They fired Ron Johnson 5 months ago and have plenty of time to find a new CEO. Ullman looked, pretty foolish yesterday and I would think he will be gone pretty quickly. Bad news is out, everyone hates JCP, now bring in a new CEO with retail experience. I think JCP will turn it around but if they don't replace the CEO and chairman quickly, they are toast. Throw out some off the board members too, what a bunch of clowns. Volume and selling pressure was amazing the last few days, reminded me of 2009.
Agreed, but the management at JCP has botched everything with their lousy communcation skills. They have had 5 months to find a new CEO, Ullman isn't going to be the guy that turns things around. I look at BBY and I am amazed at the turn around in the stock which is not warranted in my opinion. Two 100 million share days back to back is captiulation in my book.