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  • J.C. Penney (JCP) has reportedly engaged Goldman Sachs and JPMorgan to explore a deal to raise at least $1B by pledging land assets as collateral. Maybe more likely is a $500M loan secured by the company's inventory - this one supposedly led by Wells Fargo. "It would seem to me that at all costs they will postpone putting any kind of lien on their real estate," says a corporate restructuring attorney. [View news story]
    Well said PAULHG1! I would challenge everyone who posted a negative comment in the past year to show their support for "The Newer JCPENNEY" to visit their local store at least once this month and make a purchase to show their support. Again well said!
    Apr 19, 2013. 04:22 PM | 1 Like Like |Link to Comment
  • J.C. Penney (JCP) now up 6.8% AH as CNBC reports Ron Johnson is out as CEO[View news story]
    Apr 8, 2013. 05:14 PM | Likes Like |Link to Comment
  • J.C. Penney (JCP) CEO Ron Johnson's pay fell sharply last year as the company struggled to get its footing. The absence of stock awards meant Johnson made only $1.9M in 2012, a far cry from the $53.3M in total compensation he received a year earlier.  [View news story]
    SERIOUSLY...ONLY $55M IN TWO YEARS? And he only made $2M of that last year...I think he needs more time to turn it around!
    Apr 2, 2013. 08:23 PM | Likes Like |Link to Comment
  • Too Late To Sell? Look Who's Trying To Dump J.C. Penney [View article]
    The best news recently is the savings and profit sharing plan is dumping shares.
    Mar 6, 2013. 07:14 AM | 2 Likes Like |Link to Comment
  • Retail winners today include Ascena Retail Group (ASNA) and American Apparel (APP), both up double-digits after reporting solid earnings. Both companies blasted past the estimates of analysts as sales were boosted by a strong online business. It continues a trend of smaller retail chains chipping away at department stores online, highlighted dramatically by J.C. Penney's (JCP) online meltdown (-34.4% Q4, -37% Q3) and to a much lesser extent by growth rates at Dillard's (DDS), Kohl's (KSS), Sears (SHLD), Saks (SKS), and Nordstrom (JWN). [View news story]
    With the lack of public action by the board over the recent tenure of its CEO and others, one would be lead to assume they were also inactive or at least ineffective in providing guidance for years past. Many board members have been "bored" members far too long and must be held accountable as well.
    Mar 6, 2013. 06:59 AM | 1 Like Like |Link to Comment
  • More on J.C. Penney's (JCP) Q4: No sign of relief for investors just yet as the firm reports comparable store sales fell 31.7%, below the consensus call of -26.9%. Customer are fleeing, but no give up from CEO Ron Johnson: "...we are energized by our shop roll out plans." Gross margin was crushed, falling to 23.8% of sales vs. 30.2% last year. Internet sales slumped again, losing 34.4% Y/Y just marginally better than last quarter's 37% nosedive. Cash position $930M at end of Q4. No guidance is issued, but the retailer says it will open 20 shops geared toward home products in 505 stores with brand partners. JCP -4.4% AH. (PR[View news story]
    Never though I'd be ashamed to admit I worked for JCP for most of my life!
    Feb 27, 2013. 07:46 PM | Likes Like |Link to Comment
  • After-hours top gainers, as of 5:15 p.m.: BWC +9%. ARAY +4%. IDIX +4%. CLDX +3%. UAN +3%.
    After-hours top losers: GRPN -25%. BSFT -23%. ANW -14%. VCRA -12%. JCP -9%[View news story]
    I never thought I'd be ashamed to admit I worked at JCP! YIKES!
    Feb 27, 2013. 07:36 PM | 1 Like Like |Link to Comment
  • Credit Suisse thinks 2013 could be the year retailers rationalize their store base and place a sharper focus on data and online channels over store transformation (think JCP). The firm likes Ross Stores (ROST -0.5%) and TJX Companies (TJX +0.2%) to keep up their winning ways and moves to a positive stance on Dillard's (DDS -0.3%). [View news story]
    Bring back the auto centers and candy departments ! That'll save 'em.
