@nmx exactly right. Fast Eddie is the loan shark and the landlord. He's been laundering the money into his own pockets for years. No supposedly smart guy invests in a business that loses $12B, market share, and sales for 8 years straight otherwise. Instead of investing in the business, he bought stock and paid his investors big dividends, which is why it's a bankrupt failing business today, and he has the gall to blame the retirees. He's a straight up crook through and through.
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@nmx Loans. Lots and lots of loans.
@msn That was all by design. The location and performance of those stores are precisely why they closed, because the real estate of those stores could be sold above market. I think Sears would have been fine (or at the very most, going through minor struggles as all retailers do from time to time) if the best stores were kept open and the poor performing stores were closed, but Eddie wanted to make a quick buck at the expense of this company.
I've had customers tell me that there must be a money laundering scheme going on with Sears because there is no way all these stores could sustain themselves on such poor foot traffic and continue to stay in business. After hearing it a few times from different people, it does make sense. How does a store exist when it barely brings in $2-3k/day on average, $4-5k if it's really "busy"?
Our goal today is 45K, but we will end up making maybe 6K. We cant order some appliances and people are still not in the holiday shopping spirit. My sears gets a lot of traffic, but it's to use our bathroom.
Stores that had tons of customers and great locations closed.
When Eli Wexler screws things up, he does it royally.
I don’t think my store closed any better than the &1,400 dollars either. People are not coming in
Although the rag rah guy from Citi thinks the cashiers should be getting 200 credit apps per day. He’s delusional
It cost Eli Wexler more then 14k a day just to keep his little boat afloat. It just blows to be a billionaire. Can't catch a break.
You're in plenty of company. My store closed at something like $1400 in total sales today. You read that right, fourteen hundred dollars in sales.
I'm at work and I went on pebble and searched it that store is in Escondido, California. Let's all apply at snuggie places.
You have a Snuggie kiosk. I’m so jealous.
I would just quit and work at the Snuggie kiosk if I were you. Maybe they make commission?
Which store is that? If snuggies are doing better than your store it must be bad. LOL