Consumer Business Review: J.C. Penney’s LOVES Ackman, Starbucks Goes To SUDAN
Here are Thursday’s top stories:
J.C Penney Co. (NYSE:JCP) shares react positively to Bill Ackman’s defense of the historic retailer. But on the downside, critics of the company do not quite buy the reasoning behind blaming “bad PR” for sales dropping 20 percent.
Coffee executives are searching Sudan, in hopes of finding a new coffee bean that will allow increased production and also be resistant to climatic effects. Demand for such a nuance has been sharp in the industry, keeping coffee players such as Starbucks Corporation (NASDAQ:SBUX), Green Mountain Coffee Roasters, Inc. (NASDAQ:GMCR), Peet’s Coffee & Tea, Inc. (NASDAQ:PEET), and Coffee Holding Company, Inc. (NASDAQ:JVA) eager to see commodity prices greatly boosted from a magic new bean.
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