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Old 03-29-2013, 08:42 AM
 
Location: Tennessee/Michigan
28,965 posts, read 49,711,865 times
Reputation: 21029

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WASHINGTON, March 26 (UPI) -- Struggling U.S. retailer J.C. Penney Co. may be heading for bankruptcy, a financial analyst said, downgrading the chain's prospects over the coming year.

The chain, spending heavily to upgrade its 1,100 stores, reintroduced discounts and coupons to gain back customers after losing them when it dropped the discount model in favor of "everyday low prices" -- but it may be running out of time to turn itself around, BMO Nesbitt Burns analyst Wayne Hood said in a research note.



Read more: BMO Nesbitt Burns' Wayne Hood: J.C. Penney may have to file bankruptcy - UPI.com
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Old 03-29-2013, 07:07 PM
 
1,139 posts, read 3,057,456 times
Reputation: 794
Quote:
Revenue plunged 28.4 percent to $3.9 billion
If they made 3.9 billion then as long as they control the expenses(cost), the company will stay afloat...
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Old 03-30-2013, 01:49 PM
 
Location: Waterworld
1,031 posts, read 1,284,127 times
Reputation: 990
Guess I better get in there and use my store credit then before it's too late.
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Old 03-31-2013, 11:37 AM
 
Location: North Idaho
25,453 posts, read 33,441,693 times
Reputation: 52662
They've been closing stores, which is never a sign of robust good health.
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Old 04-07-2013, 01:27 AM
 
26,555 posts, read 33,939,494 times
Reputation: 23948
I have been saying for quite a while, they won't be around in 5 years.
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Old 04-07-2013, 02:56 AM
 
3,853 posts, read 11,986,150 times
Reputation: 2522
Quote:
Originally Posted by SD4020 View Post
I have been saying for quite a while, they won't be around in 5 years.
Same as well, I would short the stock personally. It is dead.
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Old 04-08-2013, 02:16 PM
 
Location: Sunnyside
2,008 posts, read 4,181,882 times
Reputation: 1274
Is this analyst getting it's news from other analysts? They've been saying JCP is going that way since earlier this year.
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Old 04-08-2013, 06:01 PM
 
Location: US
20,891 posts, read 20,389,178 times
Reputation: 16799
Quote:
Originally Posted by oregonwoodsmoke View Post
They've been closing stores, which is never a sign of robust good health.
Closing stores is the start to turning around a failing company. They need to control expenses and shut down stores that are too far in the red. Starbucks did this quite nicely. However, I don't have any hopes for JCP and if forced to choose, I would short it.
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Old 04-11-2013, 06:44 PM
 
Location: NJ
18,668 posts, read 17,969,257 times
Reputation: 7284
JCP is just trying to pretty itself up by closing stores, in the hope someone will be dumb enough to buy them.

Thefat lady is singing.
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