From Home Furnishing Business
J.C. Penney's Home Shops Void of Shoppers
Longtime department store analyst Michael Exstein reiterated his sell rating for J.C. Penney stock after seeing increased markdowns in Penney's attractive new home department.
Home was supposed to help lift Penney's sales in the second half of this year after being under construction for several months.
The Credit-Suisse retail analyst expects second-quarter results to be weaker than expected and that weakness could spill over into the third quarter. Penney will report second-quarter results in mid-August.
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Source: Dallas Morning News