Back up the truck folks, and load up today! "A double down" is the word at or below $7.28. The news was not bad at all, forward looking to next quarter is excellent. Price to book is ridiculously low now Below 1.05x
Weak hands will be shaken out with "sell stop orders" look for damage control by JCP in the next coming week, and a pop in price... This is the time to make up your looses for the past few months... GL
The 1 Big Lou NYSE
The biggest problem JCP has...among many, many, many problems, is vendors require huge liquidity. They start losing hundreds of millions a quarter again, starting right now. Long before the $2 billion runs out, vendors will require more or they will put them out of business.
Price to Book is meaningless. It's all about the money losing, liquidity and vendors.
chase07470: Comparable store sales and gross margin are expected to improve sequentially and year over year; inventory is expected to be ~$2.85 billion at year end; total available liquidity is expected to be in excess of $2 billion at year end. Your calculations are flawed my friend.
GL, The 1 Big Lou NYSE