Anyway, Abercrombie, which shares space at the mall with names like J.C. Penney (NYSE: JCP), American Eagle Outfitters (NYSE: AEO), Gap (NYSE: GPS), and Aeropostale (NYSE: ARO), saw its top line decline by 24%. Same-store sales for the company's entire operations dropped 30%. Same-store sales at the Abercrombie & Fitch brand itself plunged 26%. Earnings per share took a dive of more than 50% to $0.31. It should be noted, however, that there is a pending non-cash charge that will be added to these results at a later time.

Continue reading Abercrombie & Fitch sees huge sales decline in Q1

Abercrombie & Fitch sees huge sales decline in Q1 originally appeared on BloggingStocks on Fri, 15 May 2009 14:40:00 EST. Please see our terms for use of feeds.

Analyst upgrades:

• JP Morgan upgraded J.C. Penney (NYSE: JCP) to Neutral from Underweight based on lower input costs, stabilization in home, lower markdown dollars, and valuation.
• Oppenheimer upgraded Novellus (NASDAQ: NVLS) to Perform from Underperform as it believes Novellus' market share has stabilized and that the company is a potential acquisition target. The firm raised its price target to $20 from $9.
• Bernstein upgraded ConAgra (NYSE: CAG) to Market Perform from Underperform citing strength in grains and moderating input costs.
• ConocoPhillips (NYSE: COP) was raised to Buy from Neutral at Goldman.
• China Housing (NASDAQ: CHLN) was upgraded to Buy from Hold at Roth Capital.

Continue reading Analyst upgrades, downgrades and initiations: JCP, NVLS, CAG, RJF, PCG, STP, AMZN, MS, MSFT

Analyst upgrades, downgrades and initiations: JCP, NVLS, CAG, RJF, PCG, STP, AMZN, MS, MSFT originally appeared on BloggingStocks on Fri, 27 Mar 2009 10:00:00 EST. Please see our terms for use of feeds.

DSW (NYSE: DSW) issued a pretty short press release detailing its Q4 earnings on Wednesday. Can't blame management about that. There really wasn't much to say, other than the data did not look appealing.

The footwear business reported a loss of 17 cents per share. In the previous year's Q4, there was a profit of 2 cents per share (I'm sure DSW is looking on that time period with bitter nostalgia). Unfortunately, the market was looking for a loss of only 12 cents per share according to this.

Continue reading DSW misses in fourth quarter

DSW misses in fourth quarter originally appeared on BloggingStocks on Thu, 26 Mar 2009 08:00:00 EST. Please see our terms for use of feeds.

J.C. Penney (NYSE: JCP) closed at $31.37 Friday. JCP is scheduled to report September sales data on October 8. JCP October option implied volatility of 83 is above its 26-week average of 54 according to Track Data, suggesting larger price movement.

Kohl's (NYSE: KSS) closed at $41.47 Friday. KSS is expected to report September sales data on October 8. KSS over all option implied volatility of 65 is above its 26-week average of 48 according to Track Data, suggesting larger price movement.

Dillard (NYSE: DDS) closed at $11.06 Friday. DDS is expected to report September sales data on October 8. DDS overall option implied volatility of 108 is above its 26-week average of 73 according to Track Data, indicating larger price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Option Update: J.C. Penney, Kohl's, Dillard volatility elevated into sales data originally appeared on BloggingStocks on Mon, 06 Oct 2008 08:28:00 EST. Please see our terms for use of feeds.

Kohl's (NYSE: KSS) closed at $51.04 Tuesday. KSS overall option implied volatility of 46 is near its 26-week average according to Track Data, suggesting non-directional price movement.

Dillard (NYSE: DDS) closed at $13.05 Tuesday. DDS September option implied volatility of 80 is above its 26-week average of 65, indicating larger price movement.

Macy's (NYSE: M) closed at $21.62 Tuesday. M overall option implied volatility of 55 is near its 26-week average according to Track Data, suggesting non-directional price movement.

J.C. Penney (NYSE: JCP) closed at $40.63 Tuesday. JCP comparable store sales decreased 4.9% for the four-week period ended August 30, 2008, in-line with company guidance. JCP September option implied volatility of 50 is near its 26-week average, suggesting non-directional price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Option Update: Retailers' volatility flat into Back to School sales (KSS, DDS, M, JCP) originally appeared on BloggingStocks on Wed, 03 Sep 2008 09:25:00 EST. Please see our terms for use of feeds.

J.C. Penney makes a move into dorm furniture originally appeared on BloggingStocks on Tue, 08 Jul 2008 10:50:00 EST. Please see our terms for use of feeds.

Continue reading Second half may bring a recovery for JCP, KSS

Second half may bring a recovery for JCP, KSS originally appeared on BloggingStocks on Mon, 12 May 2008 15:33:00 EST. Please see our terms for use of feeds.

Penney (J.C.) (NYSE: JCP) is a little timid right now in the face of the recession. According to this AP piece, CEO Mike Ullman, speaking at an analysts' meeting, is reducing the number of new locations he plans to debut this year -- look for 36 instead of 50. The CEO said that he doesn't like the unpredictability that currently exists in the macroeconomic world.

