J.C. Penney analyst Bernie Sosnick wrote on Thursday that the retailer was making "a bit of progress," after the company reported an 0.9% increase in same-store sales for October.
But the really interesting part of his note was his outline of risks to investing in J.C. Penney, which perfectly sum up the beleaguered department-store's problems in seven bullet points. If you can't read them above, we have them here:
Chief Executive Officer Mike Ullman is trying to turn around the company after he returned to replace former CEO Ron Johnson in April.
J.C. Penney shares have fallen 58% this year after a 44% decline in 2012. Three analysts tracked by Bloomberg have a buy rating on the company, with 15 hold recommendations and seven "sells."
Sapna Maheshwari is a business reporter for BuzzFeed News and is based in New York. Maheshwari reports on retail and e-commerce.
Contact Sapna Maheshwari at firstname.lastname@example.org.
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