J.C. Penney price target lowered to $5 from $7 at UBS UBS lowered its price target on J.C.Penney following its announcement it would close 33 stores. The firm lowered estimates and reiterated its Sell rating on the belief the closures suggest that stores will not be returning to profitability at the pace the company anticipated. UBS also sees limited ability to cut costs further which could lead to further closures.
J.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