He's right to be careful. Consumer confidence might head lower from here. And considering that J.C. Penney reported terrible comps for March -- the retailer saw a decline of 12.3% -- now is probably not the time to be in expansion mode. Instead, management needs to figure out how best to connect with the mall traffic. This will necessitate new marketing campaigns that aggressively promote the brand and the shopping experience, and differentiate the chain from competitors such as Sears (NASDAQ: SHLD) and Macy's (NYSE: M). Retailers, in my opinion, often underestimate the value of investing in creative campaigns that focus more on the experience a consumer receives when he or she is in the store rather than the perceived value that a consumer has regarding the inventory portfolio.

In terms of investment potential, J.C. Penney is not a retail company that I'm seriously looking at right now. I'll wait to hear more financial updates from management; it isn't expensive at the moment, and it is certainly eons away from its 52-week high, but I just don't have a good feel for its growth potential yet. Interestingly enough, I wrote about American Eagle Outfitters (NYSE: AEO) the other day, another cheap retail stock; both J.C. Penney and American Eagle Outfitters might be considered similar stories in terms of valuation, but for me, I find American Eagle to be the more attractive candidate from a brand viewpoint and in terms of bouncing back big when the economy improves (that's my current outlook, at least). We'll have to wait and see how this mall story evolves.

Disclosure: I don't own shares in any of the companies mentioned; positions can change at any time.

Continue reading J.C. Penney is scared of the economy

J.C. Penney is scared of the economy originally appeared on BloggingStocks on Wed, 16 Apr 2008 08:40:00 EST. Please see our terms for use of feeds.

Continue reading J.C. Penney (JCP) tumbles on pessimistic outlook

J.C. Penney (JCP) tumbles on pessimistic outlook originally appeared on BloggingStocks on Fri, 28 Mar 2008 10:10:00 EST. Please see our terms for use of feeds.

J.C. Penney (NYSE: JCP) is recently trading at $35.34 in pre-open trading, below its close of $40.52.

JCP revised Q1 sales and earning outlook lower.

Myron Ullman, JCP Chairman and CEO, says: "Consumer confidence is at a multi-year low."

JCP April option implied volatility of 54 is above its 26-week average of 49 according to Track Data, suggesting larger price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Option Update: J.C. Penney volatility elevated prior to lower Q1 sales and earnings outlook originally appeared on BloggingStocks on Fri, 28 Mar 2008 09:20:00 EST. Please see our terms for use of feeds.

Continue reading Sears (SHLD) quarterly profit plunges 47.5% on weak sales

Sears (SHLD) quarterly profit plunges 47.5% on weak sales originally appeared on BloggingStocks on Thu, 28 Feb 2008 11:34:00 EST. Please see our terms for use of feeds.

Continue reading J.C. Penney (JCP) profit slips during fourth-quarter but beats estimates

J.C. Penney (JCP) profit slips during fourth-quarter but beats estimates originally appeared on BloggingStocks on Thu, 21 Feb 2008 11:30:00 EST. Please see our terms for use of feeds.

The housing index just can't rally for a minute. The thing's amazing. The stress of the system is so clearly manifested by this that I have to wonder if the Fed wants this index lower.

The fact that the Fed's speakers never mention things like this index and the homebuilders makes me wonder if this group is actually what the Fed wants to put out of business. I wonder if the Fed thinks that Pulte (NYSE: PHM) (Cramer's Take) and Horton (NYSE: DHI) (Cramer's Take) and Lennar (NYSE: LEN) (Cramer's Take) and Standard Pacific (NYSE: SPF) (Cramer's Take) and Centex (NYSE: CTX) (Cramer's Take) need to go bankrupt before the Fed can ease any more.

Many of these firms lent money recklessly. Are the Fed heads thinking these companies need to pay like the New Centurys and the NovaStars (NYSE: NFI) (Cramer's Take) did? (Are the feds, by the way, thinking that this GMAC company has to go because that was a huge provider of crummy mortgages?)

Continue reading Cramer on BloggingStocks: Belly-up builder would tip the scales

Cramer on BloggingStocks: Belly-up builder would tip the scales originally appeared on BloggingStocks on Mon, 19 Nov 2007 08:44:00 EST. Please see our terms for use of feeds.

Continue reading StockWatch: Between the Bells with Georges Yared

StockWatch: Between the Bells with Georges Yared originally appeared on BloggingStocks on Fri, 16 Nov 2007 15:25:00 EST. Please see our terms for use of feeds.

Macy's (NYSE: M) is expected to report Q3 EPS of 8 cents on 11/14 according to Thomson First Call. M operates 850 stores in 45 states. M overall option implied volatility of 54 is above its 26-week average of 40 according to Track Data, suggesting larger risk.

J.C. Penney (NYSE: JCP) is expected to report 3Q EPS of $1.02 cents on November 15 according to Thomson First Call. JCP closed at $46.31. Alex Brown lowered its price target on JCP to $83 from $55 on November 12. JCP overall option implied volatility of 56 is above its 26-week average of 38 according to Track Data, suggesting larger price risks.

