Nas wrote:
I thought Sears was closed
Soon. 8 consecutive quarters of $100 million+ losses. $400 million down the shitter in the most recent quarter.
They are picking up the pace of selling off assets and closing stores. Sears also owns K-Mart, which is similarly fucked.
Sears did try to move to an online/same day or quick delivery model, using its shuttered stores as mini-warehouses. But the store real estate tends to be too valuable for retail to use as warehouse space.
So now it's sell off the parts and use the cash from those sales to stay afloat; with the dim hope that somehow a moribund pair of brands--K-Mart and Sears--will catch internet lightning in a bottle and become profitable as online businesses.
Interesting profile of Eddie Lampert, the hedge fund dude who now runs Sears on the principles of Ayn Rand:
http://www.businessweek.com/articles/20 ... e-troublesEddie Lampert is a fucking buffoon.