I know you can get complacent and forget a few days after a layoff if you were not layedoff. I think so around 150 from HE April '18. Heard this is going to be a quarterly exercise. Just a reminder.
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@5vif Not true....lots of hard working people still working in Hoffman Estates trying to do what they can to better the company. Remember we probably have about 1/3 the people we used to have at Hoffman Estates....same as in the stores.
@3mit; you'd be hard pressed to find those people. Not many left in that organization with morals. The ones that have remained are the unethical ones who scheme, lie, and pass off the hard work of others as their own. If Eddie is constantly wondering why nothing gets done, it's because he gets rid of those who do the work. But the chickens are coming home to roost, and they too will get bounced, as the most unethical of them all is the one "leading" this trash company.
so true... sears is a sh--...
The ones that still have some grasp of morals might be chucking (throwing up) too, actually. ;-)
@2vnq That's because they didn't actually made any REAL profits. It just made them look less sh--ty. In reality it is nothing but smoke and mirrors.
Apologies not chucking but chuckling.
I am actually feeling a bit silly as am associate that they are announcing that they have made a profit based on a one time tax break. Guess all the financial savvy guys must be chucking.
@2xhd Umm no they're not.
Closings are done, we are profitable now.
1upq here. I should clarify. I am being sarcastic about being a day trader, and I certainly don't live in my mama's basement. Everything else I said is true, and I work in corporate. Just looking to get out before the axe falls on all of us.
@1zzc They know what he is doing but there is nothing really they can do to stop them. Though sadly I'm sure a few of them are fooled that they seriously think that all these loans are going towards saving the company. When in reality it is there for Eddie to have a legal right to claim all the properties because the company will default on the debt.
According to the corporate cheerleaders, we are all day-traders sitting at home in our mama's basements.
But at risk of outing myself that way, I will add that continuing to close stores means that they also have to reduce all of the infrastructure behind it, such as logistics distribution centers, advertising, buying, IT, and other functions, both due to reduced need, and reduced money to support those functions. At some point, there will be too few stores to efficiently distribute to, not enough ads in each region to persuade people to shop, not enough buyers and other staff to maintain all of the product lines, and not enough people to support all of the systems.
Then, Sears will no longer be a national retailer, I will make a killing shorting a $2 stock, and I can finally move out of my mama's basement. I wonder if the cheerleader wI'll pick up on the sarcasm. Probably not. So here is the clue: I am being sarcastic.
And the only way we make it to April is if Eddie loans more money at huge interest rates with real estate attached. I can’t understand why people can’t see what he’s doing.
Quoted from Jan 10,2018 Sears Holding Announcement.
" While closing these stores may negatively impact our sales, our actions are aimed at returning the Company to profitability. Furthermore, we expect to generate a significant amount of cash from the liquidation of the inventory and related assets of these stores. Sears Holdings will continue to evaluate strategic options to unlock value from its real estate portfolio"
So in a nutshell Sears Holding will Close Stores continuously until Profitable. The way The Company is talking "Accelerate Return to Profitability" is in short "We need to close unprofitable or little profit stores faster"
100 store closings will probably be a low-ball number for April.
@lap where did you hear another 100 stores are closing? We all know it will happen eventually but are you talking 100 in March? I hope the majority are ringed fenced properties..
Idiots keep posting the same childish comment.
Which VP left?
Also, Don't Forget About The Next 100 Store Closings!
drain the swamp
Working for Sears is a short term proposition. Get your resume polished up and updated... you are going to need it sooner than later. Even our VP left for a competitor....