|5/3/13||(JCP) J. C. Penney Taps Revolver (Stock Blog Hub)|
In an effort to stabilize its financials, replenish inventory and fund the overhauling costs related to its new home departments across 500 stores, J. C. Penney Company Inc. (JCP) drew $850 million from its $1.85 billion revolving credit facility. This comes within a week of Ron Johnson’s removal from the position of the CEO, as his [...]
|4/18/13||(JCP) J. C. Penney Company Ousts Johnson and Reinstates Ullman (Stock Blog Hub)|
In a major development, J. C. Penney Company Inc.’s (JCP) board of directors discharged CEO Ron Johnson of his duties, as his ambitious transformational ideas failed to materialize. The company’s former CEO, Myron E. (Mike) Ullman, III has been reinstated to the helm, with immediate effect. What Triggered the Decision? Ron Johnson, who was appointed as the [...]
|4/9/13||Analysts Hate J.C. Penney: It Is A Buy! (The Market Financial)|
J.C. Penney Company, Inc. (NYSE:JCP) is getting smoked today. The stock is trading at $14.21, -1.66 (-10.46%) after hitting a new 52 week low at $13.90 earlier. This massive decline is coming on the back of the company getting rid of CEO Ron Johnson. While this was initially cheered, the replacement caused fresh horror. The new CEO [...]
|3/1/13||The Death of Retail, Continued (Gold Stocks Today)|
The slow, painful death of traditional retailers is on full display this week. Shares of J.C. Penney plummeted 17% yesterday after the company reported a fourth-quarter net loss of more than $550 million. Despite some fairly drastic attempts at a turnaround, J.C. Penney looks like it’s headed in the direction of fellow old-school retailer Sears. To some degree, big retailers have always been high-end flea markets. Different brands display their wares using sub-let space. But [...] The Death...
|1/30/13||It’s Time To Sell This "Old-School" Retailer (Jutia Group)|
The only constant in life is change. This fact is doubly true when it comes to the fickle world of fashion and retail. Fads will come and go as stores open and close. Consumers are always looking for the next hot item. It's a constant struggle for fashion retailers to stay one step ahead of the curve [...]
|12/16/12||(JCP) J.C. Penney – Bear of the Day (Stock Blog Hub)|
J. C. Penney (JCP) posted a third-quarter 2012 loss of $0.93 per share that fared worse than the earnings of $0.18 in the year-ago quarter and the Zacks Consensus Estimate of loss of $0.08. The company has missed the Zacks Consensus Estimate in the last four quarters by an average of 328.2%. Total revenue also [...]
|11/14/12||Bill Ackman Not Throwing In The Towel On J.C. Penney (JCP) (market folly)|
After sales plunged at J.C. Penney, Bill Ackman of Pershing Square Capital appeared on CNBC to talk about his investment. He has stressed in the past that he's in this investment for many years as the company is a turnaround story. Ackman originally purchased his stake around $25 and the stock now trades around $18 so he has a paper loss. He argues that J.C. Penney is now "two companies" with the new startup concept: jcp (the stores within a store concept) and then the old J.C....
|11/9/12||PREMIUM: Recommending Closing Position ASAP (ValueWalk.com)|
On October 31st, we recommended buying calls and puts on a company (listed for premium members), which we view as a potential value trap. We hope some subscribers listened because the gain would be over 100% within just a few days. We are about to post some more recommendations, but we think closing this position [...]
|11/9/12||J.C. Penney Investors Disappointed by Earnings, as Shares Drop (ValueWalk.com)|
Third quarter earnings for J.C. Penney Company, Inc. (NYSE:JCP) don’t look good, although there is a bit of a silver lining to the dark cloud. This morning, the retailer reports a 26.1 percent decrease in sales at stores open a year or more during the third quarter. That decrease was much worse than Wall Street [...]
|9/20/12||J.C. Penney’s reality check (Penny Stock DD)|
Maybe Ron Johnson should have stayed at Apple (AAPL). The J.C. Penney (JCP) CEO continues to struggle to get the retailer on the right track. Johnson, who helped launch hundreds of retail stores for Apple, succeeded Mike Ullman as CEO of J.C. Penney last year. And investors had high hopes that he'd be able [...]
|9/19/12||J.C. Penny is No Longer for Old Ladies Says CEO Ron Johnson (Value Investing)|
J.C. Penney Company, Inc. (NYSE:JCP) hosted an event today for analysts to show some of the changes which have taken place, since Ron Johnson became the new CEO. Bill Ackman handpicked Ron Johnson to run J.C. Penney Company, Inc. (NYSE:JCP), after becoming the company's largest shareholder. Johnson had previously been in charge of Apple's retail stores. Johnson [...]
