Fox Business reports on rumors that "Amazon and bankrupt J.C. Penney are reportedly in talks over some type of deal," with an Amazon team currently in Plano, Texas, to talk to JC Penney execs.
Speculation is that some sort of acquisition of a part of JC Penney's business would help Amazon build its apparel portfolio.
Neither company is commenting on the report.
- KC's View:
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Anything is possible, but I would remind you that there also was a lot of speculation that Amazon would buy Radio Shack and Toys R Us - and almost every other traditional retail business that has had major troubles over the past decade. Actual acquisitions of bricks-and-mortar businesses have been few.
It is my experience that there are a bunch of stock analysts out there who love to float this kind of speculation as a way of getting their names into the financial newspapers and websites. I give these reports little credence … though, as I say, anything is possible.
