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Stock Market & Financial Investment News

News Breaks
November 13, 2012
10:48 EDTJCPFitch downgrades J.C. Penney's IDR to B, outlook negative
Fitch Ratings has downgraded its Issuer Default Ratings on J.C. Penney Co., Inc. and J.C. Penney Corporation, Inc. to 'B' from 'BB-'. The Rating Outlook is Negative. The rating downgrades reflect dismal third quarter performance, where sales declines continued to accelerate, and Fitch's concern that top line will likely get worse during the critical holiday season when promotional events tend to pick up to drive traffic. For 2013, there is a lack of visibility in terms of the company's ability to stabilize its core business, which currently accounts for 90% of its footprint. It remains unclear whether the new shops and merchandise offering can offset any continued declines in the existing business in second half 2013.
News For JCP From The Last 14 Days
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January 21, 2015
12:12 EDTJCPBest Buy, home retailers seen getting biggest bump from Sears demise
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January 20, 2015
06:22 EDTJCPJ.C. Penney to bring back 120-page catalog, WSJ reports
J.C. Penney has decided to resurrect its catalog in the form of a 120-page book that will mark the first catalog the chain has sent out since 2010, The Wall Street Journal reports. The retailer, which quit the catalog amid a broader pullback caused by the recession and the rise of e-commerce, now believes the catalog can help drive web sales. Reference Link

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