N*****d
发帖数: 9872 | 1 http://www.thestreet.com/story/11540140/1/why-jc-penney-is-wort
NEW YORK (TheStreet) -- Despite J.C. Penney (JCP) reporting exceptionally
weak earnings this week, hedge fund giant Bill Ackman thinks there's
significantly more room for upside, between $190 and $315 a share.
J.C. Penney reported an awful first quarter on Wednesday, missing analyst
estimates, lowering its outlook and cutting its dividend. Speaking at the
Ira Sohn hedge fund conference on Wednesday, however, Ackman noted that the
101-year old retailer is taking significant steps to cut costs, improve
profitability, and change how customers view the retailer.
Even though 80% of J.C. Penney's stores are in shopping centers with more
than $300 per square foot in sales, JC. Penney's sales are still suck at mid
-nineties levels, Ackman said. At $250 per square foot in sales, J.C. Penney
could be worth $191 a share, or $315 a share if J.C. Penney was able to
generate $350 in sales per square foot.
The company's stock currently trades at $27.57.
J.C. Penney's average sales are $132 per square foot, although new CEO Ron
Johnson is working to improve that by turning the company into a "mall
within a mall," Ackman said. J.C. Penney stores currently feature outlets
from Sephora, but will now have new stores from companies such as Nike (NKE)
, Levi Strauss, Buffalo, and others.
Johnson, who is credited with the success of Apple's (AAPL) retail stores,
has stopped handing out coupons and changed the company's pricing and
promotional model. The strategy eliminates unproductive store hours, reduces
labor hours and frees merchants to focus on product, not promotions, Ackman
said.
The Plano, TX-based retailer has been extremely inefficient, so Johnson and
his new executive team have identified some $900 million in savings by 2012,
of which $200 million could come from the company-owned headquarters and $
300 million from advertising. The retailer's inefficient supply chain,
capital allocation and inventory are other areas where J.C. Penney can save
money, Ackman noted.
With 24% of J.C Penney's float held short, Ackman, who is J.C. Penney's
largest shareholder with 18% of shares through his hedge fund Pershing
Square, believes that 2012 could continue to be a challenging year for sales
. Despite that, CEO Johnson has called J.C. Penney "the single best retail
transformation" and Ackman believes that with the mall-within-a-mall concept
, better product, and changes to the company's real estate operations, J.C.
Penney could generate $6 in earnings per share by 2015. | P*S
发帖数: 381 | | r*****e
发帖数: 4611 | 3 为啥贴个12年5月的文章？之后jcp一直喋喋不休的，所以这种分析很多都是狗屁。 | N*****d
发帖数: 9872 | 4 举个反例，让大家回味一下如何不受新闻的干扰，也算是一种back test吧。
【在 r*****e 的大作中提到】
: 为啥贴个12年5月的文章？之后jcp一直喋喋不休的，所以这种分析很多都是狗屁。
| l*****l
发帖数: 4170 | 5 Bill Ackman is full of shit. | N*****d
发帖数: 9872 | 6 亿万富翁里还算好的，2010年到现在帐户3倍，远beat巴菲特和索罗斯。
不过在JCP和HLF上栽了。
【在 l*****l 的大作中提到】
: Bill Ackman is full of shit.
| l****e
发帖数: 2315 | 7 哈
the
【在 N*****d 的大作中提到】
: http://www.thestreet.com/story/11540140/1/why-jc-penney-is-wort
: NEW YORK (TheStreet) -- Despite J.C. Penney (JCP) reporting exceptionally
: weak earnings this week, hedge fund giant Bill Ackman thinks there's
: significantly more room for upside, between $190 and $315 a share.
: J.C. Penney reported an awful first quarter on Wednesday, missing analyst
: estimates, lowering its outlook and cutting its dividend. Speaking at the
: Ira Sohn hedge fund conference on Wednesday, however, Ackman noted that the
: 101-year old retailer is taking significant steps to cut costs, improve
: profitability, and change how customers view the retailer.
: Even though 80% of J.C. Penney's stores are in shopping centers with more
| t******o
发帖数: 6493 | 8 jcp这事儿要问丽娟儿
★ 发自iPhone App: ChineseWeb 8.2.2
【在 N*****d 的大作中提到】
: http://www.thestreet.com/story/11540140/1/why-jc-penney-is-wort
: NEW YORK (TheStreet) -- Despite J.C. Penney (JCP) reporting exceptionally
: weak earnings this week, hedge fund giant Bill Ackman thinks there's
: significantly more room for upside, between $190 and $315 a share.
: J.C. Penney reported an awful first quarter on Wednesday, missing analyst
: estimates, lowering its outlook and cutting its dividend. Speaking at the
: Ira Sohn hedge fund conference on Wednesday, however, Ackman noted that the
: 101-year old retailer is taking significant steps to cut costs, improve
: profitability, and change how customers view the retailer.
: Even though 80% of J.C. Penney's stores are in shopping centers with more
|
|
