J.C. Penney (JCP) Shares Continue Momentum; Barclays Analyst Comments on Recent Revamp

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JCP Hot Sheet

Rating Summary:
4 Buy, 9 Hold, 2 Sell

Rating Trend: Down

Down

Today's Overall Ratings:
Up: 20 | Down: 11 | New: 38

Shares of J.C. Penney (NYSE: JCP) fell almost $1 this morning, but have since rebounded and are now trading is positive territory ($41.40 up $0.08 (+0.19%)). JCP has been in the news lately regarding a revamping of stores and selling model. The stock has climbed over 30% since mid-Nov. 2011 (from $31 to $41).

The new store model changes were initiated and (now) implemented by new CEO, Mr. Ronald B. Johnson, formally of Apple (Nasdaq: AAPL).

Barclays retail analyst, Robert S. Drbul, attended the 2-day meeting which discussed the new changes JCPenney is going through.

Drbul said, "...overall, we were impressed and intrigued with the ideas and vision presented...but also recognize the significant undertaking at hand, both in time, capital and execution. Beginning today...there will be 3 types of prices: everyday, month long value, and best Friday's to provide the customer with clarity and to restore integrity in the merchandise. We are mindful of the process and uncertainty of re-educating the consumer, as well as the duration of the transition with this new strategy."

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