Daily options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

Option update: Macy's (M) and J.C. Penney (JCP) volatility suggests risk into holidays originally appeared on BloggingStocks on Tue, 13 Nov 2007 11:23:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• A WSJ.com survey found that economists are more optimistic about the economy and see a lessening chance of a recession, the Wall Street Journal reported.
• Warren Buffett's Berkshire Hathaway Inc (NYSE: BRK.A) sold its shares in the China-controlled PetroChina Company Limited (NYSE: PTR), according to the Wall Street Journal's "Heard on the Street" column, leading many investors uncertain about China's stock valuations.
• The WSJ also reported that a jury in Nevada awarded $134.5M to three women who said hormone therapy drugs manufactured by Wyeth (NYSE: WYE), including Prempro and Premarin, caused their breast cancer.

• The SEC began an inquiry into oversight of the New York State pension fund. The SEC is trying to find out if civil violations of federal securities laws were committed, the New York Times reported.
• Over 90,000 children's products imported by J.C. Penny Company (NYSE: JCP) from China, Taiwan and Vietnam, were recalled because of dangerous levels of lead, the Associated Press reported.

• Google Inc (NASDAQ: GOOG) said on its blog that it has improved its service for the Shanghai and Shenzhen stock exchanges by providing pricing data in real time and hopes the SEC will approve their "Last Sale" proposal, which would allow users free and unlimited access to real-time last sale prices for the NYSE and Nasdaq stocks.

Newspaper wrap-up: Economists see a lessening chance of recession originally appeared on BloggingStocks on Fri, 12 Oct 2007 08:45:00 EST. Please see our terms for use of feeds.

• Sysco Corporation (NYSE: SYY) to report Q4 earnings; conference call at 9:45am.
• PDUFA date for Indevus Pharmaceuticals Inc's (NASDAQ: IDEV) Sanctura XR, an overactive bladder drug.

• The Home Depot Inc (NYSE: HD) to report Q2 earnings; conference call at 9am. Home Depot is expected to post substantial Q2 revenue/EPS declines, but equally important will be the company's comments: with the housing sector expected to remain sluggish through at least late 2007, analysts will evaluate whether HD can overcome that headwind with a new focus on customer service, demographic trends that suggest increased home repair/remodeling, and 20-year high homeownership rates that suggest steady house goods demand.
• District Court California: Broadcom Corporation (NASDAQ: BRCM) to request an injunction related to Qualcom Incorporated's (Nasdaq: QCOM) infringement of 3 Broadcom cellular baseband patents.

• Macy's Inc (NYSE: M) to report Q2 earnings; conference call at 10:30am.
• PDUFA date for GPC Biotech's (NASDAQ: GPCB) Satraplatin for treatment of hormone refractory prostate cancer.

• JC Penney Co Inc (NYSE: JCP) to report Q2 earnings; conference call at 9:30am.
• Hewlett Packard Company (NYSE: HPQ) to report Q3 earnings; conference call at 5pm. Analysts will evaluate HPQ's ability to maintain momentum in its innovative imaging/printing group, which is expected to help HPQ post solid Q3 revenue gains.

• Quantum Corporation (NYSE: QTM) to hold annual shareholder meeting at 12pm.
• PDUFA Date for Endo Pharmaceuticals Holdings Inc's (NASDAQ: ENDP) and Vernalis PLC's (OTC: VNLSY) Frova, for menstrually-related migraine headaches.

Market highlights for next week: Home Depot (HD), Macy's (M) to report originally appeared on BloggingStocks on Fri, 10 Aug 2007 16:15:00 EST. Please see our terms for use of feeds.

JC Penney same-store sales in December rise 2.2% originally appeared on BloggingStocks on Fri, 05 Jan 2007 15:10:00 EST. Please see our terms for use of feeds.

J.C. Penney fires COO: What would Cramer do? originally appeared on BloggingStocks on Thu, 28 Dec 2006 15:10:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY: Notable upgrades today include Target (TGT) and Pfizer (PFE).

• Target Corp. (NYSE:TGT) was added to Goldman Sachs America's Conviction Buy List, citing expectations for strong holiday momentum to continue.
• Pfizer Inc. (NYSE:PFE) was upgraded to Neutral from Underperform at Cowen, based on additional evidence and conviction in cost savings, and a realistic and determined management team.

OTHER UPGRADES:

• J.C. Penney (NYSE:JCP) was added to Citigroup's Recommended List; The retailer holds a Buy rating with the company.
• Boeing Co. (NYSE:BA) was added to Merrill Lynch's Focus List with a $105 target, citing a higher delivery forecast for their commercial planes unit.
• Anheuser-Busch Inc. (NYSE:BUD) was upgraded to Neutral from Reduce at UBS, citing the company's long-term potential with InBev brands.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst upgrades 12-1-06: TGT, PFE, JCP, BA, BUD originally appeared on BloggingStocks on Fri, 01 Dec 2006 10:45:00 EST. Please see our terms for use of feeds.