Dallas, Texas 11/14/2013 (Financialstrend) – The year-over-year trends of J.C. Penney Company, Inc. (NYSE:JCP) is: in Q1 -16.6%, in Q2, -9.8% in August -9.8%, in September -4% and in October +0.9% and it indicates that the company is making rapid improvements. Projecting these trends further it is looking like that the company will reach double-digit positive for same store sales in a little while. Ultimately, the company’s year-over-year trends have been improved sequentially by over 7% last quarter.
Actually, in reality, the company’s sales in the fourth quarter of 2012 bottomed out, and it improved marginally at the beginning of the financial year 2013 and since then it has been essentially flat.
This present strong narrative gives the impression that; the company got rid of the Chief Executive Officer (CEO) who have caused its sales to drop and also got back the old CEO, who is ruin the damage, and the as a result of this changes the year-over-year trends of the company are improving rapidly. And at this time it seems to be quite early to look in the direction of a healthier future as there has been no improvement over the past 9 months including 7 months with the change of CEO.
Price update:
While trading on November 13, 2013, the shares of J.C. Penney Company, Inc. (NYSE:JCP)’s percentage change plunged +3.58% to close at $8.67 with the total traded volume of 32.02 million shares and average volume of 39.40 million. The 52 week low of the stock is $6.24 and 52 week high is $23.10.
Company brief:
In 49 states, the J.C. Penney Company, Inc. (NYSE:JCP) operates 1102 department stores and Puerto Rico as of January 28, 2012. The business of the company contains selling merchandise and services to customers through its department stores and through its Internet Website. The company is engaged in the sale of accessories, family apparel and footwear, beauty products, fine and fashion jewelry through home furnishings and Sephora inside jcpenney.
