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Weinberg's Comments on JCP Cheap Ray Ban Sunglasses

Weinberg's Comments on JCP
Nicely,Cheap Ray Ban Wayfarer Sunglasses, I am not and in no way happen to be a JCP customer to become completely frank. I utilised to become lengthy the shares (back around 2009) when I believed the chain would recover along with the economy. Penney. I just never feel an everyday price tag tactic is guaranteed to function in the dept. shop sector, and absolutely don't feel earnings will bounce back quickly next year. In my opinion,Ray Ban Sunglasses Outlet, the firm will not hit its margin and earnings targets for at the very least 5 years. But I can see what is in front of my face,Ray Ban UK, plus the proof that Johnson miscalculated with his strategy modify is overwhelming.
Oct 29 09:26 AMCould you cite any sources to back up your arguments? I realize that JCP management claimed they would have $1 billion in money around the balance sheet by yearend, but they've missed at the very least two prominent targets so far this year ($1.59 GAAP EPS and $2.16 nonGAAP EPS). If JCP had normal levels of inventory presently, you'd anticipate it to be gone by the finish of Christmas even without having supplying 30% off clearance costs.
Oct 29 09:19 AMThanks for the comment. Penney wanted to arrange a saleleaseback vs. closing the store. The first choice would limit the amount of possible purchasers, although the second wouldn't make sense given the quantity of dollars JCP is spending on upgrading shop fixtures. It might be probable to free up some funds by way of actual estate dispositions,Ray Ban Sunglasses UK, but I do not feel there is enough of an chance there to fund the "transformation".
Oct 15 02:36 PMI need to also mention that whilst I feel Ron Johnson is definitely trying to repair (or transform, in case you like) JCP, he's also profited from manipulating the stock. He was granted nearly 1.7 million shares final November when he began as CEO, and sold half of those at $41.42 appropriate soon after he and Mike Kramer pumped up the stock at the analyst presentation in late January. I do not feel he deliberately lied regarding the company's expectations,Cheap Ray Ban, but he nonetheless profited from giving a wildly optimistic forecast.
Oct 15 11:55 AMI consider we're down to a difference in interpretation. The existing money level plus the credit line may deliver adequate liquidity as long as things do not get significantly worse. On the other hand, they present fairly small cushion in the event of any shock, specifically given the lack of underlying profitability in JCP.
Oct 15 11:48 AMI disagree. The cash and investments balance dropped by 65% in eighteen months amongst Jan. 11 and Jul. 12. I count on that money position to drop yet once more in the existing quarter, possibly as low as $500 million (from just a little much less than $900 million in July). The business may generate some constructive cash flow in Q4, but not enough to get as much as the yearend target of $1 billion. It would be vastly imprudent to fund longterm investments from a revolving credit facility.
Oct 12 03:49 PMHi spinetta: as far as I know none of the shops are leased departments. The company's presentations have already been pretty clear that the inventory will belong to JCP and the employees will all be employed by JCP. That said, the corporation is looking to get the vendors to pay a few of the expense of creating out their shops. For example, Joe Fresh wanted to enter the US marketplace, and will be able to do so rapidly and cheaply by opening shops inside jcp stores. Hope that answers your question.
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