We Do Not Like Faggots
2012-11-22 00:47:20 UTC
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. Penneys
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 were 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
marketsgetting 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
retailerrefreshing locations and creating a stores-within-a-
store layoutwill make it more competitive against Kohls and
Macys, 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. Im really leading two companies. One is J.C.
Penney, a promotion department store. The other is JCP, a
specialty department store, says Johnson. Whats 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.
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. Penneys
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 were 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
marketsgetting 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
retailerrefreshing locations and creating a stores-within-a-
store layoutwill make it more competitive against Kohls and
Macys, 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. Im really leading two companies. One is J.C.
Penney, a promotion department store. The other is JCP, a
specialty department store, says Johnson. Whats 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.