Jim Cramer Says J.C. Penney May Boost its Dividend or Buy Back Stock in 2017
Jim Cramer says J.C. Penney is a 'return to capital' stock in 2017, and may boost its dividend or buy back stock.
J.C. Penney's (JCP) - Get Report move to add Sephora to its stores was a 'brilliant move' that's helping results, according to TheStreet's Jim Cramer. He also likes Penney's move into housewares. He says the retailer is going to be 'a return of capital story' in 2017, which may lead to the company boosting its dividend or buying back stock. J.C. Penney reported a quarterly loss that was less than expected and repeated its forecast for full-year same-store sales growth target of three to four percent.
