New York- J.C. Penny (JCP) one of America's leading and oldest retailer has seen its stock rebound in the month of September. However, is the stock possibly cheaper now, than in August despite a higher price. Andy Kibbens CEO of the Markets Are Open seems to think so he said "while a stock may have a more expensive price, the fundamentals may be so much better that the stock is actually cheaper."
On September 28th JCP had an investor presentation CEO of JCP Mike Ullman stated "The tops business was very strong for us as well as all of the most desirable private brands as well as younger brands we have introduced like Uproar in girls. I think the opportunity in the bottom's business we really stand for having the best denim assortment in the industry." Kibbens noted that denim is very popular, and that it is a huge positive to have the best assortment in the industry. Kibbens stated "this is huge news, denim is definitely the most important fabric to be number one in."
J.C. Penny is moving into the online retail business and hopes to generate more of its future sales from this business.
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