Is Sears done for?
Hey monkeys,
Sales have fallen 11.5% for Sears during their Q2'17. They have been on the decline for a long time now and have been closing many stores since then. Sears sold one of its brands and is planning to lay off many employees during this year to cut their expenses. They have desperately been trying to stay in the game, but can they? The company has been posting loss after loss.
Also.
Analyst Bill Dreher of Susquehanna Financial Group said in a research note that Sears would need about $1.2 billion in 2017 and $1.4 billion in 2018 to operate the business.
Thoughts? Do you think they will have to file for bankruptcy?
The business is in a death spiral. The comps alone tell the story. IDK why Eddie won't admit defeat and sell off the remainder of the company that has value. Without liquidity injections from ESL, the vendors would demand cash to keep shipping. He's spending down his personal fortune trying to keep it solvent. I guess it's incredibly difficult for a certain type of person to admit something's hopeless and cut their losses. Napoleon was like that.
Shocked Amazon hasn't snatched them up for the physical storage/warehouse space.
This is the start of the era of e-commerce/online markets.
agree, but they still need to hold the physical inventory somewhere.
Sears is still around?
I was thinking the same thing, I figured they died off long ago.
My mom used to take me and my siblings to Sears all the time when we were younger -- and not buy a whole lot since it was expensive as shit. I returned to the same place several days ago as it was shutting down and there were megasales going on to get rid of inventory.
At 60-70% off, things at Sears were still grossly expensive lol. If it's like that at the other stores, I'd be unsurprised if Sears dies completely soon.
It was very sad to see the store shut down though... it was quite a sight to see once everything got torn down.
Sears was my first job ever. If I would've known how to short a company or had more than $100 to my name when I was 16 I would've pulled the trigger on them. I'm just shocked that they are still in operation.
whats a sears
The Kodak Eastman of retail
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