JCP - J.C. Penney Is A Weak Company Facing Major Losses Due To The Ongoing Economic And Social Situation
J.C. Penney Company, Inc. (JCP) is a well-known but troubled US department store whose stock has been trading around 50 cents per share as I write this article. The question I am reviewing is not whether the company is finding a way to a profitable turnaround (it hasn't), but how its financials will look as a result of the escalating Coronavirus crisis.
Pre-Virus Financial Situation Was Deteriorating
Reviewing the last quarter compared to the six prior quarters JCP has seen decreasing revenue on a year-over-year basis every quarter. The decreases range from 4.3