Consumer Biz Recap: JC Penny’s ANNIVERSARY, Coca-Cola IN WAITING
Shares of J.C. Penney (NYSE:JCP) show a small rise on this first anniversary of CEO Ron Johnson’s accession, while plenty of discussion of his pricing debacle abounds. Observers note that the departure of shoppers from the company has so far benefitted Macy’s (NYSE:M), Wal-Mart, and Target (NYSE:TGT), but cautiously add that the story is not likely over, as by August almost 50 percent of goods in JCP’s stores will be new, and that analysts should wait for the autumn sales figures before concluding any forecasts.
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Dallas lives, (or has been reincarnated)! The opening episode of Time Warner’s (NYSE:TWX) TNT’s remake of the classic quasi-soap hooked in some 6.86 million viewers, which afforded it the position of the top-rated series debut of the year, so far. However, the new version of the Ewing’s adventures and misbehaviors has a high hurdle to jump, if it’s to equal or surpass the whopping 83 million viewers who clambered around the tube to find out who shot J.R., back in 1980.
Coca-Cola (NYSE:KO) is awaiting the U.S. government’s okay, to allow it to start up business in Myanmar (Burma). The move accompanies rumors that Chevron (NYSE:CVX) and Exxon (NYSE:XOM) intend to put resources into that country as well. If Coke’s plans go forward in Myanmar, that will leave only North Korea and Cuba without its business.
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