The Super K-Mart store by us is now closed . . . the Sear's Grand store is still open, as is the Sear's Outlet store across the street from where I work (and where we got our dishwasher).
Sears Third Quarter was nothing short of Terrifying
- Thread starter DJ Ricky B
- Start date
Sears announced a restructuring this morning and shares jumped 40%. Perhaps they're not circling the drain after all.
I think they are. Radio Shack went through the same process...a few times.
Certainly possible. The pop could be the shorts trying to close out of it. Short interest is showing at 23% of the float, which is a BIG portion of the holdings. That alone could move the stock for a while.
Sears will most likely be around years from now but with way few stores. Most likely selling appliances, tools & a few other items. They just did this at the Staten Island store. They went from 2 full floors and auto center to just 1/2 a floor. I've run into quite a few associates in the appliances department who are million dollar sellers. Most likely they will also further push selling appliances online like they do now. Today I took my son to visit the Source mall in Westbury, NY. It is practically dead mall, the anchor stores are closed, The food court is closed and I'd say 95% of the stores in the mall are closed. If you think Sears has problems this mall has them beat. And I remember not too long ago when the mall first opened and was busy. Now it's kind of surreal now.
It was probably one of the worst strategic decisions they could have made....as a company; they sold one of the few assets that had value. Now, it was a great decision for the CEO and his hedge fund company.
Not so much a lesson of knowing where you stand, but more like a lesson in agency problems, poor strategic management and very questionable ethical actions/decisions on the part of a CEO.
The CEO allowed Sears to borrow money from his hedge fund company (a red flag right off the bat) after doing some really boneheaded strategic decisions which made Sears too top-heavy and destroyed any synergies that were within the company and it's brands. Long and short, Lampert ensured that Sears would destroy itself (intentional or not) and made sure that he would indirectly benefit from it while screwing over the shareholders.
Sears Has Finally Admitted That It's Almost Dead
The highlights:
Cash down from $1.7 Billion in 2009 to $286 Million at the end of 2016.
No cash flow from operations since 2006.
The highlights:
Cash down from $1.7 Billion in 2009 to $286 Million at the end of 2016.
No cash flow from operations since 2006.
Yup...Sears is finished Maybe they will break apart divisions of the company, and keep parts of the company still active after they go out of business. I have been told the home services division does well in the DC and Baltimore areas. Not sure about everywhere else though.
Also, now Payless Shoes is about to declare bankruptcy!
Payless Is Said to Be Filing for Bankruptcy as Soon as Next Week
hey, it was announced our JCP is staying open!!
Sears closed, all the kmarts closed, macy's is in it's final 90% clearance. We've even started to lose some grocery stores. Not walmart of course LOL
Sears closed, all the kmarts closed, macy's is in it's final 90% clearance. We've even started to lose some grocery stores. Not walmart of course LOL
Our is staying open. However, the one out in Easton, MD is closing. I did not know there was one in Easton, MD. JC Penneys is doomed, they are just buying some time by cutting costs. What JCP needs to do is offer some extraordinary pricing to bring the customers back shopping there on a routine basis. ...I actually went to JCP.COM looking for shoes about 5 months ago. I was disappointed. On their website they did not have anything I liked that was in my size. I went to the local store, and the shoe selection was pretty poor. I was just all around disappointed. I wanted to buy shoes from them, but did not get the chance to. I ended up buying a pair of Sketchers from Amazon. They had my size, and the exact shoe I was looking for, and for only like $38 shipped to my door. The Sketchers at JCP were like $54.99 or higher, and had a weak selection for MEN.
I think j mac was correct. There's more and more things coming out about Lambert making "terrible" decisions that really hurt Sears but benefits Lambert, even if the company goes into bankruptcy. He sold it as investing his own money in Sears, but he has syphoned of a lot of money while ensuring he will be the biggest benefactor in a Sears bankruptcy.
Retail is not dead. Bad business will always sink a company.
on teh news today - sears may be closing ALL stores, all kmarts too, and going to online retailing only.
Same for bebe stores (130 or so), though they're trying to do it without bankruptcy
Same for bebe stores (130 or so), though they're trying to do it without bankruptcy
JamminDownJD
Entertainment Director and Radio Consultant
HHGregg will sport yellow signs soon. Bebe, Guess, Abercrombie & Fitch, and more will join The Limited, American Eagle Outfitters, and BCB Max Azria in the demise of mall retailers. JCPenney has a couple of years. Macys will be scrambling (looking for a savior buyer).