4 Consumer Stock Stories to Entertain Over the Weekend
J.C. Penney & Co. (NYSE:JCP): Closing price $12.85
The historic retailer has already borrowed over $3 billion in 2013 to fund a turnaround, and knowledgeable sources now say that it is in talks to potentially raise more cash. Goldman Sachs Group arranged a $2.25-billion loan for the retailer this year and is advising J.C. Penney on additional fundraising options that include borrowing against its real estate holdings, said one source, who explained that discussions with hedge funds and other investors are at an early stage. More cash would afford J.C. Penney’s Chief Executive Mike Ullman more time to repair a company that has not posted a quarterly profit since mid-2011.