J. C. Penney (JCP) Shares Recover on Conf Call Comments

August 10, 2012 8:17 AM EDT
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Shares of J. C. Penney Company, Inc. (NYSE: JCP) are bouncing off pre-open lows with investors focusing on comments from the conference call:

  • Convinced transformation is on track
  • Marketing overreached, didn't do enough print
  • Went 'dark' on marketing until it got it right
  • Halted July catalogs to rethink marketing
  • Month-long value sale was 'wrong'
  • Merchandise now just regular or clearance
  • Investing heavily to drive traffic
  • 'Encouraged' after marketing chances
  • 'Encouraged' by start of back-to-school shooping
  • August traffic down 7%, sales 2% better than spring
  • Levi business up 25% in shop-in-shop
  • May continue to pull guidance

Shares of JCP are down just 1 percent, after trading down 10 percent earlier.

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