The results have been released.
$607 million loss for the 4th quarter.
$2.2 billion loss for the year.
Revenues are down to $22.1 billion for the year from $25.1 billion last year.
Kmart sales have declined 5.3% for the year and Sears sales have declined 9.3% for the year.
They currently have $4 billion in merchandise down from $5.2 billion last year.
$286 million cash on hand.
Today is an exciting day for me, I am a former APM at Sears but I left to be an APM at Walmart. Today is bonus check day for Walmart managers. My bonus at sears was zero Dollars and zero cents per year. Every single benefit is better at walmart. Best decision I ever made in my life was to leave Sears.
Pension Guarantee Trust lets the Craftsman asset go thinking they have enough on hand to cover the potential loss if BK happens.
Good for the Chairman. I love it .
Guessing this stock is owned primarily by two people, the rest by institutional entities and managed funds with managers asleep at the wheel.
Pretty dismal and worse than you would think. That number of 607 million came during the time when most retailers make their profit for the whole year. So that means that SHC lost in the most profitable time of the year. Can't wait for the 1Q 2017 losses.
It is coming.
http://investorplace.com/2017/03/sears-holdings-corp-shld-is-going-bankrupt-sooner-than-later/#.WMF25MuIZnF
Executive management forgot a basic retailing principle years ago when today's disaster might have been avoided. Shoppers want to shop in a clean, well lit, shopper friendly enviroment. K-mart's are literal crap holes. Dirty, minimal aisle displays, few employees, outdated, poor product selection, etc. Doesn't take a Harvard MBA, to recognize this train wreck in slow motion. This Titanic is going down and there is no stopping it. Any analyst that thinks otherwise should send his DeVry degree back.
The PGBC claim is an interesting spin by Lampert. It actually reflects a lien PGBC placed against SHLD assets for breach of covenant; the breach being the inability of SHLD to maintain a minimal market cap.
its a horror show of a financial report- 2 bright spots are selling 3 stores for $105 million and the fact that the dumb pbgc let them keep the initial $575 million from the craftsmen sale- when sears goes bankrupt and the pbgc are whining that they have a pension deficit they can rue the day they let sears keep that money.
It's amazing how Eddie can decline billions in sales, billions in margin and profit, lose lose lose in every single possible category quarter after slow dripping quarter while selling and draining it of every possible asset and then we have to listen to his statements of constant spin saying we had a great year guys, amazing year, they thought we would lose 3 billion and we only lost two and a half.... meanwhile 1000s of people without a job... unreal that the stock holders aren't smart enough to dump it all right now