|Bid||0.5815 x 2900|
|Ask||0.6099 x 800|
|Day's Range||0.5420 - 0.5899|
|52 Week Range||0.5300 - 2.0500|
|Beta (3Y Monthly)||2.58|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 13, 2019 - Nov 18, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||0.91|
Rating Action: Moody's upgrades five and affirms nine classes of MSBAM 2012- C5. Global Credit Research- 16 Aug 2019. Approximately $943 million of structured securities affected.
A JCPenney-thredUP deal will have the retail chain selling used clothes in its stores.Source: Supannee_Hickman / Shutterstock.com The deal between JCPenney (NYSE:JCP) and thredUP will have the chain's working together to sell used clothing for women. This will be possible with sections between 500 sq. ft. and 1,000 sq. ft. popping up in some JCP locations.So what stores will the JCPenney-thredUP deal affect. The new release from JCP doesn't go into detail about which of its stores will be selling used clothing. However, it does note that the change will be coming to 30 of its locations.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAccording to the two companies, the JCPenney-thredUP deal will have them refreshing each store's used clothing section every week to show off different items. Items that customers can purchase include handbags and clothing. JCP is betting that being able to try on clothes before purchasing will help customers get over the fact that they are secondhand.The JCPenney-thredUP deal will also still benefit customers that are part of the retail chain's loyalty program. This is due to purchases of the used clothing still earning customers JCPenney Rewards. * 10 Cheap Dividend Stocks to Load Up On "While there are more secondhand shoppers than ever before, we'll continue to test and evaluate how this resonates with customers," Michelle Wlazlo, Executive Vice President and Chief Merchant for JCPenney, said in a statement . "We're excited about the prospect of creating a new in-store experience that makes high-end brands attainable, as well as catering to eco-minded consumers who want more sustainable options in their wardrobe."JCP stock was up 3% as of noon Friday. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Cheap Dividend Stocks to Load Up On * The 10 Biggest Losers from Q2 Earnings * 5 Dependable Dividend Stocks to Buy As of this writing, William White did not hold a position in any of the aforementioned securities.The post JCPenney-thredUP Deal: JCP Stores Will Sell Used Clothes appeared first on InvestorPlace.
Macy's, Dillard's, and J. C. Penney posted bearish second quarter results that signal the resumption of the group's historic downtrend.
More shoppers are buying secondhand goods, and brands are getting in on the action rather than leaving that business to thrift and consignment stores.
J. C. Penney's (JCP) Q2 performance is adversely impacted by weak comps. To improve matters, the company announces partnership with thredUP.
J.C. Penney's second-quarter earnings report was far from perfect, but an improvement in adjusted EBITDA should give management some breathing room to implement a turnaround strategy.
Rating Action: Moody's upgrades four and affirms nine classes of WFRBS 2012- C8. Global Credit Research- 15 Aug 2019. Approximately $906.8 million of structured securities affected.
J.C. Penney will partner with secondhand retailer thredUP, the largest global online consignment store, the company announced in its second-quarter earnings report on Thursday.
The inverted yield curve sparks recession worries. Macy's (M) and Walmart (WMT) earnings diverge. A Nvidia (NVDA) earnings preview. And why Hasbro (HAS) is a Zacks Rank 1 (Strong Buy) stock, all on today's episode of Free Lunch here at Zacks...
Early optimism on an earnings beat seems to have vaporized as investors realized the company's results and customer traffic continue to point toward bankruptcy as a very real possibility.
