Getting Ready for JC Penney's Earnings Release
It has been almost a year since I started following JC Penney and their turnaround effort. I have to admit that supporting them back then was just a little too early and I have paid the price, losing close to half of my original investment on shares of this company. Having said that, I still think this company can and will be turned around. Though I still think some of the changes that Ron Johnson introduced are good for the company (e.g. uncluttered stores), It is also true that taking away the coupons were a major mistake that resulted in a precipitated decline on sales. Now that Mike Ullman is back on the reign and coupons have been reinstated I think customers will come back. JC Penney is scheduled to release earnings this upcoming Wednesday, and based on the latest events and releases from the company, I expect it to give positive news that will give the stock a much needed boost and at the same time scare some short sellers away from it. I will listen to the conferenc...