If JCP put out a press release reporting that news, the stock would jump 25% instantly. It couldn't happen soon enough for me!
And if you look under your pillow, you will find an pot of gold that the Tooth Fairy left you!!!
If the turnaround is working, JCP stock price might very well double. Look at RIMM (now BBRY), Best Buy (BBY), HPQ, and others for reference.
If the turnaround doesn't work, JCP management should do the responsible thing and put the company up for sale. That would cause an immediate increase in stock price.
Seems that JCP shorts are counting on current management floundering and driving this ship onto the rocks.
JCP already has a working relationship with GS due to that financing they coordinated in recent months. The risk/reward here seems to favor the long side of the trade.