From MFool article
3 Reasons to Be Hopeful of a J.C. Penney Stock Turnaround
The company has had some mild good news recently.
Daniel B. Kline (TMFDankline) Feb 4, 2018 at 9:02AM
J.C. Penney (NYSE:JCP) has not had an easy few years. The chain's woes date back to 2011 when it hired former Apple (NASDAQ: AAPL) retail executive Ron Johnson as its CEO.
In his disastrous 17-month tenure, Johnson got rid of much of what the company's loyal customers liked about the brand. The CEO knew that the retail marketplace was changing, but he misjudged how to react to those changes and only lasted 17 months before being replaced by his predecessor, Myron Ullman.
After righting the ship, or at least slowing down its sinking, Ullman gave way to Marvin Ellison, who has slowly rebuilt the brand. It's not smooth sailing ahead for J.C. Penney, but there are reasons to believe the company has a chance at reversing its fortunes.
The exterior of a J.C. Penney
J.C. PENNEY HAS SHOWN SIGNS THAT IT'S TURNING AROUND. IMAGE SOURCE: J.C. PENNEY.
The holidays were strong
After a disappointing 2016 holiday season sapped some of its turnaround momentum, J.C. Penney delivered in 2017. The company saw a same-store sales increase of 3.4%.
"We are very encouraged with our overall comp sales performance during the holiday season, which was led by home, beauty and fine jewelry. Additionally, our apparel categories continue to demonstrate improved comp performance, particularly in women's and kids," said Ellison, in a press release. Ellison noted that e-commerce comps grew by double digits as well.
