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Old 05-31-2018, 02:32 PM
 
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I doubt Sears will see 2019. Seems like these closing lists are coming out after every money losing quarter now.
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Old 05-31-2018, 04:43 PM
 
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Originally Posted by vistatiger View Post
I doubt Sears will see 2019. Seems like these closing lists are coming out after every money losing quarter now.
Around the hole and down the bowl! At least Lampert & Co made it look like they were in restructuring mode! Barbarians at the gate.

Last edited by 5ForksSC; 05-31-2018 at 04:44 PM.. Reason: Sp
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Old 05-31-2018, 05:57 PM
 
Location: 352
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Originally Posted by vistatiger View Post
I doubt Sears will see 2019. Seems like these closing lists are coming out after every money losing quarter now.
Only thing is people were saying in 2008 that Sears wouldn't see 2009. Fact of the matter is that KMart/Sears is basically a real estate company at this point. Doesn't typically matter how good or bad the store is doing, they just want to liquidate their assets and cash out. When the right offer comes along for Haywood, they'll finally close up shop and Simon can hopefully totally transform that space.
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Old 05-31-2018, 10:52 PM
 
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Originally Posted by Jandrew5 View Post
Only thing is people were saying in 2008 that Sears wouldn't see 2009. Fact of the matter is that KMart/Sears is basically a real estate company at this point. Doesn't typically matter how good or bad the store is doing, they just want to liquidate their assets and cash out. When the right offer comes along for Haywood, they'll finally close up shop and Simon can hopefully totally transform that space.
Partly true. But more of a victim. The investors made out nicely. Shareholders, not so much. I say Q 1 19. They’re broke No more credit.
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Old 05-31-2018, 11:11 PM
 
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Partly true. But more of a victim. The investors made out nicely. Shareholders, not so much. I say Q 1 19. They’re broke No more credit.
Yes. It's a little more dire than it was in 2008. They don't have many assets left to sell and they have had 6 straight years of losses. I think I read where they lost 425 million alone in Qtr. 1 this year. That can't continue much longer. What's the old saying - burning the furniture to heat the house or something like that.
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Old 05-31-2018, 11:14 PM
 
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Originally Posted by vistatiger View Post
Yes. It's a little more dire than it was in 2008. They don't have many assets left to sell and they have had 6 straight years of losses. I think I read where they lost 425 million alone in Qtr. 1 this year. That can't continue much longer. What's the old saying - burning the furniture to heat the house or something like that.
Pretty much. Economic Darwinism. The bonds are junk.
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Old 06-05-2018, 07:36 AM
 
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Originally Posted by vistatiger View Post
Yes. It's a little more dire than it was in 2008. They don't have many assets left to sell and they have had 6 straight years of losses. I think I read where they lost 425 million alone in Qtr. 1 this year. That can't continue much longer. What's the old saying - burning the furniture to heat the house or something like that.
In this case, the executives are burning the company's assets to feed their own bank accounts. The fact that you can raid a company for money while burning it to the ground is a failure of our current economic system. Those that control a company should be working for the best long term interests of the company, not for the short term interest of their own wallet.

On a side note, I read recently that Craftsman hand tools will be sold at Lowes Home Improvement stores starting next year. I hope the warranty on my existing tools will be usable at Lowes - that will be a big improvement from Sears.
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Old 06-05-2018, 08:21 AM
 
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Originally Posted by WhitewaterVol View Post
In this case, the executives are burning the company's assets to feed their own bank accounts. The fact that you can raid a company for money while burning it to the ground is a failure of our current economic system. Those that control a company should be working for the best long term interests of the company, not for the short term interest of their own wallet.

On a side note, I read recently that Craftsman hand tools will be sold at Lowes Home Improvement stores starting next year. I hope the warranty on my existing tools will be usable at Lowes - that will be a big improvement from Sears.
I saw that about Craftsman too. Surprised Lowes's hasn't acquired Kenmore for their appliance business. Isn't Sears leadership trying to acquire that too before the end?
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Old 06-06-2018, 03:56 PM
 
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I noticed today the Save-a-Lot/RiteAid on Wade Hampton across from Dunkin Donuts has closed. Looks like they had a liquidation sale by the signage and Walgreens transferred the prescriptions to their nearby store.
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Old 06-06-2018, 04:53 PM
 
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Originally Posted by vistatiger View Post
I noticed today the Save-a-Lot/RiteAid on Wade Hampton across from Dunkin Donuts has closed. Looks like they had a liquidation sale by the signage and Walgreens transferred the prescriptions to their nearby store.
Simpsonville main & 14 winding down. Closing soon.
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