My first hand experience suggest JCP isn't going to get what they want from appliances. Too bad, I think it was a good idea but JCP is having to rely on third party's due to their weak financials. I'm now looking to get out of this investment because just too much risk to the downside. Macy's and others can weather what is shaping up to be weak Christmas and next year brings recession with Hillary election. Cash makes most sense.
I use to own this stock several years ago and decided to visit again to see what was happening. At first glance it appears not much has changed even with so many management and Board changes this company is still not able to get out of its own way. This company should be used as an example on how not to run a business. I use to think that Cosi had to be a money laundering operation as an attempt to explain what was unexplainable. This company has been and apparently remains unmanageable. It looks like it will finally be delisted in Nov this year. RS does not look feasible.
Since Sept. 9th shares traded each day has been about double the average. No news to explain the selling, it could be simply someone needing to raise cash or maybe they have lost confidence in Huntsman. ??
Revenues are expected to continue to decrease which will create expectation that dividend will again be under preasure next quarter. With this company's history shareholders will be exiting this investment today in huge numbers. I would not be surprised to see this down over 10% today and as we get to the second half of Sept maybe another 10 %. When we see $5 level at end of this year it might be time to buy again.