" Problems = 30% of inventory was not priced"
Store employee told you this? LOL!!!
JCP was running a sale that if I remember correctly ended at 1 pm on Sat.
No doubt that have or will have other 'sales' running.
JCP announced Sept sales down 4% from comparable 2012 Sept sales.
That is not up. How were Sept 2012 sales compared to August 2012?
YOY compares are very easy IMO. If they can't beat those, and they didn't in Sept then it is very serious.
I don' think I am waiting for anything.
However to pursue you line of reasoning, if someone wants to get long and waits until sales have flattened of finally start to improve then they will be "way too late"?
So JCP then will rocket from $7 to $14 and stop? that will be it? Anyone will be "way too late" because stock price will not improve after that? Party will be over?
IMO there is a very real possibility that JCP can drop sub $2, survive going out of business, but selling off some assets and reorganizing.
Here are rough numbers from yahoo.
Macy's has about $4.5 billion net debt and $17 billion market cap.
JCP has $4 billion net debt and $1.5 billion market cap.
Macy's net debt is 1/4 of market cap.
JCP's net debt is 2.6 times market cap.
When was Macy's last losing money quarter?
How many of last 10 quarters has JCp lost money?
I see it differently. If I see 30 vendors at boardwalk all selling similar T-shirts, I am not in a hurry to buy from one vendor over another.
I always think that a struggling company like JCP should cut the under performing units. However, maybe this would require cashflow for one-time charges to close the units. A catch 22.
Also still a catch-22 to sell anything they have loans against. They would have to get agreement from lenders or the lines of credit and use proceeds to directly reduce their credit facilities or loans.
I don't know the break down of every store but if a store hasn't made money in 5-10 years, dump it unless closing costs will exceed benefits.
I think you have failed in trying to make a point. At least you tried. Longs usually just say JCP going up!!!!!!
So if a store is advertising then by your logic it means they are losing business?
I have seen in my estimation, 3 JCp commercials to every 1 Macy's commercial.
I have also seen non-stop JCP 'sales; events promoted through print.
When I say non-stop print promotions by JCP, I am not exaggerating. Every week there is a sale there. After one ended I believe that had an in store sale supposedly ending at 1pm on 10/26 but online ending 10/30.
They have so many sales I can't keep track of them all.
I expect there to be another sale announced after the last one though maybe JCP is putting on an extra push to meet quarter end numbers.
I make no claim on the effectiveness of JCP's sales. Only they know or now.
Remember JCP's sales were down 4% in Sept from 2012 Sept numbers. I believe it was an easy compare.
So what does it mean if JCP is flat or slightly beats in Oct 2013 compared to an easy compare with numbers in Oct 2012(that were down from OCt 2011)?
"All theses stores sell the same stuff minus private label."
There you go making my point. I consider many clothing retailers just like boardwalk vendors selling the same T-shirts.
So why the urgency to buy at JCP when there are over 200 national clothing retailers? There are many many alternatives.
It is not like Best buy situation AT ALL. Best buy was cash flow positive every quarter during stock price drop except for one time items.
Best buy is about the last national electronics retailer. It doesn't compete with 200 other national electronics B&M stores.
Only silence when I ask the question of how much stock insiders purchased over last year.
Guess the silent period lasts more than a year for JCP.
ty i am smart.
JCP already has a lien against its RE. It is tough to sell something that you have loans against. Creditors don't like that.
Why did SLV drop from $20+ in 2008 to sub $10 in 2009?
Why would the next 20-40% stock market correction be any different?
People that sold stocks in 2008-2009 also had to put their money somewhere but Pm still dropped; silver much more than gold.
He has been right the last two times I checked so I place more value in his opinion that some yahoo nut job screaming that some stock or PM is going through the roof because that is what they want.
And what are you willing to cut in Us spending?
Defense budget was $350 billion 2001. It was $850 billion in 2012. Include Veterans benefits, foreign military and economic aid in defense budget.
"up to 10 rewards or 1,000 dollars that month."
$1000 dollars? On how much money spent? $10,000?
What are they selling, cars?
Well, last week longs were saying JCp has $11 billion in RE.
JCP does not have near $11 billion in loans or credit.
So if JCP RE is really worth $11 billion then I'd think they would have just reworked loans to extend their credit , or sold some assets rather than issue shares.
Provided they have collateral, they can always rework loans or get more financing.
I hear what you are saying about issuing shares under ackman.
There have been rumors that JCP received calls last week from high profile, angel investors.
Exactly what kinds of terms do you think an 'angel investor' would want?
Common would get diluted again IMO through the issuance of warrants. An angel investor would also likely want a high interest rate.
You used to post Mary Ross-gilbert "Not worried about JCp bonds" just about every day.
Why so angry now that she gave JCP stock $1 price target?
Who gets paid first? Bond holders or stock?
Citigroup gave JCP a $1 liquidation value in late sept if I recall correctly and it was based on their numbers, not rumors.
You don't seem too smart.
So a silver ring that weighs 1 1/10 of an ounce and sells for $100 is overpriced?
An automobile that sells for $25,000 but is made up of steel and plastic is overpriced?