Not as big as it was before certainly, over 2000 stores at peak, but 400 stores is still a very large chain. Don't write them off just yet. 400 stores will be easier to turn around than 800.
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Eddie wants to shut it all down!
"400 stores will be easier to turn around than 800." Then again, zero stores would be an absolute cinch to turn around.
Eddie has said:
Majority of leased stores have expirations of less than four years.
Options to renew leases on many stores for more than 25 years.
Kmart is gone. Most are leased and SHC is not renewing leases unless they can sell the lease, which can be profitable. Our store closed a year ago and we were number 2 in sales and profit in our district. Our store was leased and they sold the lease to a D--k's sporiting goods store.
Well, perhaps but the point is they have a better chance of being sold off if they are a smaller chain with better metrics than a large chain with poor metrics. Perhaps the best of Kmart has been saved. Not all Kmarts are equal, some are better than others. Don't judge the entire chain by one or two stores. The poorer, but profitable stores can be fixed.
Sold off....that's a good one.
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And the only turnaround will be who they're sold off to