This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Black Friday Couldn't Save These 4 Retailers

J.C. Penney

J.C. Penney (JCP - Get Report) is blaming its bigger-than-expected same-store sales decline on its decision not to take part in the Black Friday midnight madness.

Instead, the department store opened its doors for holiday shoppers at 4 a.m., as it had in prior years, which the company said "adversely impacted Black Friday."

But J.C. Penney didn't just miss out on early holiday sales, as the company noted that "sales remained soft in-store throughout the holiday weekend." Management also said that the company had been trending better than last year until last weekend.

For the month, comparable sales fell 2% compared with the 1.6% decrease analysts predicted. Online sales tanked 6.9% for the month, but did not include sales from Black Friday through Cyber Monday. Those numbers will be included in December results.

J.C. Penney is betting on its new CEO Ron Johnson, the man credited with the success of Apple's (AAPL) retail stores. Since taking the post on Nov. 1, Johnson has started to revamp the management team, hiring two former Apple colleagues to fill the chief talent officer and chief operating officer roles.

The department store is attempting to revitalize its stale image, including brands like MNG by Mango and Sephora, and by purchasing the Liz Claiborne brand.

But it appears it is too late for Johnson to make any monumental changes for the holiday season.

The stock rose 0.6% to $32.63 in Thursday.

3 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
GPS $41.41 -0.46%
JCP $7.96 -6.40%
M $63.93 0.33%
KSS $74.29 0.66%
TGT $78.09 1.60%

Markets

DOW 18,242.93 +110.23 0.61%
S&P 500 2,110.74 +6.24 0.30%
NASDAQ 4,990.2350 +26.7080 0.54%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs