aug. 26, 10:03 AM | 13 Comments
  • Thu, Aug. 25, 2:42 PM
    • J.C. Penney (JCP +0.2%) edges higher after the company disclosed that CEO Marvin Ellison was a buyer of 50K shares.
    • The mild gain for JCP stands out with the majority of the department store sector lower after a dismal earnings report from Sears Holdings.
    • SEC Form 4
    | Thu, Aug. 25, 2:42 PM | 6 Comments