J.C. Penney (JCP) Sourcing Head Ken Mangon Resigns - Report
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Retailers Square Off as Black Friday Kicks Competition into High Gear
November 23, 2012 8:33 AM ESTWith stomach bulging and with fingers still slick with traces of butter and turkey residue, eager shoppers, clinging to coupons and advertising inserts, exited their vehicles and haphazardly gathered in a makeshift line. In the dark, and despite cold and risk of serious bodily injury, consumers watched the doors swing open at a Wal-Mart (NYSE: WMT) in southern Michigan, and everyone was thinking the same... Game... More
Retailers Higher as Black Friday Online Sales Expected to Be Strong (M) (WMT) (AMZN)
November 23, 2012 8:04 AM ESTRetailers are on the up-and-up as Black Friday sales kick off today.
Expectations are for a stronger crowd than last year, with more spending to boot. Wednesday, data tracker comScore (Nasdaq: SCOR) highlighted how... More
Bill Ackman Finds a Friend on J. C. Penney (JCP)
November 21, 2012 12:15 PM ESTIn what promised to be one of the biggest turnarounds in corporate history with the hiring of Ron Johnson as CEO of J. C. Penney (NYSE: JCP), has turned into an unmitigated disaster: Comps down an unthinkable 26% in Q3 and expected to be down ~21% in Q4, net loss of $0.93/sh. in Q3 and EPS expected to be down over 50% in Q4, cash position down to ~$520M from ~$1.5B, credit downgrades and spiking debt yields. However, through it all hedge fund manger... More
