Tag Archives: Distressed retailers

Sears’ New $400 Million Secured Loan: Another Sign of Trouble at the Venerable Retailer?

Last year, the 112-year old retailer J.C. Penney was regularly in the news – and it was rarely good.  The stock was in a free-fall, in the process of dropping from about $20 per share in May 2013 to a low of a little more than $6 dollars per share in late October.  Media reports were grim, focusing on the attempt and failure of the former Apple executive Ron Johnson to turn the business around.  But now, as we approach the critical holiday season, J.C. Penney’s stock has quietly reached more than $11 per share, with a market capitalization of $3.4 billion on $12.16 billion in revenue for the trailing twelve-month period.  While a far cry from J.C. Penney’s all-time high of more than $80 per share in March 2007, the company at least seams to have bought itself some time.  Continue reading

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