|9/10/12||J.C. Penney to Offer Free Kids Haircuts, Bill Ackman’s Master Plan? (Value Investing)|
In an unusual move to grab some business from its competitors and add sales, J.C. Penney Company, Inc. (NYSE:JCP) announced on Monday that will start offering free children's haircuts. Through a customer email, CEO Ron Johnson said that beginning in November, kids in kindergarten up to sixth grade can get the free haircuts on Sundays at J.C. [...]
|8/22/12||Zacks Sell List Highlights: J.C. Penney, PriceSmart, Avon Products and Monro Muffler Brake (Penny Stock DD)|
Chicago, IL – August 22, 2012 – Zacks.com releases details on a group of stocks that are currently members of the exclusive Zacks #5 Rank List – Stocks to Sell Now. These stocks are currently rated as a Zacks Rank #5 (Strong Sell): J.C. Penney Company, Inc. (JCP) and PriceSmart, Inc. [...]
|8/14/12||(JCP) Company News for August 13, 2012 – Corporate Summary (Stock Blog Hub)|
• J.C. Penney Company, Inc. (NYSE:JCP) posted a second quarter loss per share of $0.37, surpassing the Zacks Consensus Estimate of a loss of $0.24 by 13 cents • Brookfield Asset Management Inc. (NYSE:BAM) reported second quarter earnings per share of $0.17, missing the Zacks Consensus Estimate of $0.40 • Penn West Petroleum Ltd (NYSE:PWE) posted second [...]
|8/13/12||Marathon’s Short Take On Bill Ackman’s JC Penney Turnaround Plan (Value Investing)|
After speculation that bears had their way with J.C. Penney Company, Inc. (NYSE:JCP)'s stock, comes news that the retailer’s debt also faced similar shorting by Marathon Asset Management, a major $10 billion global hedge fund investing in credit and fixed income markets across the globe, and founded by Bruce Richards (CEO) and Louis Hanover (CIO). According [...]
|8/10/12||JC Penney CEO Says “We Will Stay The Course”, after Disappointing Q (Value Investing)|
Ron Johnson, chief executive officer of J.C. Penney Company, Inc. (NYSE:JCP), guaranteed the company’s growth next year with its new business plan, despite the lower than expected quarterly sales. It has been six months since Johnson changed the company’s pricing strategy, but customers are not attracted. The company reported a 21.7 percent sales decline for the [...]
|7/25/12||Loblaw’s Joe Fresh hooks up with J.C. Penney (Penny Stock DD)|
Grocer Loblaw Cos. Ltd. is making a big retail bet in the United States with its Joe Fresh fashion line, amid slowing spring sales of its cheap-chic offerings in a sluggish Canadian apparel market. On Wednesday, Loblaw said it will roll out almost 700 Joe Fresh shops next spring within troubled U.S. department-store retailer J.C. Penney, [...]
|7/12/12||JC Penney Continues to Struggle (ValueWalk.com)|
J.C. Penney Company, Inc. (NYSE:JCP) may continue to see its struggles linger as analyst Michael Exstein of Credit Suisse Group AG (ADR) (NYSE:CS) cut his second quarter and full year forecasts. Exstein doubled his loss estimate for the second quarter from $0.19 to $0.38 a share. Additionally, full year estimates were cut to $1.07 a [...]
|7/10/12||J.C. Penney to Axe Another 350 Jobs, Stock Drops 6% (ValueWalk.com)|
Today, J.C. Penney Company, Inc. (NYSE:JCP) revealed that it would lay off 350 employees from its corporate headquarters in Plano, Texas as part of its restructuring and cost cutting measures to boost profitability and its ability to compete with business rivals. The company previously announced plans to cut 900 jobs in Texas and Pittsburg and to reduce its expenses [...]
|6/19/12||Stock Market Today: Who's Up, Who's Down (Money Morning)|
Many companies are making headlines in the stock market today as markets are up on hopes of more monetary easing from the U.S. Federal Reserve as it concludes its two-day policy meeting tomorrow. Investors might be having a delayed reaction to Sunday's Greek elections as yesterday's trading volume was much lower than average, and not much movement occurred. The markets are also responding well to the number of housing permits filed in May which was at its highest level since...
|6/12/12||Ackman’s Pershing Square Q1: CP, BKC, JUSH, JCP, C and GGP (Value Investing)|
Bill Ackman's Pershing Square is up 11.8% year to date as of March 31st. katya Wachtel of Reuters, and Amy Or of DowJones, reported a loss of 7% for the month of May. We have not received the stat sheet for May, but that would bite a chunk out of the returns for the year. The [...]
|6/12/12||Bill Ackman & Pershing Square's Q1 Letter: On Canadian Pacific, J.C. Penney & Citigroup (market folly)|
Bill Ackman's hedge fund firm Pershing Square is out with its first quarter letter to investors. The hedge fund is up 9.3% year-to-date and updates investors on its holdings in Canadian Pacific (CP), J.C. Penney (JCP), as well as Citigroup (C) and General Growth Properties (GGP). Pershing highlights that they've started buying a new stake and have added a rare equity short, but they've declined to disclose any names. In the letter, Ackman touched on the notion of time arbitrage, something...
|6/7/12||Ackman At JCPenney: A Performance Review (Value Investing)|
In early October of 2010 Bill Ackman decided to invest in JC Penney Company Inc. (NYSE:JCP). Since then the firm's stock has wallowed and today remains lower than the price Ackman bought in at. The firm is edging closer to its 52 week low of 23.44 closing today at 24.27. Despite this Ackman remains positive [...]
|6/4/12||J.C. Penney’s New ‘Controversial’ Ads are Great Publicity Stunt (Value Investing)|
Now, before we get into this more on J.C. Penney Company, Inc. (NYSE:JCP), here is where I am coming from so we can avoid the usual instant stereotyping of the author in any piece involving controversial topics. I am a Conservative Republican. I go to our town’s Catholic Church, I believe in God, am very happily [...]
|5/24/12||Stay Away from this Popular Retail Stock (Jutia Group)|
Ah yes... it's 13-F season, the time when investors' fancies turn to what the investment gurus are buying. Bill Ackman, the legendary value brain behind Pershing Square Capital Management, has been pretty busy these days. With a focused management style that typically involves accumulating large stakes in companies, Ackman has been able to implement changes within [...]
|5/23/12||J.C. Penney Company, Inc. (JCP) Whitney Tilson’s Long Presentation (Value Investing)|
Whitney Tilson on why he is long J.C. Penney Company, Inc. (NYSE:JCP) The stock of one of our largest positions, J.C. Penney, has fallen more than 20% since it announced ugly Q1 earnings: revenues down 20%, same store sales down 19%, severely negative free cash flow, and a suspension of the dividend. We expected a tough quarter, [...]
|5/22/12||Bill Ackman's Ira Sohn Slideshow Presentation on J.C. Penney (JCP) (market folly)|
Last week we posted up notes from the Ira Sohn Conference including a summary of the Pershing Square founder's talk on J.C. Penney. Now, courtesy of the WSJ Deal Journal, is Bill Ackman's slideshow presentation on JCP from the event. Entitled "Think Big", Ackman examines the future of the retailer under new CEO Ron Johnson. He notes that all the requirements for a turnaround are in place: - Solid core business with natural competitive advantages - New, high-quality management team -...
|5/22/12||Bill Ackman J.C. Penney Company, Inc. (JCP) Full Presentation (Value Investing)|
Bill Ackman, CEO of Pershing Square Capital, pitched J.C. Penney Company, Inc. (NYSE:JCP) as one of his favorite investments, at the Ira Sohn Conference last week. Ackman has been implementing many changes at the company as an 18% shareholder, and a member of the board. He is trying to create a mall within a mall. Ackman believes [...]
|5/16/12||Bill Ackman's Ira Sohn Presentation (market folly)|
We're posting up notes from the Ira Sohn Conference. Pershing Square's Bill Ackman gave a presentation on J.C. Penney (JCP). Best ideas are most contrarian. Like buying GGP, right before bankruptcy. Short AAA stocks is most contrarian. Shorted MBIA. Long JCP pitch again. Same JCP thesis, same story Ron Johnson said last night. Says comps worse than expected but still moving ahead with the turnaround. Says customer is beginning to understand the process. He focuses on the cost...
|5/16/12||Michael Price on JC Penney, Shantanu Agrawal on Xerox: Ira Sohn Presentations (market folly)|
We're posting up notes from the Ira Sohn Conference. Michael Price spoke briefly on J.C. Penney (JCP) saying that he just bought shares on the dip today. Look at the ownership, the board, the assets below it. "Look at the top lines, the revenues" (that was the problem). He also said it's too early to get into banks, and to wait it out. Price then introduced the Ira Sohn Contest Winner: Shantanu Agrawal who pitched long Xerox (XRX). The judges panel consisted of David Einhorn (who...
