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I bought about 700 shares of this stock based on a few months of visits to stores in my local area. Volume seems above average and the stores seem to have the right products at the right time. I feel like the management team post-Ron Johnson is employing a decent-enough strategy to crawl out of debt. Still, the brick and mortar space has a litany of long (as well as short-term) liabilities. Thoughts?
I agree, dead money. Stay out of retail stocks. With the recent pullback in the market, there are A LOT of better companies to put your money into. Why bet on a "maybe" turnaround story in a terrible sector like this when great companies like BRK, SBUX, GD, NKE or MMM are all significantly off of their recent highs?
Actually I would disagree with the other posters to a point but I would "trade" JCP as opposed to invest in it. When do 4th quarter earnings come out? That will be the tricky time although I know JCP has been trying to turn the ship around & still be a relevant company.
it's limp money, not sure it is dead but on last legs
large warehouse stores are just dying off to internet competition. Look at the decline in large indoor malls as well. I like JcPenney but that doesn't mean I don't find Macys or Amazon to be worse quality. It's just closer/convenient, but that doesn't mean I'll shop more often there
The long term chart doesn't look very good, going back to 2001 or 02. Very flat (dead), the last two years.
There are a lot of headwinds in retail (look at M, nasty sell off). Long term it could look like Montgomery Wards or any number of failed retail stores.
It's had a nice pop since feb though. I'd sell at $12 or $13 if I bought it at $7 or $8.
I hold a special hate for this company, who really should be out of business, and would be if they hadn't been able to fleece the investment community a year or so ago with another stock offering.
You see, back in the early 90's I was a recent college graduate with retail experience, had an interview for a manager trainee position, passed it, and then had another totally BS interview with the next guy up the food chain. He asked a whole bunch of nonsense questions and being that I didn't go for that stuff then and still don't, you can imagine how the interview went. The guy who interviewed me didn't even get my name right when I followed up with him by phone (this was pre e-mail days). Loser. Not getting the job turned out to be fine as the job I did get a few years later was non retail and turned out to be a great fit for my finance skills.
I've never bought a thing at JCP since that time --- yeah, I can hold a grudge, but there are plenty of other places to spend money, and more deserving -- Target, Macy's, or over the internet.
I have a short position in JCP that I opened when it was around $9.50, and I am hanging on to it. This company can't make money and shouldn't be around.
Jcp is up 75% ytd, I think 45% in February. A few bad calls in this thread
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