J. C. Penney's (JCP) Joe Fresh Has 'Solid' Launch - Analyst
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Price: $0.18 --0%
Rating Summary:
1 Buy, 21 Hold, 11 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 19 | Down: 16 | New: 9
Rating Summary:
1 Buy, 21 Hold, 11 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 19 | Down: 16 | New: 9
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On Friday, J. C. Penney (NYSE: JCP) launched its Joe Fresh brand at 681 locations and according to analyst checks the launch was solid, although maybe not game-changing.
Deutsche Bank's Paul Trussell said the Joe Fresh launch "was "solid" overall with more fanfare in the NY and CA markets than middle America." He continued, "While no items sold out (given large initial inventory position), sales picked up as the weekend progressed, especially of tops, driven by the home receipt of Joe Fresh specific mailers and aggressive advertising of a $10 off (on any $50 purchase) coupon offer." Trussell said the company's return to coupons is getting a positive customer response and the company is recognizing a "call to action" promotion is the ticket to draw traffic.
The analyst maintained a Hold rating and price target of $17.00 on the stock.
For an analyst ratings summary and ratings history on J. C. Penney click here. For more ratings news on J. C. Penney click here.
Shares of J. C. Penney closed at $16.44 yesterday.
Deutsche Bank's Paul Trussell said the Joe Fresh launch "was "solid" overall with more fanfare in the NY and CA markets than middle America." He continued, "While no items sold out (given large initial inventory position), sales picked up as the weekend progressed, especially of tops, driven by the home receipt of Joe Fresh specific mailers and aggressive advertising of a $10 off (on any $50 purchase) coupon offer." Trussell said the company's return to coupons is getting a positive customer response and the company is recognizing a "call to action" promotion is the ticket to draw traffic.
The analyst maintained a Hold rating and price target of $17.00 on the stock.
For an analyst ratings summary and ratings history on J. C. Penney click here. For more ratings news on J. C. Penney click here.
Shares of J. C. Penney closed at $16.44 yesterday.
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