“Last quarter the majority of what they sold was at the marked price. They went from 0.2% to 67% in only one quarter! However, that caused shock among the JCP customers,” says Tilson.In addition, Tilson sees other bulish catalysts. JCP has made progress in cost cutting and they’ve inked deals to have stores within stores featuring popular brands including Nike and Martha Stewart.“Our view is that JCP is offering really good pricing and they’re weaning customers off coupons. I think we see sales increase buoyed by a lot of great new merchandise,” he says.

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Posted by CNBC's Lee Brodie

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