Disclosure: Long $JCP
JC Penney: No More Monthly Sales Announcements? -- Barron's Blog
By Ben Levisohn
According to Streetinsider.com, Bloomberg is reporting that JC Penney (
JCP) will no longer provide monthly sales estimates.
Shares of JC Penney, however, have not reacted to the news--they're up
3.3% at $7.52 at 11:50 a.m., even as Macy's ( M) has fallen 1.7% to $56.86,
Nordstrom ( JWN) has dropped 1% to $60.84, Dillard's ( DDS) has declined 1.9%
to $90.81 and Kohl's ( KSS) is off 0.9% at $55.67.
Last week, JC Penney's shares surge 29% after the beaten-down retailer
reported better-than-forecast earnings.
More to come.