J.C. Penney has finally switched completely to an electronic business as it closes down its traditional catalog business. This discontinuation has impacted revenue currently, but in the longer term it will make the company leaner and more profitable.
Chairman and CEO Myron “Mike” Ullman told investors at the Goldman Sachs Global Retailing Conference, “We’re not getting out of the print business...We’re transitioning from the catalog, which is essentially a static vehicle.”
J.C. Penny stock is already up 30% this month. The stock is positively reacting to a September investor conference where J.C. Penny announced improving results going forward.
To see his report Click Here
J. C. Penney Company, Inc. (JCPenney) is a holding company whose principal operating subsidiary is J. C. Penney Corporation, Inc. (JCP). The Company is a retailer, operating 1,108 JCPenney department stores in 49 states and Puerto Rico as of January 30, 2010. Its business consists of selling merchandise and services to consumers through its department stores and Direct (Internet/catalog) channels. JCPenney sells family apparel and footwear, accessories, fine and fashion jewelry, beauty products through Sephora inside JCPenney and home furnishings. In addition, its department stores provide with services, such as styling salon, optical, portrait photography and custom decorating.
No comments:
Post a Comment