Citi Analyst Says J.C.Penney is Facing Risks to its Q2 Comp Sales and its Top-Line
In a report published Wednesday morning, Citi analyst Deborah Weinswig said that management departures from J.C. Penney (NYSE: JCP) show challenges to the company's second-quarter comp sales.
While Weinswig reiterated her Neutral rating and $20 price target, she noted that she expects the company's comp sales to drop by 5 percent, and to see an EPS loss of $0.82.
The company's failed focus on its home section was noted as one headwind, and that it will have to rely on a strong push for back-to-school sales in the second half of 2013.
Following the report, JC Penney shares were down 1.37 percent to $15.88.
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