Even with all of the recent volatility, June has been a decent month for the S&P 500 which as posted a 3.5% gain month to date. One stock that has bucked that overall upward trend has been J.C. Penney (ticker: JCP) which is down 9.2% for the month and 35% for the year. Here's the top 10 decliners in the S&P 500 for the month of June so far:
After a solid beat in calendar Q4 2010, EPS has trended down over the past 5 quarters and calendar Q4 2011 was particularly abysmal. When looking at EPS actuals, the stock price has held up reasonably well.
As far as general retailers go in 2012, the problems are isolated to JCP. SHLD has been one of the best performers in the S&P 500 and CSCO, WMT and TGT all are putting in solid performances. Here's a comparison chart:
We're going to finish our post with a link to a video containing the always entertaining Howard Davidowitz who not-so-casually mentions that he predicted JCP's current misfortunes.
http://pricesignals.blogspot.com/2012/05/howard-davidowitz-on-jc-penneys.html
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