Keep Your Eyes on This Stock: J. C. Penney Company (NYSE:JCP)

J. C. Penney Company (NYSE:JCP) stock observed trading -70.49% off 52-week high price. On the other end, the stock has been noted 14.13% away from low price over the last 52-weeks. The stock disclosed a move of -36.88% away from 50 day moving average and -50.89% away from 200 day moving average. Moving closer, we can see that shares have been trading -15.56% off 20-day moving average. It has market cap of $221.73M.

 On Aug. 15, 2019, J. C. Penney Company (NYSE:JCP) notified financial results for its fiscal second quarter ended Aug. 3, 2019. Net loss for the quarter was $48 million or ($0.15) per share.  Comparable sales decreased 9.0 % for the quarter.   Excluding the impact of the Company’s exit from major appliance and in-store furniture categories, comparable sales decreased 6.0 % for the quarter.  Cost of goods sold for the quarter was 63.2 % of sales, a decrease of 310 basis points compared to the same period last year.  Inventory at the end of the second quarter was $2.47 billion, down 12.5 % compared to the end of the second quarter last year.

I am pleased with the results we delivered this quarter and the progress we are making against our plan.  While we still have work to do on our topline, I strongly believe that growing sales in an unprofitable way is simply not an option.  The only way I know how to reconstruct a business, is through a holistic approach across all the key tenets of strategic, purposeful and effective retailing. Notably this quarter, the meaningful improvement we delivered in cost of goods sold was driven by lower permanent markdowns, improved shrink results, increased store and online selling margins and the exit of major appliance and in-store furniture categories.  Additionally, we reduced inventory by 12.5 % as we continue to reinstate the discipline required to improve inventory management and productivity.  Delivering on our customers’ expectations relies heavily on our vendors and the portfolio of brands we offer. The ongoing dialogues and interactions we are having with our vendors are strong and positive – they are equally excited about our direction and are bringing new ideas and innovating with us, said Jill Soltau, chief executive officer of JCPenney.

we will begin sharing more insights from where we have been as a company and the holistic approach we are taking to reposition JCPenney to its rightful place in the retail landscape.  We have attracted top talent in the industry and each of these passionate leaders made a choice to come to JCPenney at a pivotal time.  Together, we are laser-focused on two parallel paths.  One is building a framework to reestablish the practices needed to strengthen the day to day operations of our business.  Concurrently, we are developing differentiating, transformational initiatives. The journey we are on will restore health back into our company.  It is an ongoing process and the proposition we are implementing is for the long-term.  We are not simply running a business – we are rebuilding a business.  We are making a difference and, I feel more confident than ever that we will reinvigorate and rejuvenate this great company to sustainable, profitable growth.  I will continue providing updates as we move through our business plan and finalize a more comprehensive, long-term strategy for JCPenney, Soltau added.

 The USA based company J. C. Penney Company moved with change of 3.88% to $0.61 with the total traded volume of 9203282 shares in recent session versus to an average volume of 9212.64K. The stock was observed in the 5 days activity at 0.82%. The one month performance of stock was -43.98%. JCP’s shares are at -46.93% for the quarter and driving a -74.90% return over the course of the past year and is now at -41.83% since this point in 2018.  Right now the stock beta is 1.55. The average volatility for the week and month was at 12.66% and 10.34% respectively. There are 366.5M shares outstanding and 305.34M shares are floated in market.

Timothy Bowers is a stock trader and Analyst writer. His current focus is top trending News. He scans the wall street market and then cover the top trending stock. In addition to content writing, Timothy is an SEO Expert and Digital marketer. He has the expertise to deliver a wide range of projects and the experience to understand the quality of work required.

Address: 1884 Hopkins Landing Road, Quincy, FL 32351, USA


Zip Code: 32351

Phone Number: 850-655-1866 

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