How much cash in hand?
11 replies (most recent on top)
Eddie is not trying to save the company... he is actually trying his best to destroy it so he gets the assets... store closures are NOT based on store success... DO YOU UNDERSTAND???
Online sales....are you kidding me? The online experience is horrible. Look at the reviews.... 999 out of 1000 people say NEVER DO BUSINESS WITH SEARS OR KMART AGAIN. The negative perception of Sears/Kmart online sales is killing the company even faster.
Looking good ???? A 508 Million Dollar loss in 3 months. What exactly looks good about that?
Fewer stores, fewer shoppers, less revenue from retail sales, no store improvements, dying malls, failing infrastructure, fewer hours for employees, no raises, demoralized associates, increasingly terrible reviews on p1ssedconsumer, BBB, and Consumer Affairs....doesn't matter how much cash on hand or how much the line of credit is. The remaining stores would have to turn that $508 million quarterly loss into a $500 million quarterly gain to even start to turn things around.
@V8EWt5n-can: The thing about a line of credit is, it has to be paid back at some point, as well as interest all along. How can they ever pay the debt off with less revenue all the time?
Not much longer.....more store closures are sure to be coming. So with less retail space and less revenue there will less money coming in to keep things going. At this rate very soon that (over $1 billion) line of credit will be the main income source. When an operating loan is your main source of income that is not good at all. It might be true that SHLD beat the revenue estimate, but it's like saying that a new shuffleboard court was installed on the Titanic as it was already pretty much under the water.
How long does 124m last for a company hemorrhaging money the way Sears is. At least the people working there have a little longer of a plank to walk on. But the way the company was acting, it did seem like the end was nigh.
The stock will have a short-lived bump, but they haven't resolved the underlying issues, as they pointed out themselves.
they have 193 m in cash , net availability on credit facility is 98 and short term borrow basket is 650
total liquid is 941 million , with losses like half a billion a quarter the unsustainable cash burn continues
This is the best explanation
Paul24 seconds ago
Total snow job. The “2nd quarter earnings” reference transactions (borrowing) on Aug 30, Aug 31, and Sept 12. Pension forbearance, during that time. They have roughly $124 million in cash left, and their market cap is $144 million. It’s bad news anyway you try and spin it. Without an asset sale, loan or otherwise a cash infusion, they won’t have any choice but bankruptcy by November .......
and all the hoax about cash crunch
Then why do people keep shouting about bankruptcy here?