J.C. Penney stock is certainly a risky investment. The company has a weak balance sheet, EPS is near zero, and free cash flow production has been erratic.
Is JCPenney the best retail stock available?
JCPenney may very well be the best retail stock available, especially rebounding from completely missing on its projected earnings by breaking even for the 2014 4 th quarter. Before declaring this ...
Is JCPenney stock a good investment?
Value has a $2,500 minimum initial investment ... Penney, the troubled department-store company, figuring that the brand name and good locations in malls across America justified making the stock ...
Is JCPenney currently trading stock?
JCPenney is now owned by Simon Property Group and Brookfield Asset Management; as a result, the new JCPenney is a private company. It no longer trades on any stock exchange and reports only to its ...
Is JCP stock a good investment opportunity?
The news, however, is not good for investors who own shares of the company's stock. And while the company being rescued from bankruptcy helps a lot of people, that's not a reason for anyone to buy shares of J.C. Penney.
Can you still buy JCPenney stock?
JCPenney is now owned by Simon Property Group and Brookfield Asset Management; as a result, the new JCPenney is a private company. It no longer trades on any stock exchange and reports only to its new owners.
What happened to my JCP stock?
Pursuant to the Plan of Reorganization, the common stock of Old COPPER Company, Inc. (f/k/a J. C. Penney Company, Inc.) was cancelled on the Effective Date. The common stock (JCPNQ/CPPRQ) is no longer in existence and is not traded or quoted on any market or exchange.
What is JCPenney stock symbol?
J.C. Penney Company Inc (JCPNQ)
What happened to Cpprq?
J.C Penney Company, Inc. underwent a name and symbol change to Old COPPER Company, Inc. (CPPRQ) on January 8, 2021 (See OCC Information Memo #48133). The Plan became effective on February 1, 2021, and CPPRQ shares were canceled.
What is JCPenney stock worth today?
JCP Price/Volume StatsCurrent price$0.1852-week highPrev. close$0.2452-week lowDay low$0.17VolumeDay high$0.24Avg. volume50-day MA$0.32Dividend yield1 more row
Does Shaq own JCPenney?
O'Neal is the second-largest individual shareholder of Authentic Brands Group, the company behind dozens of brand and retailer acquisitions, including Forever 21, Barneys New York, JCPenney and most recently, Reebok.
Is JCPenney going out of business?
The retailer announced in May 2020 it planned to close almost 30% of its 846 stores as part of a restructuring under bankruptcy protection. Since then, 156 stores have permanently closed. A federal bankruptcy court in November approved J.C. Penney's purchase by Brookfield Asset Management Inc. and Simon Property Group.
Can you still buy Sears stock?
Trading in Sears Holdings. The amended SEC 15c2-11 rule became effective on September 28 that no longer allows market makers to make markets in securities that do not file public financial information. So no more trading in Sears Holding stock via market makers.
Will JCPenney survive?
Some felt that the firm was too crippled and damaged to survive. The retailer even abandoned its Plano, Texas corporate campus. But the company has proven those skeptics wrong. JCPenney is still open.
Who owns JCPenney now?
Simon Property GroupAlso back is further change, however, at least if it's true that J.C. Penney's owners — Simon Property Group and Brookfield Asset Management — have bid nearly $9 billion for rival Kohl's.
Who bought JCPenney?
Simon Property Group and Brookfield Asset Management acquired JCPenney after the 118-year-old retailer filed for Chapter 11 bankruptcy in May 2020.
How many JCPenney stores are left?
We have over 650 department stores across the United States, and in each one you'll find savings on a wide selection of everyday essential for your whole family: clothing, shoes, jewelry, accessories, and more.
About J. C. Penney Company Inc
J. C. Penney Company, Inc., through its subsidiary, J. C. Penney Corporation, Inc., sells merchandise through department stores in the United States.
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Weather undermined first-quarter sales
Unseasonably cold weather had a significant negative impact on J.C. Penney's sales performance last quarter, particularly in the first half of April. In fact, comp sales plunged by double-digits in each of the first two weeks of the April retail month. Management estimates that J.C.
