Thread regarding Sears layoffs

@Sbj1G61-1xjm Good let this joke of a company die already.

No matter how you slice it, that heavy chunk of debt is dragging it down.

Well the media and the stock market isn't falling for it. Seems everyone is stuck on that pesky 18% drop in same store sales and 28% revenue drop.

@1krc Sears is desperate for any sort of "positive" news so they'll spin it and make it sound bigger than it really is.

And now the stock is on the way down again. Yeah...transformation...

This thread is hilarious- comedy for the morning. How is Sears’ transformation working if the only reason it shows a small profit was because of the one-time tax reform cash? That’s like if you are broke and going homeless and someone hands you $50. Ooooh man, I’m moving on up!!

Being Mid-March and the January Store Closings wrapping up in the next few weeks, the store liquidators should be getting their next assignments soon. My low ball guess would be another 40-65 Stores announcement by Mid April with closing dates for late July. When my store closed over 2 years ago, the rumor was Eddie was going to close any store that did not do close to a million in profit per year. But again that was 2 years ago and sales are still declining, it might be a quarter of that figure now.

Fourth quarter Kmart Comparable Store Sales down 12.2%

" " Sears Comparable Store Sales down 18.1%

" " Total Comparable Store Sales down 15.6%

It's a good news, the transformation might be working even if it looks slow and small for now.

I think SHLD will become profitable in 2019 and will keep most of it's stores even if there will be less than 1000 opened.

@1kza Closing stores does not raise money, selling real estate does. Except when there's already another tenant lined up - which is rare for most Sears properties to be in demand, since there's a ton of vacant retail space in better shape in better locations - selling the property with Sears continuing to lease it (the store staying open until Sears can't pay the rent) is more desirable to buyers.

@Sbj1G61-1dcz Ouch man closed over 400 stores within an year and people still think their is hope for this company lol...

I can believe we are left with one thousand stores wouldn't be surprised if more are closing soon enough to raise more capital.

Back to 2500 stores soon!

Thanks for your loyal support!

432 Kmart 547 Sears 23 Specialty as of Feb 03 2018 1,002 stores

735 Kmart 670 Sears 25 Specialty as of Jan 28 2017 1,430 stores

The day the last of the real estate is sold the transformation will be complete.

@Sbj1G61-1wko I don't think we are that far away no? I mean didn't they do lots of cuts this past January because no one wanted to give Sears another loan? At this point Eddie knows that assets for his collateral are just running thin soon when their isnt anything to back his loan up he will just call it a day.

From the financials, a nice quote by Eddie:

"We also recognize that we need to do more if we are to deliver on our commitment to return to profitability in 2018. We will work to build on the progress we made in 2017, including ongoing actions to improve or close unprofitable stores and to unlock the value in our assets. Importantly, to ensure our long-term viability, we must substantially improve our sales and gross margin performance, including adjustments to our business model."

Seems like Eddie thinks that there will be more store closings, more store sales, cuts and more of the same.

Get out while the getting is good.....Once Sears declares bankruptcy and thousands of associates are out of a job, it will be harder to find a job with thousands of others looking for jobs as well.

We will be in Toys R Us's position eventually. Can't say when, but wait until we are running on fumes again. We still have the cash burn. What is left to sell? When will Eddie say "enough" with the loans?

"Net income attributable to Holdings' shareholders was $182 million for the fourth quarter of 2017, WHICH INCLUDED A NON-CASH TAX BENEFIT OF APPROXIMATELY $470 MILLION RELATED TO TAX REFORM, AS WELL AS A NON-CASH ACCOUNTING CHARGE OF $72 MILLION RELATED TO THE IMPAIRMENT OF THE SEARS TRADE NAME."

SHLD original guidance was a loss of $200 to $300 Million... They were dead on!!!

• $3.2 Billion in debt

• $182M in Cash & Equivalents on hand

• SAME STORE SALES DECLINE 16%

Yep, way to go on the Transformation!!!

Glad Sears is making progress but read the all the releases. Sears said they are going to make $200 million more in cuts this year without closing stores. The last time they said that there were lots of layoffs and reorganizations within store staffing. Remember all the ASM's and Leads who were let go as well as full timers? At the time they said more reorganizations were coming. Myself, I have survived so far but became part of Store Support. We all know how that is working out. NOT!

Great news and quite a relief to many of us, congratulations Eddie.