JCP PR Ploy Backfires
With the stock's pre-market decline this morning, it appears investors have come to realize the release was little more than a PR ploy that apparently has backfired.
Reality is this: While the company didn't give post-Thanksgiving sales last year they were sandwiched between -26% and -31% quarterly comps.
Against that kind of performance, it isn't hard to show what appears to be a turnaround, especially with, as JCP put it in the press release, "compelling promotions."
More recently, performance overall has improved, so anything in the plus column should not have been a surprise.
The good news, I guess, is that the patient has a pulse. -- Written by Herb Greenberg Follow @herbgreenberg You can contact me at: firstname.lastname@example.org. http://i.thestreet.com/files/tsc/v2008/photos/all-pics/1204_jcp2_insidelarge.png