hmmmmm, how do i say this... GOOD!!!And the trajectory is set, even have his leaving.
Most people I know don't trust this store anymore. I don't.
They have a LONG WAY to go if they EVER want their customer base back. Ignoring Ellen and all that crap simply is not enough, anymore.
Maybe they should double-down on gay activism.
I am so pleased to see this company go down.
Not so fast South40.....
WJS Marketwatch....updated
....Investors breathe a sigh of relief over J.C. Penney....
May 7, 2013, 5:56 PM
As long as there’s no really dreadful news, investors seem to be willing to go easy on J.C. Penney Co. JCP+1.83%.
The retailer reported after the market closed Tuesday that its preliminary fiscal first-quarter sales fell 16% to $2.64 billion. That missed the $2.74 billion consensus estimate posted by FactSet. Comparable sales, meanwhile, dropped 16.6%, also worse than the 11% drop of analysts surveyed by Retail Metrics.
Nevertheless, it’s comforting the sales drop was less than the 25% decline last year.
Also giving investors some solace, the company said it expects cash and cash equivalents at the end of the first quarter (May 4) to be about $821 million.
After ending last year with $930 million in cash and recently tapping $850 million from its revolving credit line, analysts said Penney may have burned less than $1 billion in cash in the first quarter, better than the $1.3 billion burn rate some feared.
“They’ve got enough cash just to make through the summer,” when there are peak cash needs in July and August, said Morningstar analyst Paul Swinand in an interview. He said Goldman Sach’s $1.75 billion in financing also provided a welcome cushion to its cash coffers.
Swinand rates the stock a buy, keeping him among a small group of analysts betting on a turnaround at the struggling chain.
Penney shares rose 2% on the news.
The company blamed the sales decline partly on the construction of its home departments in 505 stores and on its earlier pricing and marketing strategies, which it said are being changed under returning Chief Executive Mike Ullman. Penney said it issued the preliminary results because of the Goldman Sachs loan. Final results will be released on May 16.
hmmmmm, how do i say this... GOOD!!!I guess Ellen and that “love fest” with the gays didn’t work out to well.....
Penney’s used to be a family-store. They decided to cater to homosexuals. They didn’t get their business anyway, and now they have lost ours. How much did the CEO who caused this fiasco walk out with laughing all the way to the bank?
And now that Soros is into JC Penney, I’m ALL the way out.
The gay community is not the 90% they said it was?
Oh well. bye bye JC Penny.
“Business sucks but we are still FABULOUS”!
LLS
Glad he’s gone, and hope the damage can be repaired. Finally went back after a year, and found the softest, prettiest V-neck tees. I believe they are called “slub tees” and come in every color of the rainbow. $6.99!!
Waaahaaahaaa!!!
Is JC Penney still celebrating sodomy? I haven’t bought—and in fact I have AVOIDED the stores in my area since finding out about their embrace of perversion.
Good. It was bad enough to push Ellen Degenerus on us, then Soro’s buys a chuck of stock. I use to shop at Penney’s, no more.
They were so anxious to enter a bold new scheme...throw the LGBT crap in the public’s faces, like Obama does, and hopefully, the world rushes in to say how wonderfully fashionable you are. Only, they forgot that JCP customers are, and mostly have been, conservative and family-oriented by traditional means.
My wife dragged me to the local JCP to look at some housewares.
I found the exact same item (vendor, brand, box and item, same sku even) at the local Walmart for 30% less. If they sell the same cr@p as Wally world, why bother to go to either place?
JC Penny’s was lost quite awhile ago. They made their bed, chose who to stand with all on their own....so enjoy yourselves but I won’t be a part of what you have become.
Gay C. Penney. Let them rely on the perverts whose butts they kissed.