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JCP

J.C. Penney Company Inc.

6/19/2013, 11:51 PM ET

Quote & Headlines Market Currents StockTalk

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Thursday, June 13, 8:43 AM More on May Retail Sales: As expected the late start to the spring season helped boost the building material & garden equipment category (HD, LOW, SHLD, WMT) as sales improved 0.9% M/M and 10.1% Y/Y. Grocery store sales (KR, SVU, SWY, WFM) were solid during the month, while department store sales (KSS, DDS, JCP, M, JWN) came in a touch light. Comment! [Consumer, U.S. Economy]
Wednesday, June 12, 9:02 AM Shares of J.C. Penney (JCP) are off 2.3% premarket after a SEC filing indicates the retailer's capex spending in 2013 will be higher than originally forecast. (10-Q) 1 Comment [Consumer, On the Move]
Friday, June 7, 9:55 AM J.C. Penney (JCP +0.7%) needs home goods sales to be strong if it has any chance of turning its fortunes around. Close to half of the retailer's stores have a new home shops concept with fresh designs. Retail analysts have been impressed with the integration - but some early reads on store traffic in the section have been spotty. Comment! [Consumer]
Tuesday, June 4, 3:08 PM Investors may spot something strange at J.C. Penney (JCP +1.5%) during Q3: comps growth. According to JPMorgan analyst Matthew Boss, the beleaguered retailer's home goods revamp has "meaningfully improved traffic levels" and inventory is "normalizing" going into the back-to-school shopping season. 5 Comments [Consumer]
Tuesday, June 4, 9:03 AM More on ICSC Retail Store Sales: The retail reading from Memorial Day week was solid as some pent-up demand was released. Department stores (M, JWN, KSS, JCP, SKS, DDS, SHLD, BONT, TJX) showed strength - while furniture sales (RH, HOFT, FBN, HVT, PIR, ETH, BSET) didn't quite keep up. Comment! [Consumer]
Friday, May 31, 8:45 AM A below par reading on personal spending for April was affected by lower gas prices and home heating bills and isn't a biting indictment on retail spending (AEO, ANF, ARO, BBBY, BBY, BJ, CHS, COH, COST, DG, DLTR, GPS, HD, JCP, JWN, KSS, LOW, LTD, M, NDN, NKE, ODP, PIR, PLCE, RSH, SKS, SPLS, TGT, TJX, URBN, WMT, WSM, ZLC), according to economists. Auto sales also cooled off just a bit in April which had an impact. So far, retail trends have been largely favorable in May as the height of the spring selling season shifted a few weeks later. 4 Comments [Consumer]
Thursday, May 30, 8:25 AM The phrase "there is no such thing as bad publicity" might not apply to a retailer that accidentally creates a teakettle with a striking resemblance to Adolph Hitler. That's the misfortune J.C. Penney (JCP) had to deal with this week as social media lit up over its $40 Michael Graves Design Bells and Whistles Stainless Steel Tea Kettle which was pulled from its website and from a billboard in California due to the unfortunate development. 5 Comments [Consumer]
Wednesday, May 29, 8:04 AM This week's ICSC-Goldman report on store sales highlighted strength at department stores (M, JWN, KSS, JCP, SKS, DDS, SHLD, BONT, TJX) during the Memorial Day weekend. It's a positive sign for the sector after the weather was widely blamed for the sluggish start to the spring selling season. Comment! [Consumer]
Friday, May 24, 9:37 AM Polar Capital's Brad Ginesin indicates the read-through for J.C. Penney (JCP -0.7%) from Sears Holdings' (SHLD -17.4%) shoddy quarter isn't too pretty. The hedge fund manager's laundry list of JCP/SHLD headaches: "...no consumer traction, drifting strategy, murky profit outlook, victim to strong competition." 1 Comment [Consumer, On the Move]
Tuesday, May 21, 2:19 PM J.C. Penney (JCP +2%) is reported to have reduced the rate on its $2.25B term loan to Libor + 500-525 bps from Libor +575 bps. The retailer is using the funds from the loan for working capital. Comment!
Monday, May 20, 7:59 AM J.C. Penney (JCP) receives a stinging price target cut from BMO Capital to $7 on the firm's take that it would take a miraculous "massive increase" in sales to return the retailer to profitability. A more likely scenario could be tangible equity turning negative in FY15, warns the firm. JCP -0.2% premarket. 5 Comments [Consumer]
Friday, May 17, 6:54 AM Retail watch: Chipotle (CMG), J.C. Penney (JCP), and Macy's (M) all hold their annual shareholder meeting today with each company expected to outline channels to find new growth. The trio could also use their meeting to back earnings guidance or tip off current sales trends. Comment! [Consumer]
Thursday, May 16, 7:54 PM Some notes from the J.C. Penney (JCP) Q1 earnings call: CEO Mike Ullman has identified 30 to 40 areas to improve, adding that he doesn't see any structural issues that would prevent a turnaround and thinks margin will return to 2011 levels. He notes that 2013 CAPEX spending is nearing completion, and he plans to bring back 3 or 4 private label brands. Read more on JCP's earnings call here: Earnings Call Transcript. Shares -1.7% AH. 3 Comments [Consumer, Earnings, On the Move]
Thursday, May 16, 4:48 PM More on J.C. Penney (JCP) Q1 earnings: Cash burned through from operations is $752M vs. $577M a year ago. Cash used for capex of $214M vs. $107M a year ago. Totalled together, the company went through nearly $1B in cash in Q4 vs. $684M a year ago. New CEO Mike Ullman: "We are looking forward, not back." Indeed. Shares are all over the place AH, currently flat. CC at 5 ET. (PR) Comment! [Earnings, Financials, On the Move]
Thursday, May 16, 4:36 PM J. C. Penney (JCP): Q1 EPS of -$1.31 misses by $0.35. Revenue of $2.64B misses by $0.08B. Shares +1.4% AH. (PR) 4 Comments [Earnings, Breaking News, On the Move]
Thursday, May 16, 12:10 AM Notable earnings after Thursday’s close: ADSK, AMAT, ARUN, BRCD, DELL, JCP, JWN, SINA, VNET Comment! [Earnings]

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