In fact until Johnson totally screwed the company with his added $1B loss/25% decline in revenue with his policies, JCP was in better shape than Macy's and Kohl's:
Last update: 03/10/2013 11:47:45 pm
Below are the top department stores stocks on the NYSE in terms of cash.
The TJX Companies (NYSE: TJX) had $2.09 billion in total cash for the latest quarter. However, TJX had $1.27 billion in total debt for the same period.
J. C. Penney Company (NYSE: JCP) had $1.54 billion in total cash and $5.82 billion in total debt for the latest quarter.
Macy's (NYSE: M) had $1.42 billion in total cash and $6.91 billion in total debt for the latest quarter.
Kohl's (NYSE: KSS) had $592.00 million in total cash and $4.59 billion in total debt for the latest quarter.
Only TJX which is all about discounting and no-frills stores, had a better ratio of cash to debt. As of 3/10/13 just 6 mos. ago, so at least through 2012. TJX has xlnt advertising hitting home the concept of the latest hip fashions at discount prices.
Macy's was the nearest similar competitor which has regular coupon sales and they do extremely well for the store -- especially their 3-hour and one-day sales. The stores are mobbed at these times and there's a virtual frenzy to ring up merchandise in time sometimes.
These sales work as long as they're "special" and not everyday.
Unlike TJX they aren't an outlet store.
Ironically JCP is closing its outlet stores which don't require as much staffing and maintenance -- but their merchandise wasn't as varied and upscale as the most successful ones. People go to these places to get great deals on designer labels whereas JCP only has its own brands and some mid-line designers, so they can just discount in-same store so it makes sense not to have the overlap.
Short-term this will help cash flow.
-- and so my fellow UpTick, in response to your comment:
Do I bother research what I have an opinion on? Yes. If we were both making money here, we would be friendly. smile glta
One big difference between us is to me it's a real company, an American institution, not just a trade -- it's iconic, like Macy's with its NYear's parade, the Santa movies, but it's lost its way.
There ARE other/most companies I can coldly trade -- this is not one of them nor for many people.
AI
