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January 17, 2014
05:42 EDTHD, JCP, SHLD, WMT, EXPR, URBN, TGT, BBYE-commerce takes store sales, alters shopping habits, WSJ reports
As retailers faced a difficult holiday, other changes have been at work, reports the Wall Street Journal. A long-term change in shopper habits has reduced store traffic and shifted pricing power away from malls and big-box retailers. Strategic moves to offset consumers' attention on e-commerce is a challenge that brick-and-mortar retailers have battled with for years but they don't appear to be working. The changes could be permanent. Reference Link
News For BBY;URBN;WMT;TGT;EXPR;SHLD;JCP;HD From The Last 14 Days
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August 14, 2015
09:00 EDTJCPJ.C. Penney says 'needs work on the science of retail'
Says priorities include increasing private brand, increasing e-commerce, increasing revenue per customer. Says company "needs work on the science of retail." Says private brand margins "slightly above" national. Says expects to see benefits of omnichannel strategy in 2H.
08:46 EDTJCPJ.C. Penney sees 2H free cash flow positive
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08:45 EDTJCPJ.C. Penney says 'pleased' with 'strong' start to Q3
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08:42 EDTJCPJ.C. Penney sees improvement in 2H SSS results vs. 1H
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08:13 EDTJCPJ.C. Penney 'confident' in ability to achieve long-term financial targets
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08:12 EDTJCPJ.C. Penney sees FY15 free cash flow breakeven
Sees FY gross margin up 100-150bps. Sees FY15 interest expense approx. $415M, CapEx $250M-$300M.
08:10 EDTTGTTarget merchandising executive Jose Barra stepping down, WSJ reports
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07:55 EDTEXPRExpress initiated with a Hold at BB&T
07:52 EDTJCPJ.C. Penney backs FY15 SSS view of up 4%-5%
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07:49 EDTJCPJ.C. Penney reports Q2 EPS (45c), consensus (48c)
Reports Q2 revenue $2.88B, consensus $2.86B. Reports Q2 SSS up 4.1%.
07:34 EDTHDHome Depot August volatility elevated into Q2 and outlook
Home Depot August call option implied volatility is at 27, September is at 20; compared to its 52-week range of 13 to 27 suggesting large near term price movement into the expected release of Q2 results on Aug 18.
05:58 EDTJCPStocks with implied volatility above IV index mean; JCP HPQ
Stocks with implied volatility above IV index mean; J.C. Penney (JCP) 68, Hewlett-Packard (HPQ) 38 according to iVolatility.
August 13, 2015
14:56 EDTJCPNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include J.C. Penney (JCP), consensus (48c).
14:17 EDTJCPJ.C. Penney technical comments ahead of earnings news
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14:14 EDTJCPJ.C. Penney August weekly 8.5 straddle priced for 10.1% movement into Q2
12:38 EDTJCPEarnings Watch: Analyst says J.C. Penney's FY15 SSS view 'achievable'
J.C. Penney (JCP) is scheduled to report second quarter earnings before the market opens on Friday, August 14 with a conference call scheduled for 8:30 am ET. J.C. Penney operates about 1,100 retail stores and EXPECTATIONS: Analysts are looking for a loss per share of (48c) on revenue of $2.86B, according to First Call. The consensus range for EPS is (56c)-(38c) on revenue of $2.8B-$2.89B. LAST QUARTER: J.C. Penney reported first adjusted earnings per share of (57c) against estimates for (77c), on revenue of $2.86B against estimates for $2.87B. Comparable store sales were up 3.4%. The retailer narrowed its fiscal year 2015 SSS view to up 4%-5% from up 3%-5% and forecast FY15 gross margins to improve 100-150 basis points vs. its previous view of a 50-100 basis point improvement. On its Q1 earnings conference call, the company said that it expected to be free cash flow breakeven in FY15, and predicted FY15 capital expenditures of $250M-$300M and EBITDA of approximately $600M. NEWS: At the Piper Jaffray Consumer Conference on June 10, J.C. Penney said it is on track to meet its $1.2B EBITDA target by 2017 and said that it believes the company can continue to grow gross margin in a "healthy, sustainable way." Marvin Ellison, the company's Chief Executive Officer, said the company's private brands are "perceived as equal" to national brands, and noted that the company's previous strategy "obviously didn't go well," but that customers "never gave up on us." Ellison said that the resilience required to stabilize the business has been "significant." STREET RESEARCH: On the day after its last earnings report, Piper Jaffray and UBS raised their price targets on J.C. Penney, and Baird said the Q1 results were "encouraging." On July 22, Buckingham upgraded J.C. Penney to Buy from Neutral and raised its price target to $12 from $9. The firm believes comps in the second half of 2015 could accelerate and has increased confidence of the company's ability to hit its 2017 EBITDA target of $1.2B. The firm also believes FY15 SSS guidance of 4%-5% is "achievable." During the quarter, shares were also upgraded to Hold from Sell at Evercore. PRICE ACTION: Over the last three months, J.C. Penney shares are down 7%. In early afternoon trading ahead of Thursday's Q2 report, J.C. Penney is down over 2% to $8.10
09:05 EDTWMTWal-Mart August volatility elevated into Q2 and outlook
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08:43 EDTURBNUrban Outfitters August volatility elevated into Q2 and outlook
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06:00 EDTJCPStocks with implied volatility above IV index mean; WMB JCP
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05:56 EDTWMTStocks with implied volatility movement; WMT CF
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