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Guys we have earnings and let -- -- up to Robert grade JC Penney let's see how this rating retailer has done.
Probably well actually the shares dropping here there's two parts of this first of all Asians native discontinued their dividend.
Twenty cents per share -- that's a big hit right there off the top.
-- you look at the lost more than double what analysts were expecting on average anyway the loss of a quarter per share the average estimate from analysts.
Was a loss of eleven cents per share -- numbers well short of the mark -- three point 151000000003.
Point 41 billion work -- the expectation there.
I just trying to take quick look here you can also look at the gross margins.
Much smaller than they were a year ago about three percentage points lower than they were last year in the comparable quarter so tough times for them.
Ties you can say and -- -- going to say sales of profitability even tougher than anticipated during the first thirteen weeks but.
The transformation is ahead of schedule this coming from Ron Johnson the CEO took ever last fall I JC -- coming ever from apple.
So it just saying it's been tougher than expect to clearly that's being worn out here gonna take -- for the lucky aircraft at their expectation guys show.
Okay they're cutting that there ending the dividend at least for now we saw this during the recession quite a bit but.
How negative will this be for JC Penney in at least the next couple of.
Months what's gonna be tough because what's gonna happen is you're going to have a whole group of investors are gonna cycle out of -- -- -- their for the dividend.
And -- -- another group of investors going to have to come in which might be more your value players.
Tim let me ask is -- a reflection of the consumer was this a reflection of strategy that just isn't working at JC Penney.
You know you like to say it has to -- somewhat with the consumer.
But I think when you look at other sales that we're out like Macy's and Saks but they get -- -- really due -- strategy in this in this instance.
-- -- -- the biggest concern right now but you can make a case to the consumer.
Thus they strategy at this with this instance okay but same store sales to him declining in the first quarter eighteen point 9% so.
What Rob Johnson is doing of course it takes time and we don't wanna beat him up on something like this but it has had a couple of months -- has not.
Yeah and I think it's just a matter of you know consumer preferences as well.
But you know when you any time it went to our company to talk about cutting inventory cutting jobs.
You know there's there's trouble and I think it always is you know lesser value investor I think you can only bring back a little better value but you know.
And also the payback I think from the good weather we had in the first quarter as well also perhaps that's what coming into play and in the forecast as well.
Joseph deal like any of the retail stocks some of these some of these retailers faction has some pretty impressive numbers.
It -- somewhat lukewarm consumer environment deal like any such a particular the F -- is -- is a stock we won't for a long period of time.
Lee Jeans Wrangler jeans north based products.
I've written a low yield or.
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Good to see -- thank you so much -- --