J.C. Penney Company Inc.NYSE
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  • 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 | 2 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 | 39 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 | 14 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)
    | 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
  • Thu, Aug. 18, 9:33 AM
    • J.C. Penney (JCP +0.2%) unveiled a detailed update on strategy and financial targets, but what it didn't do is announce more store closings like major retailers such as Macy's and Wal-Mart.
    • The company, which closed 48 stores between 2015 and the first part of 2016, intends to use its real estate footprint to complement its e-commerce business. A larger focus on selling appliances also requires the brick-and-mortar presence.
    • "The appliance market is expected to grow at 30 percent over the next three years," CEO Marvin Ellison noted to CNBC. "There's not many retail categories that have that type of growth predictions or trajectory over the next three years."
    • Previously: J.C. Penney talks future strategy at Analyst Day (Aug. 17)
    • More on JCP's Analyst Day at
    | Thu, Aug. 18, 9:33 AM | 5 Comments
  • Wed, Aug. 17, 5:01 PM
    • J.C. Penney (NYSE:JCP) discloses a series of top priorities as part of its Analyst Day presentation.
    • The company thinks it will have a strategic advantage in special sized apparel, home furniture/appliances, and beauty (Sephora/The Salon).
    • On the e-commerce side, more stores are up to speed for same-day pickup and to process ship-to-store orders.
    • Long-term financial targets were also set by the department store operator. Comparable sales growth of 3% is expected for 2017 to 2019 and EPS is seen rising to a range of $1.40 to $1.55 by 2019.
    • JCP press release
    • JCP is -0.28% AH to $10.72 or about 7X the top end of the long-term EPS target.
    | Wed, Aug. 17, 5:01 PM
  • Wed, Aug. 17, 11:16 AM
    • Soft earnings reports from Target, Lowe's, and Staples are tainting the retail sector today.
    • A loose theme among the trio is that they are feeling the impact of general store traffic pressure on one front and under-performing Amazon on the e-commerce side (or Home Depot in the case of Lowe's).
    • Notable movers include Office Depot (ODP -7%), Pier 1 Imports (PIR -2.7%), Haverty Furniture (HVT -1.1%), Sears Holdings (SHLD -6.5%), Stage Stores (SSI -3%), Nordstrom (JWN -2.4%), Tilly's (TLYS -0.8%),  Zagg (ZAGG -2.7%), Party City (PRTY -1.3%), J.C. Penney (JCP -4.4%), Restoration Hardware (RH -4.1%) Bed Bath & Beyond (BBBY -1.9%), Williams-Sonoma (WSM -2.8%), and Kohl's (KSS -2.3%),
    • Looking ahead, Wal-Mart (WMT -0.3%) reports earnings tomorrow before the bell. The same-store sales bar is relatively low after the company guided for a 1% gain for U.S. SSS and with the consensus estimate of analysts even lower at +0.9%. Perhaps more important than Q2 numbers will be the comments from Wal-Mart  management on the integration and the impact of higher base wages.
    | Wed, Aug. 17, 11:16 AM | 26 Comments
  • Mon, Aug. 15, 3:01 PM
    • Moovweb CEO Ajay Kapur believes J.C. Penney (JCP +6.5%) could drive mobile sales higher through a partnership with Apple Pay.
    • "It takes first-time shoppers 2:07 minutes to check out on J.C. Penney’s mobile site. Now imagine if that was reduced to 30 seconds, or required only a thumbprint? The results could be astronomical," notes Kapur.
    • Shopping cart abandonment by consumers due to misbehaving mobile apps is considered a nagging issue across some parts of the retail sector. Moovweb thinks the lost opportunity could run as high as $4.8M for JCP this quarter.
    • Previously: J.C. Penney on the move ahead of analyst day (Aug. 15)
    | Mon, Aug. 15, 3:01 PM | 2 Comments
  • Mon, Aug. 15, 10:35 AM
    • J.C. Penney (NYSE:JCP) is up 5.03% to climb over the $11 level for the first time since March 31.
    • A key point from the company's Q2 report issued last week was the backing of JCP's $1B FY16 EBITDA guidance. This week, J.C. Penney hosts its first analyst day since 2014 during which more details on EBITDA targets are expected to be revealed.
    • Over the weekend, several Seeking Alpha contributors dived into J.C. Penney's financials to issue new outlooks for investors to digest.
    | Mon, Aug. 15, 10:35 AM | 2 Comments
  • Fri, Aug. 12, 11:50 AM
    • J.C. Penney (NYSE:JCP) is at a multi-month high after today's earnings report and yesterday's Macy's store-closing reveal pushes shares back over $10.
    • Sephora and JCP's new online pickup program helped drive the company to the only positive comparable sales growth mark in the department store sector this quarter.
    • Previously: J.C. Penney slips in early trading after earnings (Aug. 12)
    | Fri, Aug. 12, 11:50 AM | 1 Comment
  • Fri, Aug. 12, 7:43 AM
    • J.C. Penney (NYSE:JCP) reports same-store sales rose 2.2% in Q2.
    • The best performing categories during the quarter were Sephora, home, footwear, and handbags.
    • Gross margin rate improved 10 bps to 37.1%.
    • SG&A expenses fell 210 bps to 29.2% of sales as corporate overhead was lowered and more store costs reined in.
    • The company ended the quarter with an inventory position of $2.981B, down 1% from a year ago.
    • J.C. Penney expects comparable-store sales to increase 3% to 4% for the full year. The company expects EPS to be positive for 2016. Looking ahead to next year, J.C. Penney sees $1B in EBITDA being generated.
    • Previously: J.C. Penney beats by $0.10, revenue in-line (Aug. 12)
    • JCP -2.41% premarket to $9.70.
    | Fri, Aug. 12, 7:43 AM | 17 Comments
  • Fri, Aug. 12, 7:35 AM
    • J.C. Penney (NYSE:JCP): Q2 EPS of -$0.05 beats by $0.10.
    • Revenue of $2.92B (+1.4% Y/Y) in-line.
    • Shares -0.9% PM.
    • Press Release
    | Fri, Aug. 12, 7:35 AM | 1 Comment
  • Thu, Aug. 11, 5:30 PM
    | Thu, Aug. 11, 5:30 PM | 4 Comments