Who in their right mind would want Kmart/Sears management?
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Lenny does not want Kmart/Sears management
B&N same store text sales were up .04% which means unit sales were down about 4%. Still a much stronger performance than ML - DG gave to the Follett family. Lenny smells blood and he is going to take about 20% of Follett's contracts in the next 18 months. Who would want to buy a company that you can just take?
Um B&N is only own 5% which many stocks are down today and their retail revenues were down but college revenues increased. Not the same picture here.
Down.
Follett is in a race to the bottom in a failing retail business. B&N share price declined 10% this morning due to weak sales. Earnings of 12 cents were 5 cents less than estimated. These businesses will continue to shrink significantly over time. Fortunately the job market is improving so please continue your search. Good luck.