- J C Penney Company Inc (NYSE: JCP) shares have gained 3 percent since January 11, amid significant volatility.
- B. Riley’s Jeff Van Sinderen maintained a Buy rating for the company and a price target of $12.50.
- These programs should boost traffic, comps and EBITDA, Sinderen stated.
JC Penney has launched private label brand Belle + Skye for millennial women in their 20s and 30s. This is the company’s first private label contemporary brand and was piloted during fall 2015. B+S is expected to be available in 500 stores from February 12.
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Analyst Jeff Van Sinderen mentioned that the brand targets women who are style conscious and digitally connected. The Spring collection would include boho, florals, paisleys, denim, moto jackets and pencil skirts with signature handbags through the year. A shoe line would be available in the fall.
JC Penney plans to have an omnipresent approach for B+S, which would include social media, collaborating with popular bloggers and partnering with fashion influencers.
Sinderen commented that the millennials spend about $600B annually and would be a key market for the company to target. The initiatives should bring in traffic, comps and EBITDA, the analyst said, while adding, “[O]verall, we have a positive view on these initiatives.
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