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JCP

J.C. Penney

$1.08 /

-0.06 (-5.26%)

, SHLD

Sears

$0.00 /

+ (+0.00%)

11:55
05/20/19
05/20
11:55
05/20/19
11:55

Fly Intel: What to watch in J.C. Penney earnings report

J.C. Penney (JCP) is scheduled to report results of its first fiscal quarter before the market open on Tuesday, May 21, with a conference call scheduled for 8:30 am EDT. What to watch for: 1. TURNAROUND EFFORTS: Analysts and investors will listen for comments from the retailer on its cost cutting moves. Last year, J.C. Penney reduced payroll, froze overtime and took other major cost cutting steps as it faced "an expense challenge." J.C. Penney management has said the company would continue to be "aggressive" on cost cutting. Last August, J.C. Penney said it plans to cut $250M in inventory by 2019. The company said last quarter that it will close 18 full-line stores in 2019 and nine ancillary home and furniture stores. It said gross margin improvement remains a "major" focus. 2. STRATEGY SHIFT: J.C. Penney announced in early February that it will stop selling major appliances in order to improve financial performance and drive profitable growth. Additionally, the struggling retailer said it will mostly stop selling furniture, instead focusing on its "legacy strengths" in apparel and "soft" home furnishings, which it said represents higher margin opportunities. Additionally, in February, J.C. Penney pulled the plug on a clothing subscription service established in 2017 through a partnership with Bombfell.com that offered private label and national men's clothing brands to people who signed up for regular apparel shipments. 3. COMPETITIVE LANDSCAPE: Mall-based retailers, including J.C. Penney, have been hurt by the increasing popularity of fast-fashion retailers like Zara, Forever 21 and H&M. The current promotional environment as well as tourism sales and a shift to e-commerce has been a focus for many retailers as of late. Last October, Sears (SHLD) filed for bankruptcy. At the time, the company said it intends to stay in business, keeping open stores that are profitable. Macy's (M) reported earnings per share last week that crushed analysts' expectations, though its revenue was basically in line with expectations. 4. EXECUTIVE TURNOVER: J.C. Penney announced in February that Michelle Wlazlo, who previously served as senior vice president of apparel and accessories merchandising at Target (TGT), would become its executive VP, Chief Merchant. During the quarter, the retailer appointed Vitamin Shoppe's (VSI) Bill Wafford as its CFO, and most recently named Steve Whaley as principal accounting officer and controller. Whaley was with Walmart (WMT) for over eleven years where he served as the senior VP and controller, principal accounting officer.

JCP

J.C. Penney

$1.08 /

-0.06 (-5.26%)

SHLD

Sears

$0.00 /

+ (+0.00%)

TGT

Target

$71.58 /

+0.7 (+0.99%)

M

Macy's

$21.30 /

-0.49 (-2.25%)

VSI

Vitamin Shoppe

$4.45 /

-0.23 (-4.91%)

WMT

Walmart

$101.24 /

+0.36 (+0.36%)

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JCP J.C. Penney
$1.08 /

-0.06 (-5.26%)

01/16/19 Credit Suisse
Nordstrom price target lowered to $50 from $55 at Credit Suisse
01/09/19 Credit Suisse
J.C. Penney looks best positioned to gain share from Sears, says Credit Suisse
11/16/18
On The Fly: Top five analyst downgrades
11/16/18 Argus
J.C. Penney downgraded to Sell from Hold at Argus
SHLD Sears
$0.00 /

+ (+0.00%)

10/17/18 Credit Suisse
Whirlpool price target lowered to $125 from $175 at Credit Suisse
10/16/18 Loop Capital
Best Buy to be major beneficiary of likely Sears liquidation, says Loop Capital
10/12/18 MKM Partners
L Brands visibility remains low despite better Sept comps, says MKM Partners
TGT Target
$71.58 /

+0.7 (+0.99%)

05/20/19
Fly Intel: Top five analyst upgrades
05/20/19 Morgan Stanley
Target upgraded to Equal Weight following recent 15% pullback at Morgan Stanley
05/20/19 Morgan Stanley
Target upgraded to Equal Weight from Underweight at Morgan Stanley
05/03/19
Fly Intel: Top five analyst downgrades
M Macy's
$21.30 /

-0.49 (-2.25%)

05/16/19
Fly Intel: Top five analyst upgrades
05/16/19 Morgan Stanley
Macy's EPS beat masks 'worrying' core retail performance, says Morgan Stanley
05/16/19 Goldman Sachs
Macy's upgraded to Neutral from Sell at Goldman Sachs
05/08/19 Cleveland Research
Macy's Q1 owned comps estimate lowered at Cleveland Research
VSI Vitamin Shoppe
$4.45 /

-0.23 (-4.91%)

01/08/19 Barclays
Vitamin Shoppe upgraded to Equal Weight from Underweight at Barclays
09/17/18 Morgan Stanley
Vitamin Shoppe resumed with an Equal Weight at Morgan Stanley
09/07/18
On The Fly: Top five analyst downgrades
09/07/18 Barclays
Vitamin Shoppe downgraded to Underweight from Equal Weight at Barclays
WMT Walmart
$101.24 /

+0.36 (+0.36%)

05/17/19
Fly Intel: Top five analyst upgrades
05/17/19 BMO Capital
Walmart's Q1 'very encouraging for bullish thesis', says BMO Capital
05/17/19 Gordon Haskett
Walmart upgraded to Accumulate on expected EBIT gains in U.S. at Gordon Haskett
05/17/19 Gordon Haskett
Walmart upgraded to Accumulate from Hold at Gordon Haskett

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