Can J.C. Penney Continue to Surge Higher?
T = Trends for a Stock’s Movement
J.C. Penney is a retailer operating more than 1,000 department stores in just about every state in the United States and Puerto Rico. Its business consists of selling merchandise and services to consumers through its department stores and website. It sells family apparel and footwear, accessories, fine and fashion jewelry, beauty products through Sephora, and home furnishings. The company has not done too well in recent years, but it is doing what it can to be a top provider of apparel and related products.
After the bell on Tuesday, J.C. Penney reported sales at stores open at least a year climbed by 10.1 percent in the month of November, marking a strong start to the holiday season for the beleaguered retailer. In the report, J.C. Penney noted that sales were improving as the result of both better merchandise options for consumers and more aggressive promotions. Investors were focusing on the potential hit to margins rather than the increase to sales as the stock was trading lower by 2.5 percent in early trading today.