IT IS TIME TO DUMP JCP! HERE IS THE FINAL NAIL IN THE JCP COFFIN, READ AND THEN DUMP.
" Deutsche Bank analysts are preemptively cutting their earnings targets for several retailers just ahead of earnings releases scheduled to come out over the next few weeks, citing " declining mall traffic (down ~6% YOY past 3 weeks), slipping consumer confidence, lack of must-have fashion items, and unseasonable weather."
"Overall, we believe sales are trending materially below our prior view and consensus, and we are therefore lowering [same-store sales] & EPS estimates for [Macy's, Kohl's, JCPenney, and Nordstrom]," write Deutsche Bank analysts Paul Trussell and Matt Siler in a note to clients. "In addition, we believe the Department Store sector has experienced market share shifts to Off-Price retailers and Specialty/Vendor shops as well as a crowding out to other pockets of retail, particularly Home Improvement."