On 11/16/2011, I included an article about Ron Johnson taking over as CEO of JCP and the high price superstars he brought on board. Original Article Well, on 11/16, the stock price of JCP was 31.94. Today, 2 plus months later, the stock price of JCP is 41.42. A near 30% increase. As a result, the market cap for JCP has gone up from 6.82 billion to 8.85 billion, a whopping 2.03 billion dollar increase to shareholder value.
So far, Ron Johnson is proving that he is a rainmaker, unlike the majority of folks who are in rainmaking positions but produce drought like results. Can't get too excited just yet, because I remembered Sears had a short term bump when Eddie Lampert installed his executive team several years ago. Currently, Sears is on it's final leg, unless something extraordinary happens.
A great start for JCP, nonetheless.
No comments:
Post a Comment