New categories also have seasonality
In the past two years or so, J.C. Penney has expanded its merchandise assortment in order to reduce its weather sensitivity. The company's return to the appliance business has drawn the most attention. This move to capture market share from Sears Holdings ( NASDAQ:SHLDQ) has been very effective so far. That said, J.C.
The benefit of competitors' store closures is coming
Another reason I expect J.C. Penney stock to bounce back is that the company will start to benefit from competitors' store closures soon. Bon-Ton and Toys R Us are both in the midst of liquidation sales and will be gone by the end of the second quarter.
This Kind of Dabbling is a Sign of Boredom
Unless you’re looking for a capital loss to offset capital gains, buying stock in a bankrupt company is almost always a losing proposition.
The Bottom Line on JCPenney
Cramer has spoke out against the stupidity of investors buying bankrupt stocks, and I applaud him for doing so. I always like to say that investors have options. Buying bankrupt companies shouldn’t be one of them.
What happens if JCPenney goes bankrupt?
If the court doesn’t help JCPenney and its lenders come to an agreeable plan to reorganize the company, it may devolve into a Chapter 7 or 13 bankruptcy, which would force it to cease all operations and liquidate all remaining assets.
How much debt does JCPenney have?
Industry reports indicate that JCPenney has $3.7 billion in debt and its store properties — of which about 830 are still open — are only worth up to $1.4 billion.
What is the debt to equity ratio of Macy's?
Macy’s (M) and Kohl’s (KSS), for example, have debt-to-equity ratios of 1.16 and 1.14, respectively. But looking at other retailers, there are several with high debt-to-equity ratios, which can signify greater risk.
When did JCP stock peak?
It’s been a long descent for the 118-year-old brand, as it never recovered from the Great Recession. The JCP stock price peaked in February 2007 just above $85, but lost 82% of its value in the two years that followed.
Is JCPenney going bankrupt?
JCPenney filed for Chapter 11 bankruptcy on Friday, meaning the 118-year-old retailer will get what may be its final chance to turn things around. Not much has changed for investors who hold JCP stock, though, because the news wasn’t a surprise and the stock price had already withered to mere pennies. Investors can still trade JCP — it’s currently ...
When is JCPenney's next deadline?
Judge Isgur suggested that JCPenney request a short continuance of the October 16, 2020 deadline set forth in Docket No. 1551 to October 19,2020 to allow for the mediation to successfully conclude. Now this is getting interesting-still means no recovery for investors-BTW.
When is the next JCPenney status conference?
The intent is to bring those discussions to conclusion in advance of the October 20, 2020 status conference set by this Court. In addition, on October 14, 2020, JC Penney received a competing proposal from the minority group of first lien lenders as previewed at the scheduling conference on October 7, 2020.
When is the JCP docket 1574?
NEWS NEWS NEWS JCP docket 1574 The Court’s recent scheduling order [Docket. No. 1551] includes an October 16, 2020 deadline for the filing of a motion requesting entry of an order approving entry into an asset purchase agreement, together with initial versions of the chapter 11 plan and disclosure statement.
Is the $1.5 billion cash from inventory?
Some of the $1.5 billion cash may be from inventory but I think The DIP is paid first if not paid in the sale. If DIP and administrative expenses are paid by the cash, then there are no major debts with priority over unencumbered assets. In that case the unencumbered assets are shared.
What is the difference between JCP and Macy's?
Penney (NYSE:JCP) and Macy’s had something in common: they were serving the middle class working American consumer with quality merchandise at reasonable prices. Macy’s catered more to the high-end of this market, while J.C. Penney catered more to the lower end.
Is JCP Bankrupt?
JCP has been on the verge of bankruptcy for some time now. Much of the blame has been given to senior management and even the hedge fund manager Bill Ackman, who owned a significant part, gave up on it.
Did JCPenney change its product line?
Nonetheless, J.C Penney did away with this strategy after Ron Johnson assumed the helm of the company, modeling the company’s stores after those of Apple AAPL -0.07%. At the same time, J.C. Penney changed its product line to cater to upper scale consumers rather than the middle class consumer.
