You gotta love those Ivy League educated Wall Street shills. They are thrilled with the 4% decline in sales at JC Penney in September. This piece of shit retailer has surely turned the corner. Of course, these same Wall Street shysters have been recommending buying JC Penney for the last three years as it has declined 80%.
I guess they don’t teach basic math to these Wall Street schlubs. The 4% sales decline in September was after a 26% same store sales decline last year and a 1% sales decline the year before. This means that this September’s sales were approximately 31% below their sales in 2010. And there has been at least 5% to 10% of inflation over that time frame, so their real sales are down by about 40%. They also don’t report that they were discounting everything in the store by 50% in order to generate a NEGATIVE 4% sales result after a NEGATIVE 26% the year before. WOW!!!! They have really turned it around. I can’t wait to see those huge profits they report in a few weeks.
Back up the truck and buy this stock before it’s too late. Wall Street really loves fleecing the muppets.