J. C. Penney Company (JCP)
by Zacks Equity ResearchSeptember 21, 2012 | Comments : 0 Recommended this article: (0)
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We observe that despite a well-diversified supplier base, the company has been struggling against other retail chains. In order to uplift itself and to become America's favorite store, J. C. Penney announced slew of measures, which include new pricing strategy, fresh logo, strategic merchandise initiatives, cost reduction and enhancement of customers shopping experience.
However, the dismal results dashed those hopes at least for the near term. Moreover, an erratic consumer behavior and a sluggish economic recovery still remain matters of concern. Consequently, we downgrade our recommendation on the stock to Underperform.