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Penney (J.C.) Co. Inc. Apr 11 Product Image

Penney (J.C.) Co. Inc. Apr 11

  • Published: April 2011
  • Standard & Poors


  • J.C. Penney Co. Inc.
  • J.C. Penney Corp. Inc.
  • MORE

Satisfactory market position in department stores; Strong private-label business; and Good recent operating performance. Participation in the mature and extremely competitive retail industry; Little, if any, new mall development, resulting in limited growth opportunities; and Some risk in off-mall development strategy. The ratings on Penney (J.C.) Co. Inc. reflect its recent performance, which has been in line with Standard & Poor's Ratings Services' expectations, as well as our view that operations are likely to improve modestly over the near term. While the company has improved its credit protection profile through performance gains and debt reduction, the recently announced $900 million share repurchase program makes substantial debt reductions much less likely in the near future, in our view. The satisfactory business...

Companies mentioned in this report are:
- J.C. Penney Co. Inc.
- J.C. Penney Corp. Inc.

Action: Review

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- J.C. Penney Co. Inc.
- J.C. Penney Corp. Inc.

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