In 2007 it traded briefly in the 60 range. The company was much better managed then and actually had a customer base. JCP had a nice franchise in apparel and home fashion. and jewelry. Today all these sales are much lower and they have taken the old sears strategy of store with in a store. It has not worked at sears and it will not work at JCP either. Why ? Can not get the brand names that the customers who shop up scale want. They will be squeezed by Target, Kohls head on. Will be stopped out by Macy's on the top and TJ Maxx and Marshall's at the bottom. No country for old retailers who spend all their money without testing. Worst managed company ( retail ) since Montgomery Ward. Good luck. If you are long you will need it. I hope you do not bank with this guy who told you such nonsense.
2007 it traded briefly in the 60 range
I believe that was more in the 80-85 range - don't remember the exact but the CEO du jour at the time thought it would be an excellent investment of JCP funds to repurchase stock in the 80 dollar range - - - that billion today is worth 75% less - - - - I believe they were trying to prop the stock price up at the time - - - - - JCP has a history of CEO's more interested and talented at filling their own pockets than running a retail operation - - - - - it's amazing they managed to turn a profit even up until RJ decided it was his turn for a piece of the JCP pie.