Will they keep it going under the 11 filing or will it be shut down with all the other stores? Does it actuall make money for sears? If yes, will stay up. If no, will close immediatly. Would be nice to know if it makes money or not.
14 replies (most recent on top)
Customer FAQ posted on Sears restructuring site this morning says:
"Will my appliances still be serviced by Sears Homes Service technicians?
Yes. Sears Home Services is operating as usual."
So there's the answer for OP, for now.
@ muo
The original question was regarding profitability of Sears Home Services as a separate BU vs the rest of the holdco. SHS has been profitable while most of the rest of the SHC BUs have gone into the red. Each BU has a separate P and L. SSS doesn't figure into the services business.
Profit on paper with accounting trick and real profit are two different things. Just look at the "profit" SHC made in the first quarter and the SSS increase last quarter. Just accounting tricks with losses hidden in the small print.
Thanks for post below!
Should read "claiming," not "aiming." Autocorrect is a pain...
Former Sears Home Services employee here. I don't know where the assertion that the division "hasn't turned a profit in years" comes from, unless the poster is aiming all the business divisions were equally unprofitable as the total holding company. That's simply not true. SHS has been one of the ONLY BU's to turn a profit for at least the past four years. If not for the internal business transfers required by Eddie's extremely short-sighted "warring tribes" / Ayn Rand "collaboration is for the weak" mentality, SHS would have been even MORE profitable than it has been. Anyone with knowledge of the layoff patterns in the overall business knows that SHS kept employees even while the rest of the holding corp was doing rounds of layoffs. Why? So Eddie could skim profits off SHS to keep sinking BU's propped up. Large layoffs within SHS are a much more recent phenomenon. SHS is profitable, and it could continue if a national player stepped up to purchase it. But that's not going to happen, because Eddie has made sure the infrastructure is hamstrung by inefficiency so he could pocket more cash.
Your basing your comment “of a thorough discussion” on one posters comment? Yikes... ok. This thread is not for you then. Glad that one anonymous comment answered it for you.
Now please go unload the truck so the adults can talk. Thank you
Yesterday from @VDoSEHm-lxe in reply to "Is home services a profitable business?":
"No it is not I used to evaluate this unit all of the time it burns money like no other and it’s operational issues are too numerous to fix."
Educate yourself. There are no quarterly or annual info on just the home services division. It is lumped in with other areas.
@VDcG5cr the OP
Read a 10-Q or 10-K SEC filing why should we do the work for you
Need to get educated
YES. It HAS. Keep up! As covered ad infinitum, it has NOT turned a profit in years as discussed at great length yesterday.
Per the Sears 2017 annual report, Home Services does more than 5M service calls annually. That’s over 400k service callS that need to be done each month. Is there any residential-service entity in a position to quickly add that many service calls to its work load?
I will be surprised if Home Services isn’t sold off early in the chapter-11 process.
Bidders?:
ESL
Haier
Whirlpool Service
No it has not. People have talked about it without knowing. The question is simple. Do they make money or lose money? Making money means a lot of people still have a job. Losing money means a lot of people don’t have a job that work for that division. It is absolutely unethical to keep people in suspense like this while they are looking for another job.
This has been addressed at great length. Keep up.