Posted on 12/04/2014 12:42:34 PM PST by Hojczyk
Sears shares fell Thursday, after the struggling department store announced an adjusted net loss of $296 million—in line with the updated guidance it gave in November.
The retailer also said it's accelerating the number of stores it plans to close this year, boosting its list from the 130 underperforming stores it announced in its second-quarter earnings release, to a total of 235 stores.
Analysts called the move a step in the right direction for the company, which has been tapping into its real estate in creative ways to compensate for downward-spiraling sales. Still, they said the haircut won't be enough on its own to turn the tide at Sears, adding that it needs to close even more stores—and figure out how to become profitable.
According to Retail Metrics, Sears hasn't posted a quarterly profit since fourth quarter 2012.
(Excerpt) Read more at cnbc.com ...
Lambert owns the whole shebang. :-)
lol, I loved it. I was the same age as Cindy.
I remember years ago, someone said; “When Sears goes, so goes the country.” Its probably not verbatim, but its close and it looks like it came true. Its all part of our “Untergang”.
That's because, unlike us old fogeys, they didn't spend hours gawking through the Christmas 'wish book'.
When Rosie O'Gross became the loudmouth howling about guns and dissing Tom Selleck (and K-Mart spokesperson), K-mart sales dove. When 'two mommys' popped up in ads for JC Penney's, the nosedive really began in earnest...
Is Sears going to suffer the same fate?
Can't say I have heard anyone say they've had the newer stuff for 20 years or more.
SMDH.....
Dr. Who, maybe.
WHen I was a kid, Sears was 60+ miles away and going there was almost like a trip to Disneyland!..................
Everything that Lands End sells comes with an unconditional lifetime guarantee.
The first fridge died in less than a year, and they did replace it free of charge.
Unfortunately, the replacement model leaked all over the place, ruining our new laminate floor.
I just replaced the dead 6 yo Kenmore dishwasher last week; somehow the Kenmore range got some sort of dirty liquid trapped in the oven glass, which is quite unsightly; the over-the-range microwave never was fully functional, with some of the buttons not working at all (anyone who's ever installed one knows why we didn't just take it down and return it).
It also now has numerous cracks in it, and we do NOT abuse it.
So, after only six years, we're batting a thousand in the kitchen.
I won't go into the problems we've had with the lawn mower we purchased at about the same time...
The other was a toolbox, which I am very happy with.
I avoid Whirlpool after our bad experiences with the Duet line of Washer and Dryer (never again!), and haven't bought any Kenmore appliances because of that.
You got it!
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