J.C. Penney ended the third quarter with $684 million, down from more than $1 billion at the end of the second quarter. Sears had just $326 million in cash at the end of October$500 million less than what had in July.
But there are a couple of reasons why these two are not in as dire financial shape as RadioShack just yet.
If the turnaround fits. J.C. Penney (stop us if you’ve heard this before) might actually be in the process of righting the ship. The company has embraced a back-to-basics approach following the disastrous tenure of CEO Ron Johnson, the a former top Apple vice president.
Sales and other promotional discounts are no longer forbidden. J.C. Penney even just reintroduced its famous catalog.
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Does this mean that both companies are on the verge of explosive turnarounds and that their stocks look like great buys? No.
Still, the companies probably shouldn’t be lumped in with RadioShack either. The next chapter in their respective corporate stories may not be fantastic, nut it probably won’t be Chapter 11.
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