No safe stores?

I'm amazed that fast eddy is actually pulling this farce off.

We all know there are no profitable stores and has been that way for many years.. Decline in foot traffic, blah products, drab advertising, same sale gimmicks year after year..so why wd a "safe" store all of a sudden become a closing store? What happen to those stores to all of a sudden become unprofitable stores and pop up on the most recent list of 40 store closings, especially the ones in Puerto Rico which I had heard were profitable... Did eddys crew mistakenly include Puerto Rico stores that were ruined in the hurricane in the original bk lists?

In the end, the 400 or so stores on the "safe" list will also close because all along its been about the real estate under the store

Just like the 7 mile and middlebelt store in Livonia is on the safe list, in my opinion because it's on a prime piece of real estate on the corner.. A very large piece of property.. The satire is huge and still looks like it did from the 70,s on the outside..are the also counting the $500,000.00 loan on that store.. What was that money used for? Certainly not on that store

No store is safe!! In the end the 400 will be auctioned off and eddy probably will win the bid for those safe stores..

I just wish they would hurry up with the designated stores and announce their closing so everyone knows for fact there is NO future at Sears beyond possible Feb or March 2019.

Originally posted on another thread by @W5TmOZe-ppp

Comment! It's anonymous!

3 replies (most recent on top)

No Sears store is profitable using GAAP which is the industry standard. EBITDA accounting method is incomplete and used to mask a bad company's financials and lack of profitability.

@baf - Are those stores considered profitable by the EBITDA accounting method or by the GAAP accounting method? SHLD always seems to tout the EBITDA method and its results.

"A common misconception is that EBITDA represents cash earnings. EBITDA is a good metric to evaluate profitability but not cash flow. EBITDA also leaves out the cash required to fund working capital and the replacement of old equipment, which can be significant. Consequently, EBITDA can be used as an accounting gimmick to dress up a company's earnings. When using this metric, it is key that investors also focus on other performance measures to make sure the company is not trying to hide something with EBITDA."

https://www.investopedia.com/terms/e/ebitda.asp

There are a few profitable stores, probably no where near what is needed to sustain the company. I know offhand from being a little nosy when I worked for Sears up u til my store closure this last July. Mesquite, Tx was hugely profitable by over 1.5 Million a year and the same was true with Coral Gables, Fl also profitable by over 1.5 Million.

Thread regarding Sears layoffs

No safe stores?

3 replies (most recent on top)

Post a reply