Why J. C. Penney Company, Inc. Shareholders Have Nothing to Worry About
While J.C. Penney (NYSE: JCP) often gets lumped in with other struggling retailers, the chain has made major progress on its turnaround efforts.
That does not mean it's not struggling. The chain saw a slight drop in net sales in Q1, down year-over-year to $2.7 billion from $2.8 billion, with comparable-store sales falling 3.5%.
Those results, however, only tell a small piece of the story. J.C. Penney is not all the way back, but it has been making all the right moves to first ensure survival, and then deliver success. This won't be a short road, but it's one with a lot of milestones and checkpoints. The retailer isn't following a quick fix strategy or expecting any one single move to reverse its fortunes. Instead, it's following a model that has helped Best Buy (NYSE: BBY) go from endangered to successful. That process involves making lots of small tweaks, doubling down on what works, and looking for opportunities created by the struggles of other retailers.
Source: Fool.com
Best Buy Co. Stock
With 19 Buy predictions and only 2 Sell predictions the community sentiment for the stock is positive.
On the other hand, the target price of 84 € is below the current price of 84.55 € for Best Buy Co., so the potential is actually -0.65%.
