The Plano, Texas-based J.C. Penney Company, Inc’s (NYSE:JCP) merchandising and marketing head is quitting from the company following a marketing strategy that has failed. The company reported that the Chief Executive Officer Ron Johnson will take over his responsibilities.
J.C. Penney reported in a statement on Monday that the Michael Francis was quitting without delay, Francis joined the company in October. The retailer did not specify the reason for Francis’s depart.
The exodus comes as Johnson fights to reconstruct the company’s image and restructure its pricing strategy.
Macquarie Group analyst in New York Lizabeth Dunn stated that they were not happy with the marketing strategy and it was not resonating with customers.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Sears Holdings Corporation (NASDAQ:SHLD) increased +1.14% to settle at $51.66, Kohl’s Corporation (NYSE:KSS) moved down -1.84% to end at $43.72 while Macy’s, Inc (NYSE:M) jumped 1.53% to finish on Monday at $36.61.
J.C. Penney Company, Inc (NYSE:JCP) on June 18, 2012 it decreased -2.25% to the closing price of $24.33. The overall volume in the last trading session was 7.56 million shares. Its fifty two week range was $23.14 -$43.18. The total market capitalization remained $5.32 billion.
JCP is ahead its 52 week low with +5.75% and lagging behind from its 52 week high price with -43.34%. JCP last month stock price volatility remained 4.00%. In its share capital JCP has 218.59 million outstanding shares among them 182.23 million shares have been floated in market exchange. JCP stock insider Trans remained -5.41% while insider ownership included 1.12%.
The stock price of JCP is moving down from its 20 days moving average with -5.42% and remote negatively from 50 days moving average with -20.42%. JCP current year earnings per share experienced a downfall of -144.02% while its current quarter performance remained -32.45%. Company’s beta coefficient included 1.83. Beta factors measures the amount of market risk associated with market trade.
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