We lost $950 million in three months.
24 replies (most recent on top)
And it should have been worse.
Many vendors did not get paid 30-90 days prior to 10/15
@2gly - You speak the truth! At our store liquidation customers were in a frenzy, buying cart loads of merchandise at just 10% off.
"You don't have to discount 80%+ if you figure out how to keep the store going another month or so."
Um, most stuff sells at liquidation sales waaaay before it hits 80% off, even before it gets below normal non-liquidation sale prices in many cases, due to uninformed customers swarming anything with a going-out-of-business sign.
Do people really need to hire liquidation advisors to lose $950M? Qny id--t could have told Eddie that if you opened the stores a little longer and discounted less, you wouldn't have lost nearly a billion dollars in 13 weeks. You don't have to discount 80%+ if you figure out how to keep the store going another month or so. It shouldn't be that hard, it's not like the store is going anywhere.
You can sell a metric ton of $20 bills for $10 and lose a lot of money doing it. That's basically Eddie's entire game plan.
Out DATG sales will save us......
Oh wait, there was no effort to drive sales ever under EL
Losing $300,000,000.00+ a month. Going concern my butt.
MAGA!!! Just trollin'
9 month loss
Loss Oct 28 2017 (561)
Loss Nov 03 2018 (1882)
3 month (13 week) loss
Loss Oct 28 2017 (556)
Loss Nov 03 2018 (950)
Even fast wooddies financial trickery can't sustain this
And how will this affect the bonuses of those 18 top dogs? I think docket#1219 approved them with a few changes
But, but comparable sales are up lol.
Drain the swap. Now 501.
"Ha ha ha..Drain the swamp..."
What is this now, the 500th time now that that statement has been posted on this board?
Lame.
as of 11/3/2018 434 Sears stores vs 594 as of 10/28/17 160 less
as of " 332 Kmart stores vs 510 as of " 178 less
Closing 241 stores total in fourth quarter 525 left at end of quarter
Pretty much on schedule I guess
What a f---ing disgrace. Why Leena Munjal still has a job is astonishing.
SO MUCH WINNING!!!!
THANKS EDDIE!!!
THANKS TRUMP!!!
MAGA (Am I right???)
10-q was released hours ago. You have to search for this stuff now that we are in Chap. 11
I love the post about Folgers Coffee. But I also like the one where someone asked if maybe he is just effing with everyone. But that would be more believable in a Twilight Zone Episode.
I smell immediate total liquidation soon
When were earnings released? Is this public information?
Stick a fork in them, they are done.
So close to a billion, way to leave the putt short Eddie!
Hahaha!!!!! Drain the swamp!!!!
Holy sh--balls...
Oh baby...the bilge pumps be a backing up