|5/16/12||Bill Ackman Likes JCP as Ultimate Contrarian Investment (Live Upates) (Value Investing)|
Bill Ackman is the CEO of Pershing Square Capital, a value oriented hedge fund with over $11 billion under management. The slide is titled Think Big. Best investment ideas are contrarian. The most contrarian investment is to buy a company right before bankruptcy like General Growth Properties Inc (NYSE:GGP). The most contrarian short investment is MBIA Inc. (NYSE:MBIA), buying [...]
|5/16/12||Michael Price Liks JCP, Contest Winner Xerox (Value Investing)|
Michael Price is now presenting the winner. Last contest winner Bridgepoint Education, the stock is flat. The stock seeks to be cheap. Price was bullish on Goldman Sachs Inc (NYSE:GS), but that might have changed. The big banks need to change themselves before the government does. Michael Price just bought some J.C. Penney Company, Inc. (NYSE:JCP) this [...]
|4/27/12||J.C. Penney Continues Poaching Apple’s Talent, Hires Benjamin Fay (Value Investing)|
J.C. Penney Company Inc. (NYSE: JCP) has added to its stable of former talent from Apple Inc. (NASDAQ:AAPL) by announcing the hire of Benjamin Fay, former Senior Director of Retail Real Estate and Development. Bill Ackman, CEO of Pershing Square, a value oriented hedge fund, owns 27% of JC Penny. Ackman has been pushing the [...]
|4/19/12||Pershing Square Disposes Of J.C. Penney Total Return Swap (market folly)|
Bill Ackman's Pershing Square Capital just filed a form 4 with the SEC regarding a total return swap on J.C. Penney (JCP). On April 13th, they disposed of a total return swap with a conversion/exercise price of $34.15 that represented 602,600 underlying shares. Due to the terms of the swap with the counterparty, Pershing netted the difference between the expiration price of $34.15 and the $29.29 reference price as established by the swap. Hedge funds often utilize total return swaps to...
|4/4/12||JC Penney Becoming More Like the Apple Store (ValueWalk.com)|
JC Penney is hopefully looking towards a brighter future. Bill Ackman, CEO of Pershing Square Capital Management, wants to model J.C. Penney Company, Inc. (NYSE:JCP) stores after Apple Inc. (NASDAQ:AAPL) stores. Ackman's hedge fund company owns about 26% of the company. Last fall, JC Penny hired the former senior vice president of Apple, Ron Johnson [...]
|4/4/12||JCPenny “Warns” A World War “Might Negatively Affect Sales” (ValueWalk.com)|
So, I saw this run recently about J.C. Penney Company, Inc. (NYSE:JCP) and was going to ignore it but it seems to keep popping up out there like it is “news” so I’ll address it. Here is the headline: J.C. Penney Warns Its New Pricing Plan May Not Work Oooooh….Sounds ominous right? Here is the rest of the article: J.C. Penney (JCP) warned [...]
|1/30/12||Today's Leading Industry (Samurai Trader)|
Here are the industries with 50% or more of their stocks advancing today. Here are the industries with 10% or more of their stocks making new highs. One of the more spectacular breakouts last week was JCP, whcih is one of 4 strong stocks in the 9 stock department stores group. While this is not yet a leading industry, and half of the stocks in the group look very weak, it is probably one to keep an eye on as a few look like they are ready to move up with the group. In particular, BONT...
|1/27/12||JCP: Welcome to The New Retail Paradigm (Mercenary Trader)|
Investors in JCPenny (JCP) were treated to a nice rally yesterday after the company announced a major strategic shift. The department store retailer is deviating from the long-time tradition of artificially high prices and continual "discounting" - opting instead to adopt an "everyday low price" structure. Yesterday's announcement included a plan to spend $800 million over [...]
|1/26/12||Bill Ackman on Growing J.C. Penney (ValueWalk.com)|
J.C. Penney plans to add jobs over the next five years, says William A. Ackman, Pershing Square Capital Management founder/CEO. See the video of Ron Johnson, CEO of JCP, who Ackman talks about at length in this interview, and the follow up video here. Video and transcript below: [...]
|1/26/12||JCP (Samurai Trader)|
JCP has what looks like a very impressive breakout, but in reality just barely beat out the old high going back to last May, making this a very long cup and hadle pattern. The O'Neil breakout point is the high of the handle, where the middle line is, making this, even though it is barely at a new high, extremely extended. I have this one the relative strength list but did not have it on my earnings schedule. I can't tell if it actually reported or of this is a preliminary report because there...
