Don't Hold Your Breath for a J.C. Penney Turnaround

By Steve Symington – Dec 6, 2013 at 9:55AM

OTC: JCPN.Q

J.C. Penney

J.C. Penney's most recent numbers may look encouraging on the surface, but one Fool thinks investors shouldn't count on a turnaround in the near future.

In an effort to boost investor sentiment, J.C. Penney (JCPN.Q) recently announced that comparable store sales rose 10.1% in November.

Why, then, did the stock fall more than 4% on the news?

In the following video, the Fool's Steve Symington says it helps to consider J.C. Penney's dismal comparable-store sales results during the same year-ago quarter, which set an incredibly low bar for the struggling retailer to beat.

In fact, Steve notes, there are a number of reasons these seemingly positive results are actually worrisome. Check out the video below to get his full take, then feel free to weigh in to let us know whether you think shares of J.C. Penney are a buy at today's levels.

Fool contributor Steve Symington has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.