Boston, MA 11\/27\/2013 (wallstreetpr) – J.C. Penney Company, Inc. (NYSE:JCP)\u2019s latest slap in the face is removal from the S&P 500 Index after bleeding most of its market value. The replacing company is\u00a0 Allegion PLC (NYSE:ALLE*) which is set for spin off by the parent company Ingersoll-Rand PLC (NYSE:IR).<\/b> JCP\u2019s downfall from the benchmarking index is because its market cap was fallen below $3 billion making a candidate for the mid-cap index.<\/p>\n
The chain retailer has seen it all negative since mid 2011. Its retail market share has dropped making it an underdog in the industry that it once dominated. Its profits have since turned to painful losses while its huge foot traffic has reduced materially. The company has had to made desperate moves to stay relevant and one such move was the replacement of chief executive Ron Johnson by Mike Ullman. In any case, Ullman was the CEO of the company during its profitable years and peak performance in 2007 but was ousted by the board to bring in Jonson from Apple Inc. (NASDAQ:AAPL).<\/b><\/p>\n
Looking at\u00a0J.C. Penney Company, Inc. (NYSE:JCP) in November 2013, it is all but clear that the retailer is making gradual but steady comeback. It issued its Q3 results on Nov. 20, which showed that although it\u2019s still making losses, the losses are narrowing given that the company posted better than expected results for the quarter. In October, the company realized its first monthly sales tick up for a long time.<\/p>\n
The fact that the CEO Ullman has bought the retailer\u2019s shares valued at $1 million also tells of the confidence he has in the company\u2019s turnaround. He is the first high profile insider to acquire the stock of the struggling retailer and this bears a lot of means to the outside investor.<\/p>\n
Since Ullman\u2019s acquisition of the stock at $8.95 per share, the stock peaked up significantly on the news and now trades around $9.42 per share.\u00a0 This CEO action has been able to contain what would have been a damaging fall of\u00a0J.C. Penney Company, Inc. (NYSE:JCP) due to its ouster from the prestigious S&P 500 Index.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 11\/27\/2013 (wallstreetpr) – J.C. Penney Company, Inc. (NYSE:JCP)\u2019s latest slap in the face is removal from the S&P 500 Index after bleeding most […]<\/p>\n","protected":false},"author":13,"featured_media":12772,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[152,4188,4187,4185,1586,1612,4191,4189,4192,3125,1753,692,1002,4186,4190,685],"stock_ticker":[],"class_list":["post-12771","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-aapl","tag-alle","tag-allegion-plc","tag-allegion-plc-nysealle","tag-apple-inc","tag-apple-inc-nasdaqaapl","tag-ingersoll-rand-plc","tag-ingersoll-rand-plc-nyseir","tag-ir","tag-j-c-penney-company-inc","tag-j-c-penney-company-inc-nysejcp","tag-jcp","tag-nasdaqaapl","tag-nysealle","tag-nyseir","tag-nysejcp","entry"],"acf":[],"yoast_head":"\n