Noted Fund Eyes JCPenney (JCP) Turnaround; Takes Unsecured Debt Stake
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J. C. Penney (JCP) Q3 GPM Estimate Revised Lower at Deutsche Bank
November 8, 2013 11:07 AM ESTDeutsche Bank maintained a Hold rating on J. C. Penney (NYSE: JCP) with a price target of $6.00. Analyst analyst Paul Trussell adjusted his Q3 GPM estimate. The change follow reports of improved comps in October.
"Our thought is that the clearance activity was... More
J. C. Penney (JCP) Turnaround Progressing as Expected, Says Goldman Sachs
November 7, 2013 12:57 PM ESTJ. C. Penney (NYSE: JCP) shares were lifted on Thursday after the company provided an update on the progress of its turnaround, with October comps up 0.9%. In the view of analyst Stephen Grambling of Goldman Sachs, the company's turnaround is progressing in line with expectations.
"JCP's update was... More
JCPenney (JCP) October Comps Up 0.9%; First Gain Since Dec. 2011
November 7, 2013 8:02 AM ESTJCPenney (NYSE: JCP) reported that it continues to make meaningful progress in its turnaround and provided an update on the Company's performance. Preliminary highlights include:
* Same store sales increased 0.9% in October, marking a 490 basis point increase over September
* Sales on jcp.com increased 37.6% versus last year, a continuation and acceleration of the positive trend in the Company's online business
* Conversion continues to improve in October compared to last year, reflecting favorable customer response to promotional events and improved inventory levels
"JCPenney has made significant... More
