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Pro-faggot marketing killing JC Penny. A Tattered Look For J.C. Penney: $203 Million Q3 Loss And Fewer Customers.

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We Do Not Like Faggots

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Dec 26, 2012, 8:16:37 AM12/26/12
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Hiring a fucking lesbian child molester didn't work out did it?
Prepare for bankruptcy. You're going down.

J.C. Penney shares sank as much as 10% this morning, after the
department-store chain, in the midst of a controversial
turnaround, posted a larger-than-expected quarterly loss.

J.C. Penney swung to a $203 million, 93 cents a share, loss,
from a $186 million, 71 cents a share, profit a year earlier.
Excluding one-time items, J.C. Penney lost 56 cents a share.
This greatly exceeded analysts� prediction of 19 cents a share.

Same-store sales fell 26.1%, suggesting that J.C. Penney�s
struggles to attract and keep customers continue. This is a key
metric for retailers because it strips away volatile results
from newly opened or closed stores.

�At first blush, the JCP print is not very pretty. At second
blush, the JCP print might be even worse than the first blush,�
says Deutsche Bank analyst Charles Grom. �Trends at J.C. Penney
are obviously getting worse, not better, and we are becoming
more and more convinced that sales in 2013 will also decline,
which could lead to a going-concern problem next year.�

Revenue in the third quarter was $2.92 billion, beneath the
$3.23 billion forecast by analysts. Gross margin fell to 32.5%
from 37.4%. And significantly, J.C. Penney did not update
investors on its pledge to have $1 billion in cash on the
balance sheet to start 2013, a signal that it may not be able to
fulfill that goal.

The drop in same-store sales, which has occurred throughout the
year, also highlights concerns about how badly J.C. Penney will
perform during the key Christmas shopping season, a period where
retailers gain a significant portion of annual sales. �I am sure
many of you are wondering how we�re going to make it through the
next eight weeks,� CEO Ron Johnson this morning told an audience
of investors and analysts

Shares of J.C. Penney fell 7.2% in early afternoon trading.

�J.C. Penney is not a top destination and is nowhere near
becoming a top destination in peak seasonal shopping periods,�
says Brian Sozzi, chief equities analyst at NBG Production. �If
these comp and margin run rates continue, J.C. Penney may have
to raise capital or consider removing itself from the public
markets�getting certainty of value for shareholders instead of
staying public and hoping the turnaround brings to surface
unrealized value.�

Johnson hopes an ambitious transformation of the 11o-year-old
retailer�refreshing locations and creating a stores-within-a-
store layout�will make it more competitive against Kohl�s and
Macy�s, as well as Wal-Mart and Target.

Johnson, the former Apple Retail chief and Target executive,
this morning described a split in the company: Customers dislike
what the old J.C. Penney has become, but are upbeat about the
new stores. The makeover includes wider aisles and sections
devoted to individual brands centered around a cafe and lounge
area; technology, like iPads and mobile checkout systems, also
play a role. �I�m really leading two companies. One is J.C.
Penney, a promotion department store. The other is JCP, a
specialty department store,� says Johnson. �What�s going to be
good for one is not going to be good for another.�

http://www.forbes.com/sites/abrambrown/2012/11/09/investors-line-
up-to-check-out-from-j-c-penney-after-203-million-q3-loss/

Choke on your faggots and go bankrupt.

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