Well-known long and short hedge fund manager Bill Ackman was on CNNFN. In this video he discusses his views on J.C. Penney and his outlook for the turnaround led by former Apple (AAPL, Financial) retail chief Ron Johnson.
-- He thinks J.C. Penney is heading in the right direction.
-- Average turnaround takes around four years and J.C. Penney is only in its second year and will need some time to fully show the results.
-- Thinks Ron Johnson is the best guy to run J.C. Penney
-- Thinks store looks great now and this is the year when he will see the sales heading in the right direction.
-- Pershing is in this for the long run and has the patience and commitment to stick to the turnaround engineered by Johnson.
Credit and source: CNNFN, www.cnnfn.com
Here is the video:
-- He thinks J.C. Penney is heading in the right direction.
-- Average turnaround takes around four years and J.C. Penney is only in its second year and will need some time to fully show the results.
-- Thinks Ron Johnson is the best guy to run J.C. Penney
-- Thinks store looks great now and this is the year when he will see the sales heading in the right direction.
-- Pershing is in this for the long run and has the patience and commitment to stick to the turnaround engineered by Johnson.
Credit and source: CNNFN, www.cnnfn.com
Here is the video:
