Wells says 'no reason to get too excited' about J.C. Penney Wells Fargo sees "no reason to get too excited" over J.C. Penney after the company reported Q2 results. Wells notes that while gross margin improved significantly, comps slowed versus Q1 and the retailer still lost (73c) per share. The firm continues to view the current valuation as stretched and keeps an Underperform rating on the stock with a $5-$6 price target range.
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