JCPenney Co. Inc. (NYSE: JCP), one of the oldest retailers in the United States, will release earnings this week. When it issued its previous quarterly numbers, sales fell 20%. Most analysts do not believe the figures will be that bad again, but they anticipate that revenue will decline 17%, based on consensus forecasts. A drop of that size will cause experts to question once again whether JCPenney has a future as a standalone company, or whether it will need to be sold, either in whole or in parts.
The earnings also could determine the fate of new CEO Ron Johnson, who joined JCPenney from Apple Inc. (NASDAQ: AAPL) last year. He has done the company more harm than good since he came on board.
Douglas A. McIntyre