Tue, Apr. 14, 9:15 AM
- J.C. Penney (NYSE:JCP) discloses that a senior executive gave non-public information to an investment firm on sales results.
- As a result, the retailer has announced that FQ1 comparable-store sales are up 6% QTD and is expecting to end the quarter in a +3.5% to +4.5% comp range after the earlier Easter this year is factored in.
- SEC Form 8-K
- JCP -1.17% premarket to $9.27.
Thu, Apr. 2, 4:10 PM
- J.C. Penney (NYSE:JCP) ended a week of momentum with a 2.6% gain on above-average volume.
- JCP was up close to 19% for the week.
- Some traders are attributing the move to a backing away by shorts, while others see confidence rising on J.C. Penney hitting some key numbers for Q1.
- A focus by the company on higher-margin products is expected to pay off.
- Previously: J.C. Penney rallies again after Wall Street firms chime in (April 1)
Wed, Apr. 1, 1:48 PM
- J.C. Penney (JCP +5.4%) continues to trade higher after the company was tipped earlier in the week by JPMorgan and Piper Jaffray for a decent Q1.
- An announcement of a REIT plan by Sears is also in the background.
- The company's annual meeting is scheduled for May 15 before Q1 results are expected to be posted.
- JCP hasn't cracked the $10 level since last October.
- Previously: Piper Jaffray sees a big run for J.C. Penney
Tue, Mar. 31, 8:04 AM
- Shares of J.C. Penney (NYSE:JCP) perk up in early trading after Piper Jaffray lifts estimates based on channel checks.
- The new price target of $14 represents considerable upside potential for the department store stock.
- Analyst Neely Tammings has JCP rated at Overweight.
- JCP +1.66% to $7.96.
Fri, Mar. 20, 10:14 AM
- J.C. Penney (JCP +0.4%) files notice on the departure of the company's general counsel.
- The retailer didn't disclose any reason for the resignation.
- Retail watchers note that the recent management changes at JCP may be more of a sign of a new CEO taking over than an indication of underlying issues.
- Marvin Ellison takes over from Mike Ullman on August 1.
- SEC Form 8-K
Tue, Mar. 17, 9:53 AM
- J.C. Penney (JCP +0.6%) Chief Marketing Officer Debra Berman has left the company after only a short stint at the top marketing position.
- RetailDive warns the development indicates the department store chain's quest to put the chaos at its marketing department behind it might not be over quite yet.
- Shares of JCP have made a slow climb higher this week and are threatening to retake the $8 mark.
Mon, Mar. 9, 7:54 AM
- Piper Jaffray cuts EPS estimates on J.C. Penney (NYSE:JCP) as part of a reset on expectations.
- The investment firm keeps an Overweight rating as it sees a recovery of shares from current levels (JCP -10% over last 5 sessions).
- The department store is likely to have seen a weather-influenced traffic drop in February, consistent with other mall-based retailers.
- JCP -0.65% premarket to $7.60.
Fri, Mar. 6, 8:03 AM
- A light bulb has gone off with some large retail chains such as Wal-Mart (NYSE:WMT) and TJX Companies (NYSE:TJX) which have hiked low-level wages in order to improve employee retention rates.
- The math as compiled by Bloomberg is pretty compelling: The average retail sales worker makes $21,140 a year, while it costs $3,400 in training costs to replace them. At a high turnover rate it becomes more economical to lift wages.
- The development is interesting to economists pondering the future impact of Wal-Mart's (10% of all retail sales in the U.S.) new wage structure on U.S. unemployment rates.
- Related stocks: YUM, MCD, KR, TGT, SHLD, HD, WBA, LOW, GPS, JCP, BLMN.
Mon, Mar. 2, 10:02 AM
- J.C. Penney (JCP -3.1%) slides again after Sterne Agee trims EPS estimates on the company as it reiterated a Neutral rating at current levels.
- Last week, weak margin and csh flow guidance from J.C. Penney seemed to outweigh the report on positive comps.
- Previously: J.C. Penney -14.5% on earnings sell-off (Feb. 27 2015)
Fri, Feb. 27, 9:15 AM
- Gainers: XIN +20%. CYCC +17%. SREV +16%. BLOX +16%. CYTX +13%. CLNE +12%. MNST +10%. ATOS +10%. SD +9%. SPLK +7%. MEET +6%. ARUN +6%. VIMC +6%. HZNP +6%.
- Losers: CVSL -42%. RESN -28%. MOSY -21%. WTW -18%. TUBE -17%. TBIO -14%. JCP -13%. DRL -13%. GENE -11%. OCN -8%. PBPB -8%. NBG -8%. NVAX -7%. FRO -5%.
Fri, Feb. 27, 9:03 AM
- Nomura isn't shaking off its negative outlook on J.C. Penney (NYSE:JCP), despite the department store operator's improved Q4 results.
- The investment firm is set with a Reduce rating and $8 price target.
- Piper Jaffray is a buyer on the JCP dip, saying the company showed traffic and transaction momentum during the quarter which sets it up for a further recovery in 2015.
- As analyst Rahul Sharma notes, many sell-side analysts have been hesitant to give JCP credit for its improved results, although returning margin rates to the level of peers is still a work in progress.
- Previously: J.C. Penney gives back gains after reporting Q4 earnings (Feb. 26 2015)
- Previously: J.C. Penney misses by $0.11, beats on revenue (Feb. 26 2015)
- JCP -14.47% premarket to $7.80.
Thu, Feb. 26, 4:56 PM
Thu, Feb. 26, 4:25 PM
- J.C. Penney (NYSE:JCP) reports same-store sales rose 4.4% in Q4.
- The company's gross margin rate was +540 bps Y/Y and -280 bps Q/Q to 33.8%.
- SG&A expenses increased 0.3% to $1.032B during the quarter.
- Merchandise inventory -9.6% to $2.652B.
- Categories of product strength included men's apparel and home/fine jewelry.
- Online sales +12.5% to $428M (JCP didn't break this out previously).
- Liquidity at the end of the quarter was $2.1B.
- Guidance: J.C. Penney expects 2015 comps to rise 3% to 5% and gross margin to increase 50 bps to 100 bps off the sales leverage.
- JCP -7.9% AH after gaining 13.3% over the last 5 trading sessions.
Thu, Feb. 26, 2:13 PM
- An appeals judge in New York has revived two claims of Macy's (M -0.4%) against J.C. Penney (JCP +1.4%) over an exclusive contract involving Martha Stewart products.
- The two department store chains have been tangling in court over the issue for a few years.
- The judge decided a third claim by Macy's doesn't warrant punitive damages.
Wed, Feb. 25, 5:35 PM
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Tue, Feb. 24, 3:49 PM
- J.C. Penney ((NYSE:JCP) +5.3%) rallies after being maintained as a Top Pick at Piper Jaffray.
- The investment firm thinks February JCP comps are tracking at 4% or better as the company slowly recoup some of the lost billions of dollars from the pre-Ron Johnson days.
- Piper's price target of $12 on JCP shows plenty of upside and is above the 52-week high of $11.30.
JCP vs. ETF Alternatives
JC Penney Co Inc sells merchandise and services to consumers through department stores and website at jcpenney.com. Its products include family apparel and footwear, accessories, fine and fashion jewelry, beauty products and home furnishings.
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