    Jan 25, 2013. 10:51 PM | Likes Like |Link to Comment
  • Just before Bill Ackman engaged with Carl Icahn in the financial media equivalent of the Thrilla in Manilla, the investor had something to say about J.C. Penney (JCP -0.2%). Ackman expressed confidence in the leadership of CEO Ron Johnson, but gave up a little ground by conceding if the exec doesn't turn things around in another two years then he's probably the "wrong guy" for the top job at the retailer. [View news story]
    Bring back the auto centers !
    Jan 25, 2013. 10:49 PM | Likes Like |Link to Comment
  • UBS downgrades J.C. Penney (JCP) to a Sell rating from Neutral. The note from the investment firm doesn't paint a pretty picture on the retailer, calling out "deteriorating earnings outlook & emerging signs of cash flow distress." JCP -4.2% premarket to $18.35. [View news story]
    What would be "the emerging SIGNS of cash flow distress?" Last I heard JCP had plenty of cash.
    Jan 11, 2013. 04:23 PM | Likes Like |Link to Comment
  • J.C. Penney (JCP +4.1%) is continuing its December rally on a day when many other retailers are slumping thanks to negative sales data. With 42.6% of the float shorted as of Nov. 30, there's a good chance some shorts are opting to take profits before year's end. Oppenheimer issued bullish comments on JCP on Monday. [View news story]
    My wife and I (combined) worked for JCP for 33 years and NO we didn't shop at JCP this last half of the year. Sorry but it just isn't happening there.
    Dec 26, 2012. 02:46 PM | 1 Like Like |Link to Comment
  • Internal morale is an issue at J.C. Penney (JCP -2.7%) and could lead to more defections, according to insiders. It's not a threat the company has been trying to hide, notes Business Insider. In a SEC filing from early this year, the retailer admits a prolonged inability to provide raises and bonuses during the JCP transformation could have a negative impact on the ability to attract and retain top talent. [View news story]
    What is the duration of the CEO's contract? (Holding my $'s until a change happens).
    Dec 5, 2012. 06:25 PM | Likes Like |Link to Comment
  • J.C. Penney (JCP -1.9%) cites new risk factors in an updated SEC filing (10-Q) beyond just its ability to hold on to key talent. Sharp analysis of the filing reveals the retailer added the words "access to our credit facility" to a previously-issued paragraph on its cash flow outlook. [View news story]
    New wording telegraphs nothing but more trouble.
    Dec 5, 2012. 06:19 PM | 1 Like Like |Link to Comment
  • Though J.C. Penney's (JCP -3.6%) new boutiques pull up the profitability of stores, will it be fast enough to make up for the bleeding of long-time customers from the other portions of stores. The new plan is to spruce up and streamline those sections, as well as add more mannequins to showcase fresh lines. The numbers game: JCP makes less than half of what Gap churns up per square foot. [View news story]
    Replace the proposed mannequins with selling associates NOW! I Spent considerable time in a Sears hardware dept yesterday (Sunday). Even this department was staffed with 9 selling associates and all with iPods to provide requested data (prices, % off, in-stock on items, completing sale, etc). NOTE: Sears was very busy.

    Then went to JCP store, same mall-had three central cash wraps in entire store, each with three associates. Customers were left to their own initiative to find prices, % off if any, in-stock on additional colors, sizes. NOTE: JCP was no where near as busy as Sears.

    I nearly cried...have retirement coming from JCP...I hope!
    Dec 3, 2012. 04:50 PM | 1 Like Like |Link to Comment
  • A growing number of retailers look to use food and drinks to entice shoppers into their stores. Naturally, J.C. Penney (JCP +3.7%) is front of the trend with plans to add juice bars and mini-coffee shops, but Urban Outfitters (URBN +1.2%) and Gap (GPS +0.3%) are also buying into the trend. Though upscale restaurants in department stores are a long-time tradition, industry insiders acknowledge the margin for error is razor-thin on execution. [View news story]
    It's coming around again...restaurants in JCP...soon auto service centers will be the new greatest innovation too...hey, lets pump gas...seems to be profit there too!
    Nov 28, 2012. 07:31 PM | Likes Like |Link to Comment