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Source: J.C. Penney Shares Whipsaw as Debt Concerns Grow


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8 Responses to “Will JC Penney Survive?”

  1. Chief Tomahawk says:

    They could create the JC Penney Bank, then visit the FED’s window for a quickie (overnight) financing deal!

  2. davebarnes says:

    “super, mediocre department store” says it all.

  3. romerjt says:

    BR nailed it . . I haven’t bought a stock in 15 yrs but JCP demise seems so obvious I’m thinking of shorting JCP kinda looks like a 2 foot putt.

  4. nofoulsontheplayground says:

    The question I’ve been asking folks for the past 7-years is, “how will your life be different if J.C. Penney goes out of business?”

    Most answer that nothing will change, and that’s all you’ve needed to know about JCP’s future.

    They’ll do the Chapter 11 thing, reorganize and close a bunch of locations, then slowly die.

  5. Iamthe50percent says:

    JC Penney lost their way. They brought in a CEO from Apple. He tried to run it like Apple. The customers (housewives) left. Now it’s toast. The housewives aren’t coming back.

  6. theexpertisin says:

    I still don’t understand how Sears and KMart keep their doors open, let alone JCP.

    Perhaps using the magic of shifty accounting?

  7. JohnathanStein says:

    >>I still don’t understand how Sears and KMart keep their doors open, let alone JCP.
    >>Perhaps using the magic of shifty accounting?

    Um, same kind of magic as when KMart when bankrupt and bought Sears? Never did figure that one out…

  8. kenfortier says:

    Here’s a contrarian view: Ron Johnson’s plan was JCP’s ONLY chance for survival. Typically, the short-term view won out and he was fired before anyone could possibly know how it work out. Did any of you visit the stores? Initially, the print ad’s changed, but the stores looked the same. Then, just as the plan was evident in brick and mortar – the stores were just becoming attractive, different and better – the rug was pulled out, Johnson was let go, and the old insanity of returning to the tired old failed edifice and hopimg for a better result, was reinstituted. I believe Johnson’s concept had a chance if given time. It was obvious that the old way was DOA; it didn’t have a chance to survive before he came, and it is certain to die a painful death now. A cowardly board caved too soon.