JCPenney’s Day of Reckoning

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By Douglas A. McIntyre Published

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

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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