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JCPenney Posts Ugly Earnings

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  • Description

    FBN's Lauren Simonetti on how JCPenney's new strategy is impacting the company’s bottom line.

  • Duration 2:08
  • Date

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This transcript is automatically generated

Call -- -- making a reference there to miss it apple stores.

Which is kind of interesting when you think about that person who runs this next company that we're about to talk about and -- JC Penney when you think things cannot get worse for the retailer they somehow find a way to surprise investors.

Disseminate joins us with that.

Shares of the stock are rebounding ahead talk about a surprise news is bad but the stocks having a nice reaction.

OK let's take a look at JC Penney's second quarter earnings report card is its ugly posting a loss of a 147 million dollars revenue down 23% just over three billion dollars.

A lowest quarterly sales actually since 1989.

And so it's ugly to even say they no longer expect to meet employer profit talk targets.

And I didn't update those numbers either but if you look at that you can see that the share prices up today yeah.

Because the problems with the company or so we -- always this Ron Johnson strategy he's a guy like you said he -- the retail stores were not have anymore sales -- have -- every day essentially.

But the fact that they have enough cash to carry them through -- have about a billion dollars by the end of the year many investors are saying look maybe that's why.

That this could work for JC Penney and even Ron Johnson said it's not a marathon it's not a sprint it's a marathon sitting at the longevity to one.

You can or turn JC I mean apple and that's that's different companies but I didn't -- walk by the when the other way and and the other day and they're also NJ CP into the JC Penney and they're trying to invent well -- is a total new look.

And they're not selling ipads you know contracts SE pennies but many maybe who knows all the China -- -- their cash registers you guys here that might make about the Apple Store where you slide the death.

It but I mean -- and I guess people who align Yahoo! shopping JC Penney usery the older so they don't know how to use that technology but they don't have checking accounts by a -- funnel -- -- that's saved my grandmother has an iPad pop up -- -- had a safe we can squeeze more cliches into the show how many cliches that we did Ron Johnson time -- like.

You made a -- of the sprint not a man it's marathon not a sprint and year to make what's names a dream about the death benefit like I'm Diana were Apolo.

-- for -- it would have really gotten the same.

-- -- -- Bob thank you aren't we still.

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