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J. C. Penney Company, Inc. Message Board

  • noplacetosit noplacetosit Apr 17, 2013 11:29 AM Flag

    Right on Target???

    Target Warns Current-quarter Profit Will Miss Forecasts

    Tuesday, 16 Apr 2013 05:24 PM

    Target Corp. warned earnings for the first quarter would miss its expectations on weaker-than-expected sales of seasonal and weather-sensitive items.

    The discount retailer said adjusted earnings per share for the current quarter would come in slightly below the low end of its prior outlook of $1.10 to $1.20.

    Target now expects same-store sales to be about flat. It had earlier forecast same-store sales to be flat to up 2 percent.

    "We see this (outlook) as largely expected, given the far-reaching discussion of weak March retail sales," Stifel Nicolaus analyst David Schick said.

    U.S. retail sales contracted for the second time in three months in March, falling 0.4 percent, a Commerce Department report said.

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    • If results are lackluster for a good retailer like Target, it's hard to imagine JCP faring any better. It will probably be another quarter of double digit revenue losses for JCP by my estimates. I don't know what the market has factored into the price at this juncture, but the reality of another big loss can't ultimately be good for the share price.

      Disclosure: Short


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