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J C Penney Shares Trading Slightly Lower Following Cautious Warning From Cleveland Research

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On Tuesday, Matthew Delly of Cleveland Research stated that J C Penney Company Inc's (NYSE: JCP) challenging sales trends which were pre-announced in September continued into October.

In a note to clients, Delly states that J C Penney's challenging traffic trends is "likely driven by mixed customer responses" to the company's promotional events. In addition, warmer weather and strength in private label sales impacting national brand performances contributed to weaker traffic.

The analyst expects J C Penney to step-up its promotional activity during the coming holiday shopping season.

Delly also adds that J C Penney may have captured a measurable apparel category market share from troubled retailer Sears Holdings Corp throughout the second half of 2014.

J C Penney recently traded at $7.16, down 0.7 percent.

 

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Posted-In: Cleveland Research Matthew Delly searsAnalyst Color

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