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J. C. Penney Company, Inc. Message Board

  • nusaiba nusaiba Oct 5, 2013 6:11 AM Flag

    It is important to remember that Ackman’s exit was not necessarily a sign that he believes that J.C. Penney is facing failure, it was just that his investment was a failure

    one glimmer of hope that the results contained — proof that Ullman’s efforts to reverse his predecessors’ flawed pricing scheme had slightly staunch same-store sales declines — did not give Ackman’s arguments about the company’s future direction any credence. After all, it was Ullman’s predecessor, Ron Johnson — handpicked by the activist investor — who led J.C. Penney to 2012 with a 25 percent plunge in revenues, 50 percent decline in stock price, and 13 percent drop in customer traffic through his misguided turnaround plan.

    It is important to remember that Ackman’s exit was not necessarily a sign that he believes that J.C. Penney is facing failure, it was just that his investment was a failure.


    “If J.C. Penney is able to return sales to the levels of recent years, generate historical levels of gross margins and maintain the [operating cost] reductions achieved by prior management, the stock should rise substantially from current levels,” he wrote in the second-quarter letter to shareholders. “We believe these objectives are achievable, but how much time they will take is more difficult to determine.”

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    • Oct 2, 2013 Ackman said in newsletter ""we are bearish on J.C. Penney’s prospects"

      funny how yo ucvare so much what Ackman says until confronted with the truth.

      Guessing you are long and stuck.

      Not that you are doing this but it is wrong to try and suck people into a sinking ship.

 
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