J.C. Penney Company, Inc. (JCP) Latest Reports: Back-to-School Ad Criticized, Bill Ackman Ready to Sell Stake, Ninth Quarter Sales & More

Editor’s Note: J.C. Penney Company, Inc. (NYSE:JCP)

Parents furious over J.C. Penney back-to-school ad (ksl.com)
A new ad has many parents vowing to steer clear of J.C. Penney for their back-to-school shopping. It’s not about the clothes, it’s about the message it sends — kids who don’t dress the right way won’t have any friends. At least that’s what some parents see when they watch it. The ad, which popped up on television screens earlier this summer, features a mother talking about getting her kids ready to go back to school. She explains why J.C. Penney Company, Inc. (NYSE:JCP) is the only place for her. “It’s got all the other brands they have to have,” she says. “I’ve been told that this stuff can make or break an entire year.”

Bill Ackman in front of PerishiAckman gets ready to sell J.C. Penney stake (Bayoubuzz)
Earlier this week he quit the retailer’s board of directors. Ackman, who is founder of hedge fund Pershing Square Capital Management, reached an agreement with J.C. Penney Company, Inc. (NYSE:JCP) that allows him to register to sell the company’s stock in up to four separate blocks. The agreement, filed as a document with the Securities and Exchanged Commission, said that Ackman and his Pershing Square fund own at least 5% of J.C. Penney’s stock. That stock is losing value rapidly, having plunged more than 30% so far this year. The company has been fighting for survival and trying to raise money through investment firm The Blackstone Group. Ackman quit the board on Tuesday, finally conceding defeat in his long-running bid to replace Myron Ullman as interim chief executive officer.

With Everything Going Wrong at JCPenney (JCP), is Now the Time to Buy? (StreetInsider.com)
Despite reports earlier this week that comparable-store sales appear to be improving this month, is it time to jump back into JCPenney? The answer might actually be “yes.” J.C. Penney Company, Inc. (NYSE:JCP) is slated to report Q213 results on August 20th. Analysts are looking for a drop in sales for the ninth-straight quarter, but most see the second-half of 2013 improving over the first six-months of the year. For the recent quarter, JCPenney’s loss should widen from 67 cents last year to $1.20 per share. Sales will drop about 8 percent to $2.78 billion.

A Look Back at Ackman & JCP (TheStreet)

J.C. Penney Heads for Ninth Quarter of Plunging Sales (Businessweek)
J.C. Penney Company, Inc. (NYSE:JCP) countered criticism from investor Bill Ackman last week by saying it’s focused on stabilizing the business and winning back customers. Results next week will show what little progress has been made. Analysts predict a wider second-quarter loss and the ninth straight sales drop when J.C. Penney reports on Aug. 20, though improvements are projected for the second half of the fiscal year. The quarter was the first entirely under Chief Executive Officer Mike Ullman, who returned in April to undo the failed strategy put in place by former CEO Ron Johnson.

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The World’s Most Famous Circuses

Best Hair Stylists

Most Popular NASCAR Drivers

The Best Romance Movies of all Time

The Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Best Travel Destinations in Australia

World’s Most Expensive Musical Instruments

World’s Most Famous Animals

Most Expensive Cakes in the World

Most Expensive Kosher Champagne in the World

Most Expensive Kosher Wine in the World

The Most Surprisingly Dark Fairy Tales

Most Popular Travel Destinations in Asia

The 10 Most Expensive Dresses Ever Worn to the Oscars

World’s Most Visited Art Museums

Best Countries for Photographers to Work in

Best Paid Jobs in the Film Industry

The Most Renowned Recovered Paintings Ever

Child Stars That Turned out Just Fine

Books That Were Banned in the Past Century

World’s Richest Dancers

Best Remedies against Bad Breath

Foods That Improve Your Skin Texture

Best-Selling Children’s Books of all Time

Foods That Boost Your Libido

Best-Selling Books of all Time

The Most Expensive Academy Awards Jewelry in History

Most Expensive Japanese Restaurant In New York City

The Best B-Boy Movies

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!