J. C. Penney (JCP) Price Target Lowered to $6 at Goldman
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Maxim Group Keeps JCPenney (JCP) at 'Hold'; Little N-T Effect from Cost Cuts Expected
January 16, 2014 12:15 PM ESTMaxim Group retains its Hold rating on JCPenney (NYSE: JCP) following Wednesday's operations update.
Analyst Rick Snyder was positive on the $65 million in expected savings from 33 store closings, but noted that it would be more challenging for JCPenney to lever fixed costs.... More
CBL & Associates (CBL) Sees JCPenney (JCP) Closures as 'Immaterial'
January 15, 2014 4:39 PM ESTCBL & Associates Properties, Inc. (NYSE: CBL) announced future redevelopment/replacement plans for JCPenney (NYSE: JCP) anchor locations in the CBL portfolio that are expected to close in 2014.
One of our most attractive investments coming out of the recession has been to improve the performance of our properties through redeveloping underperforming anchor locations. The opportunities created by the four JCPenney closures announced today fit perfectly with that objective, said Stephen Lebovitz, president & CEO. While we have been encouraged by JCPenneys recent improvements in sales and traffic, we... More
J.C. Penney (JCP) to Cut 2000 Jobs, Close 33 Stores
January 15, 2014 4:07 PM ESTJ.C. Penney (NYSE: JCP) announced that as part of its turnaround efforts, the Company will be closing 33 underperforming stores across the country in order to focus its resources on the Company`s highest potential growth opportunities.
These actions are expected to result in an annual cost savings of approximately $65... More
J.C. Penney (JCP) to Bring Back Sales Commissions to Drive Growth
January 15, 2014 1:02 PM ESTJ.C. Penney Co., Inc. (NYSE: JCP) is reviving sales commissions to drive sales growth, according to reports from Bloomberg.... More