|1/25/12||JC Penney CEO on Company Transformation (ValueWalk.com)|
Insight on the lessons learned from his work at Apple are being applied to his new role at J.C. Penney, with Ron Johnson, J.C. Penney incoming CEO, who discusses the retailer's new look to revive its brand. Video and text below: Transcript: here first on the street, ron johnson the ceo of jc it's great to be here. walk me through [...]
|1/23/12||Is JC Penney Following its Cost Cutting Rivals? (Benzinga)|
Today, a NY Post report stated that JC Penney (NYSE: JCP) planned to lay off thousands of workers. The layoffs are targeted at workers who typically retag and re-price merchandise. The retailer hopes to develop a new "everyday low" price campaign, moving away from frequent price cuts and sales. CEO Ron Johnson emphasized that the layoffs primarily targeted seasonal workers, and not full-time regular employees. "As planned, we held over some seasonal holiday hires to help us with the...
|1/11/12||5 Stocks Seeing Big Analyst Upgrades (Investment Underground » Page not found)|
By Larry Gellar Today, we’ll be taking a look at the latest rating upgrades from Wall Street analysts. While Boeing (BA) and International Paper (IP) are receiving modest praise, JC Penney (JCP) and MetLife (MET) are putting together plans to fundamentally change their business. Meanwhile, Pandora (P) remains an interesting speculative play. Let’s see what’s been [...]
|1/5/12||The Old ‘We’ll Make It Up on Volume’ Fail? (XRT, TGT, KSS, JCP) (Wall Street Sector Selector)|
Back when many Wall Street "strategists," economists, retail industry trade groups, and others who claim to know what they are talking about were predicting a strong holiday selling season (and the long-awaited return of the free-spending U.S. consumer), I warned that there was much less there than meets the eye (see here and here).
|1/5/12||Can J.C. Penney Capture Some of Apple's Retail Magic? (Benzinga)|
Today, J.C. Penney shares fell nearly 7% after the company announced a cut in its fourth quarter guidance. The company guided Q4 EPS to be in the range of $0.65-0.70 against a prior guidance of $1.05-1.15. Analysts had forecasted EPS to be $1.08 for the quarter. Investors have watched the retailer closely ever since former head of Apple retail stores Ron Johnson took control, hoping that the CEO would infuse some of his creativity into J.C. Penney retail stores. J.C. Penney stores has...
|1/1/12||Technical Analysis On J.C. Penney Company, Inc. (NYSE:JCP) Stock Picks (Penny Stock DD)|
Stock Performance: J.C. Penney Company, Inc. (NYSE:JCP) stock picks dropped by 1.01% to close at $35.15 with traded volume of 2.49 million shares in the last trading day as compare to its average volume stood at 4.07 million. The RSI value (stock picks) is 63.10 times depicts that the current share value is in overbought level. The [...]
|12/21/11||(JCP) J.C Penney Sales Disappoint Again (Stock Blog Hub)|
J. C. Penney Company Inc. (JCP), a leading retailer of apparel and footwear, accessories, fashion jewelry, beauty products and home furnishings, recently reported sales results for the four-week period ended November 26, 2011. The company’s comparable-store sales for November inched down 2% compared with a 9.2% increase in the prior-year period. As per the company, it [...]
|12/15/11||(JCP) Not a Great Year for J.C. Penney (Stock Blog Hub)|
An economy plagued by financial crisis and high unemployment remains a bitter truth, but relentless efforts to emerge from these doldrums cannot be ignored. The ongoing turmoil has also touched J. C. Penney Company Inc. (JCP), which has seen its crests and troughs through the year despite trying every means to tide over a distressed [...]
|12/15/11||(JCP) J. C. Penney Bets on Martha Stewart (revised) (Stock Blog Hub)|
The economy is struggling, and so is J. C. Penney Company Inc. (JCP). The company has been trying every means to uplift itself, and the latest move of acquiring a 16.6% stake in Martha Stewart Living Omnimedia Inc. (MSO) is just an another step towards that direction. J. C. Penney is betting hard on New York-based [...]
|12/12/11||Can J.C. Penney Look Solid in Martha Stewart’s Stripes? (Investment U)|
New CEO Ron Johnson certainly isn't resting on his laurels during his first quarter heading up J.C. Penney (NYSE: JCP). Straight out the gate, he shook up the rest of the management team, and now he's making trades with Martha Stewart...Can J.C. Penney Look Solid in Martha Stewart’s Stripes?... >>