Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  J C Penney Company Inc    JCP

Delayed Quote. Delayed  - 12/02 10:01:44 pm
9.81 USD   +2.94%
12/01 J C PENNEY : Jcpenney.com delivers a wonderland of unexpected gifts
11/29 Macys, Stage, JC Penney tops in Black Friday discounts
11/28 J C PENNEY : Staff report
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

JC Penney Sees Adding More Stores in Metro Areas

share with twitter share with LinkedIn share with facebook
share via e-mail
0
06/05/2012 | 10:11pm CET

--J.C. Penney sees itself eventually opening more stores in large areas

--Company will return to using the word 'sale'

--Martha Stewart has created 3,000 items for Penney to sell, Penney CEO says

(Adds additional commentary by Penney chief executive from presentation he gave investors Tuesday)

 
   By Karen Talley 
 

J.C. Penney Co. (>> J.C. Penney Company, Inc.) sees itself ultimately adding more stores in bigger metropolitan areas to become more competitive with rivals Macy's Inc. (>> Macy's, Inc.) and Kohl's Corp. (KSS), which already are well-stored in these parts of the U.S.

Penney would like to "add more stores in big" areas, Chief Executive Ron Johnson said at an industry conference. "When we get content correct, we think we can become a growth vehicle."

Mr. Johnson sees more sophisticated merchandise serving these regions and said the company, because its is largely no longer promotions oriented, can attract key merchandise.

Mr. Johnson acknowledged Penney still has a long way to go to get existing operations humming.

"We like where we are headed," he said. But "we haven't communicated the pricing change in a way customers understand yet."

To that end, Penney is going from using the phrasing month-long "values," which confused customers, to month-long "sales," Johnson said.

"What we intend to do is a sale; we run 12 a year," Johnson said. "That's a messaging change within our vision for how we want to compete."

Johnson also said that Martha Stewart Living Omnimedia Inc. (MSO) has already created 3,000 items for the retailer to sell in one of its planned stores within a store. The arrangement with Penney is somewhat controversial: Macy's claims to have exclusive selling rights to this type of Martha Stewart product, but Penney struck a deal that is set to begin in Febuary. Macy's has taken Martha Stewart Living to court over the arrangement.

J.C. Penney has gone from being extremely promotional under its former executives to a three-pronged approach under Mr. Johnson, the former retail chief at Apple Inc. (AAPL) who joined Penney in November.

The three-level plan does away with scores of sales events in favor of more-stable pricing. The approach involves everyday prices, sales that last a month, and certain merchandise marked for clearance the first and third Friday of each month and kept at promotional levels until sold.

But in the first quarter that Mr. Johnson's strategy was in place, Penney generated a huge loss, raising questions about whether the transformation will work. For the quarter ended April 28, Penney reported a loss of $163 million, or 75 cents a share, compared with a year-earlier profit of $64 million, or 28 cents a share. Total sales declined 20% to $3.15 billion.

J.C Penney was recently down 3.6% at $24.35.

Write to Karen Talley at karen.talley@dowjones.com

Stocks mentioned in the article : J.C. Penney Company, Inc., Macy's, Inc.
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on J C PENNEY COMPANY INC
12/01 J C PENNEY : Jcpenney.com delivers a wonderland of unexpected gifts
11/30 J C PENNEY : Management's Discussion and Analysis of Financial Condition and Res..
11/29 Macys, Stage, JC Penney tops in Black Friday discounts
11/28 J C PENNEY : Staff report
11/28 J C PENNEY : Shopping frenzy continues on Cyber Monday
11/26 J C PENNEY : Milton woman caught stealing from Macy's and J.C. Penney
11/26 J C PENNEY : Black Friday still bustles, even with smaller crowds
11/25 J C PENNEY : Waiting until morning on Black Friday leaves chance for family bond..
11/25 VIDEO : Black Friday! It's 12:01 a.m., it's Auburn and it's on!
11/25 BEST BUY : First in line on Thanksgiving? Moms
More news
Sector news : Department Stores - NEC
05:24p Investor Cuban to testify at Senate hearing on AT&T-Time Warner deal
12/01DJAMAZON COM : Correction to Amazon Web Services Articles From Wednesday
12/01DJAMAZON COM : Cloud Computing Division Unveils New Cyber Security Service
12/01 Lower food prices weigh on Kroger's profit forecast
12/01DJAMAZON COM : Uses Trucks To Drive Data Faster -- update
More sector news : Department Stores - NEC
News from SeekingAlpha
07:06a J.C. Penney on watch after BAML turns positive
11/29 J.C. Penney breaks higher after surviving Black Friday checks
11/29 Department store sales in positive territory for November
11/28 WALL STREET BREAKFAST : Trump Trade Gives In To Gravity
11/21 Game Plan For The Week - Cramer's Mad Money (11/18/16)
Advertisement
Financials ($)
Sales 2017 12 695 M
EBIT 2017 401 M
Net income 2017 0,83 M
Debt 2017 3 690 M
Yield 2017 -
P/E ratio 2017 -
P/E ratio 2018 13,85
EV / Sales 2017 0,52x
EV / Sales 2018 0,45x
Capitalization 2 938 M
More Financials
Chart J C PENNEY COMPANY INC
Duration : Period :
J C Penney Company Inc Technical Analysis Chart | JCP | US7081601061 | 4-Traders
Full-screen chart
Technical analysis trends J C PENNEY COMPAN...
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 11,8 $
Spread / Average Target 24%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Marvin R. Ellison Chairman, President & Chief Executive Officer
Edward J. Record Chief Financial Officer & Executive Vice President
Therace Risch Chief Information Officer & Executive VP
Robert Gerald Turner Independent Director
Leonard H. Roberts Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
J C PENNEY COMPANY INC42.19%2 938
WESFARMERS LTD0.41%34 798
KERING27.95%27 255
AEON CO LTD-15.21%12 088
EL PUERTO DE LIVERPOOL..-23.44%10 323
ZHEJIANG CHINA COMMODI..-9.47%6 516
More Results