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JC Penney stock plummets
after credit squeeze report

CNBC, by Staff

Original Article

Posted By:NorthernDog, 7/31/2013 4:50:18 PM

Commercial lender CIT has stopped supporting deliveries to struggling retailer JC Penney´s stores from smaller manufacturers, according to a report from the New York Post, citing a source close to the situation. Following the report, JC Penney stock plummeted shortly before the close to end 10 percent lower. While the Post reported it couldn´t confirm the reason for the credit problem, it said insiders speculated the company´s financials made the company skittish. "CIT met with (Penney officials) yesterday," according to one source close to the situation reported the Post .

Comments:
Down 10% down. Not a good sign.

      


Post Reply  

Reply 1 - Posted by: Charactercounts, 7/31/2013 5:14:51 PM     (No. 9451827)

The last time I was in a JC Penney, it had be redone to the "Apple" look. Lots of blinding white space, not much merchandise.



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Reply 2 - Posted by: Blue hen1, 7/31/2013 5:40:26 PM     (No. 9451865)

Toast

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R-G1
  
R-VAR_AD


 
Reply 3 - Posted by: sherlock, 7/31/2013 5:55:47 PM     (No. 9451878)

Paula Deen! plus promoting to much gayness

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Reply 4 - Posted by: trapper, 7/31/2013 6:05:25 PM     (No. 9451889)

One man wrecked that company, and the board let him do it.

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Reply 5 - Posted by: antiquegolf, 7/31/2013 6:09:47 PM     (No. 9451898)

Poster 2, I hope you are wrong. I´d hate to see JC Penney go down.

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Reply 6 - Posted by: bohallx, 7/31/2013 6:35:14 PM     (No. 9451931)

JC Penney returned to the merchandising trick popular in the early part of the 20th century ~ neat stacks of identical products folded and on tables.

They added merchandise displays that all had a gay theme, or a reference to hind quarters.

Kinda´ turned off women. Turned off guys. Seemed that our local store, which used to attract Barney Frank and a couple of other light loafered Representatives, was also turning off gays!

The guy in charge was a weird dude.

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Reply 7 - Posted by: nwcudagal, 7/31/2013 8:12:39 PM     (No. 9452082)

I live in a rural community with no department stores so JC Penney was how I got everything in my house for almost 30 years. Linens, rugs, clothes, shoes, cookware; you name it. When they started to promote an agenda and quit putting items on sale, I was done. If I´m in a mall, I will buy Sephora, but no JCP. I still get the so-called catalogs and they immediately go in the trash.

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Reply 8 - Posted by: Violet, 8/1/2013 3:00:51 AM     (No. 9452412)

If you care anything at all about keeping JC Penney in your community as a store and employer, they desperately need your business. They are trying to recover from a year of Ron Johnson running the business into the ground.

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Reply 9 - Posted by: Rabidrabbit1, 8/1/2013 3:08:51 AM     (No. 9452413)

Give the customers what they want and they will beat a path to your door. Otherwise, you go the way of J.C Penneys.

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