JC Penney (NYSE: JCP ) has been a controversial stock, with some investors hugely enthusiastic about their turnaround, while others are markedly bearish. In the last month, the bulls have clearly been heard, as Penney's shares have popped about 30%. The reality is that not much has changed over that period, except that we're now in the full swing of the back-to-school season.
The tiered pricing strategy remains, same-store sales were still horrible in the last two quarters, and Penney's suspended their dividend. Yet, Ron Johnson has still been able to sell investor confidence hand over fist as the market has bid up shares, in anxious hope that his retail acumen works as well for JC Penney as it did for Apple (Nasdaq: AAPL ) and Target (NYSE: TGT ) .
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