(Bloomberg) -- J.C. Penney Co. got some welcome breathing room after signaling it’s making the hard choices now that could position it for a promised turnaround. The question is how much longer shareholders are willing to wait.“The next six months will be critical,” said Neil Saunders, managing director of GlobalData Retail. “If trading can be stabilized and if JCP pulls some big initiatives out of its hat, there may be a chance. If not, we believe it will be a clear signal that the end of the runway is fast approaching.”The company, which is at risk of delisting as its share price hovers below $1 per share, has been making tangible changes under its Chief Executive Officer Jill Soltau, who took the helm in October. Long lamenting its over-supply of product, J.C. Penney trimmed its inventory by 12.5% in the latest quarter and reduced its markdowns, which had been hurting sales.Under Soltau, the company has also exited the major appliance business and moved its furniture sales online only. J.C. Penney has renovated its fitting rooms and added a new check-out process aimed at re-igniting growth and attracting new traffic. On Thursday, it said it’s wading into the resale market, announcing a tie-up with thredUP, an online consignment store. This comes a day after Macy’s Inc. announced a partnership with the same company.Rebuilding Business“We are not simply running a business -- we are rebuilding a business,” Soltau said. “While we still have work to do on our topline, I strongly believe that growing sales in an unprofitable way is simply not an option.”Shareholders seem appeased. The retailer’s shares surged as much as 15%, before paring gains. Shares were up 5.1% to 60 cents as of 11:07 a.m. in New York.“She’s following her plan,” Poonam Goyal, a Bloomberg Intelligence analyst, said.But plans won’t keep them satisfied forever -- at some point investors will demand results. Same-store sales, a closely watched metric in retail, fell 9% in the latest quarter. That’s worse than analysts’ expectations for a drop of 5.3%, according to Consensus Metrix.“This all sounds great, but with the environment that we’re in today, is the customer still preferring to shop at a big department store? How is she going to drive traffic? At some point, topline is going to become an issue,” Goyal said.Tariff TroublesOther retailers, like Walmart Inc., have been able to pull off sales gains. Walmart’s results, along with economic data released Thursday that showed stronger-than-expected U.S. retail sales in July, helped calm fears that the country is headed into recession, with equity indexes rebounding from Wednesday’s rout. But department stores like Macy’s and J.C. Penney are still struggling.That’s because competition is ramping up from online rivals like Amazon.com Inc. and popular discount retailers like TJX Cos., which owns Marshalls and TJ Maxx. They’re also getting squeezed as the Trump administration ratchets up tariffs on Chinese goods. A levy on department-store staples like handbags already went into effect, with the vast majority of other products slated for hikes later this year, even after a partial reprieve. J.C. Penney is among the retailers exposed to the U.S.-China trade war as the critical holiday season approaches. The retailer in June sent a letter to the Office of the U.S. Trade Representative explaining how its core customers -- middle-class working women -- would bear the brunt of the proposed tariffs. Still, it said on a conference call that its sourcing in China is already lower than apparel industry averages.J.C. Penney sees comparable sales will be down 7% to 8% for the full year. But Chief Financial Officer Bill Wafford said that guidance did not include possible impacts from the latest round of China tariffs.The company expects liquidity to be at least $1.5 billion for the remainder of the year, it said. Still, it has very little breathing space, Saunders said. J.C. Penney has close to $4 billion of total debt, according to data compiled by Bloomberg, including bonds, revolving loans and a term loan. “It has enough liquidity to function for now, but it also has a big debt pile and a broken business that needs investment to fix,” he said in an email. “Those things are uncomfortable bedfellows.”(Adds details from conference call throughout)\--With assistance from Katherine Doherty and Karen Lin.To contact the reporter on this story: Jordyn Holman in New York at email@example.comTo contact the editor responsible for this story: Anne Riley Moffat at firstname.lastname@example.orgFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The retailer announced that 30 stores will offer secondhand women’s clothing and accessories via a partnership with consignment firm threadUP.
Penney (JCP) delivered earnings and revenue surprises of 43.75% and -2.39%, respectively, for the quarter ended July 2019. Do the numbers hold clues to what lies ahead for the stock?
Yahoo Finance Editor-at-Large Brian Sozzi joins The Final Round to discuss Walmart, whose better-than-expected second-quarter earnings prompted shares to soar in Thursday's trading session.
Yahoo Finance was joined by Jon Reily, from Publicis Sapient, to talk Walmart's great earnings report and what it means for retail.
Walmart had a huge quarter, beating on top and bottom lines, and saw online sales grow by 37%. Jeremy Bryan, Gradient Investments Senior Portfolio Manager, joins Yahoo Finance’s Brian Sozzi and Alexis Christoforous to break down the retailer’s quarter.