What did J.C. Penney do right?
Shares of the retailer were up Wednesday on the promise for a better tomorrow -- but is that enough for investors to get in now?
Motley Fool Analyst Matt Argersinger thinks most of the stock’s upside is due to a promise from CEO Mike Ullman that earnings will continue to get better, and that the holiday season looks good for the retailer. J.C. Penney has been in turnaround mode for quite a while now, which is why the company’s bottom line isn’t showing the same strength its top line has.
Despite the promise of a better tomorrow, Matt isn’t fully sold on J.C. Penney just yet, and will be waiting and watching to see how the company does after the holidays.
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JCP will follow the Sears model from here forward.
nothing there folks. move along
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The solid report comes a month after the retailer closed all of its Canadian operations.
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