Thread regarding Sears layoffs

Future of Sears Retail is public knowledge

If you follow Seritage you will see how property by property is slowly being turned over and how Crazy Eddie is making significantly more money swapping out $4/sq ft Sears leases for $12-18/sq ft 3rd party leases. Look at Seritage's June report on how they are already reclaiming and have site plans for properties that Sears retail is still operating at. Watching and Middletown NJ locations for example. A smaller square foot Sears retail format is definitely were we are heading if your location remains open at all. It will be interesting to see though how Amazon starts playing into the retail strategy and also the fate of a SYW program. One thing is for sure, Sears does have a very valuable database of customer knowledge that Amazon would love to gain access to.

http://ir.seritage.com/Cache/1500100572.PDF?O=PDF&T=&Y=&D=&FID=1500100572&iid=4584761

by HPD
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Post ID: @OP+OJ95BYh
Comment! It's anonymous!

5 replies (most recent on top)

Eddie is receiving great interest on the money he has loaned. He is about even on his investment here considering all spin offs etc. Not a good record for 13 years

by Anonymous
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Post ID: @2msk+OJ95BYh

Eddie is making money off those spaces that were actually sold. However, SHC is still s---ing him dry. I would be amazed if he's actually pulling much of a profit overall. He owns so much of sears that when sear's value declines he himself loses quite a bit of money. Hence why he's doing all kinda of ridiculous things to keep it alive so he can get his money back.

by Anonymous
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Post ID: @2vkh+OJ95BYh

Not sure how valuable SYW is since employees and customers have muliple accounts and there are fake sign-ups being done to meet metrics. Probably about half the people on a SYW list do not exist.

by Anonymous
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Post ID: @gry+OJ95BYh

Sounds like our store but we are supposedly profitable because the other retailers in the building are paying rent to make up for no customers and sales in our store. Seritage looks at the building as a whole to determine profitability for the Sears store.

by Anonymous
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Post ID: @frd+OJ95BYh

I visited one of the SRG small stores that had ben remodeled and had appliances, mattresses ,tools and home and garden. Not one customer in the store

by Anonymous
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Post ID: @nuk+OJ95BYh

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