JCPenney says trends improving

JCPenney says trends improvingPlano, Texas – In a prospectus filed with the Security and Exchange Commission , JCPenney says its business is stabilizing and its third quarter comps should be positive.
“The company continues to be encouraged by improvements in purchase conversion both in store and on jcp.com, primarily due to being back in stock in key items and sizes the customer expects to find at jcpenney. Overall sales on jcp.com continue to trend double digits ahead of last year,” the company reported.
The company plans to sell up to 96.6 million shares through Goldman Sachs to raise capital. JCPenney in the filing said it expects to end the year with approximately $1.3 billion in overall liquidity from its current cash position and the undrawn portion of its credit facility alone.

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