J.C. Penney Company, Inc. (NYSE:JCP)jumped down -2.76% during the previous trading session. J.C. Penney (JCP) shoppers across the U.S. learned the fate of their local store Friday, as the chain revealed the 138 locations it will close this year. The news was a particularly big blow for consumers in a handful of U.S. markets, who recently received similar news from Macy’s (NYSE:M), Kmart or Sears (SHLD). Collectively, those three chains are in the process of shuttering 218 locations.
According to CNBC’s analysis of all four retailers’ latest closure lists, eight shopping centers across the country are losing two of these stores. They include the Jasper Mall, in Jasper, Alabama, where both Penney’s and Kmart are on the way out. CBL & Associates (CBL)’ Eastland Mall, in Bloomington, Illinois, is also losing two tenants: Macy’s and J.C. Penney.While losing an anchor tenant can be a warning sign for a mall, it’s sometimes an opportunity. Some of Macy’s latest closures, for example, occurred in quality malls that simply had a better store nearby, according to CoStar.
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Vestin Realty Mortgage II, Inc. (NASDAQ:VRTB) keeps its position active in street, shares closed at $2.57 with climbs of 3.21%. Veritiv Corporation (VRTV) reported that pricing of an underwritten public offering of 1,800,000 shares of its common stock by UWW Holdings, LLC, one of its existing stockholders and the former parent company of Unisource Worldwide, at a public offering price of $54.85 per share. Morgan Stanley & Co. LLC is acting as the sole underwriter of the offering.
The Company is not selling any shares of common stock in the offering, and the Company will not receive any proceeds from the offering by the selling stockholder. Subject to the satisfaction of customary conditions, the offering is expected to close on March 22, 2017.A registration statement (including prospectus) relating to these securities was filed with and declared effective by the Securities and Exchange Commission. Information about the offering is accessible in the prospectus supplement to be filed by the Company with the SEC.
Copies of the prospectus supplement and the accompanying prospectus relating to the offering may be obtained by contacting Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014. The firm has yearly sales growth for the past five year of 20.00%. While past twelve months price to sales ratio recorded as 1.31 and price to cash ratio remained 1.09.
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Stocks of Starbucks Corporation (NASDAQ:SBUX) appeared in active trade move, shows upbeat performance surged 1.79% to trade at $55.78 in last session with shares volume of 15.79 Million. Starbucks (SBUX) is opening a new downtown Sacramento location, steps from the front door of Golden 1 Center.
The Seattle-based coffee giant confirmed a future location at 630 K St., Thursday, after “coming soon” banners with the store’s distinctive logo appeared this week at the site.“Starbucks is always looking for great locations to better meet the needs of our consumers, and we can confirm that we are in the early stages of opening a new location at 7th & K in downtown Sacramento later this summer,” a Starbucks Corp. (NASDAQ:SBUX) spokeswoman said in an email.
There was no further information about the store, such as the size or exact timing of its opening. San Francisco-based Swift Real Estate Partners, which owns the building, did not respond to questions about the lease. To taking a short look on firm’s performance of margin, it showed a positive 13.30% in the net profit margin and in addition to its operating margin, which remained 19.60%.
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