What Is J.C. Penney’s Real Estate Worth – And Does It Even Matter To Shareholders? (Seeking Alpha)
There has been a lot of talk about the value of JC Penney’s (JCP) real estate portfolio, including how much value the real estate represents per share, as if such amount is a floor for the stock price or a safety net in case of continued losses. As a shareholder, the question is – what is the value to you. First, what is the real estate even worth? The short answer is that we don’t know. What we do know is that they have 1,102 stores, of which 306 are owned, 123 are subject to ground leases and 673 are leased. In addition, they own a central office building and some warehouses and distribution facilities.
Activists step up to revamp C Suite at Microsoft to J.C. Penney (Livemint)
Activist investors from Carl Icahn to Daniel Loeb and Bill Ackman are ratcheting up their campaigns, increasingly targeting America’s biggest companies and seeking the ouster of chief executive officers (CEOs). Taking executive scalps has paid off for shareholders at companies such as Yahoo! Inc., Chesapeake Energy Corp. and Nutrisystem Inc., according to data compiled by Bloomberg. There have been flops, too, including Ackman’s CEO replacement efforts at J.C. Penney Company, Inc. (NYSE:JCP). Its stock has fallen 62%. Targeting management adds to decades-old routine activist demands for mergers, breakups or dividends to boost equity prices. Just three days ago, Microsoft Corporation (NASDAQ:MSFT) CEO Steve Ballmer said he’s retiring within a year—four months after activist fund manager ValueAct Capital Partners LP’s Jeffrey Ubben disclosed a $1.9 billion Microsoft stake.
J.C. Penney Company, Inc. (NYSE:JCP) stocks are trading up (FinancialsTrend)
In the previous week, J.C. Penney Company, Inc. (NYSE:JCP) had reported losses at $1.17 per share on revenues generated at $2.66 billion for the recent quarter, while the analyst expectations were at losses of $1.06 per share on revenues at $2.76 billion. Despite such lower than expected results reported for the quarter, investors had stayed optimistic on this stock primarily owing to the stronger sales reported at the stores of the retail chain operator. There is one further reason to prove the confidence of investors on this stock – the recent full swing of back to school season.
J.C. Penney Company, Inc. (JCP), Sears Holdings Corp (SHLD), Groupon Inc (GRPN): Who Wins? (Insider Monkey)
J.C. Penney Company, Inc. (NYSE:JCP) is at an uncertain time in its history, with many resigned to the fact that the retailer is simply a leftover remnant of a bygone era. The return of retired CEO Myron (Mike) Ullman as interim chief brought new hope to the company, undoing the damage done by Ron Johnson’s attempt to give the company a younger image. For awhile, it looked hopeful, thanks to the return of the discounts customers love. But the biggest problem for J.C. Penney is its failure to improve. The company blamed its disappointing first quarter on ongoing improvements to its home departments throughout its chain, but the retailer faces steep competition. That brings the question — can a CEO replacement single-handedly repair J.C. Penney Company, Inc. (NYSE:JCP)’s problems?
Women attack security officer at JCPenney (WAFF)
Police are on the hunt for two women who stole merchandise from the JCPenney store at Madison Square Mall Sunday afternoon. Police said the loss prevention officer for the store tried to stop a woman observed stealing, and she and another woman attacked the officer. Both women ran from the store and took off in a blue sedan. If you have any information about the crime, call Huntsville Police Department.