SEARS POSTS ANOTHER HORRIFIC QUARTER

The FABULOUS results from dying retail dinosaurs keep pouring in. Here is a direct quote from CEO Eddie Lampert:

“Sears Holdings made progress in 2012 improving the profitability of our business.”

Sears lost $1.1 BILLION in 2012. This is considered progress in the world of Eddie Lampert. What a joke. He is so happy that Ron Johnson exists, so he isn’t considered the worst retail CEO in U.S. history.

Here is a link to the awful Sears results:

http://finance.yahoo.com/news/sears-holdings-reports-fourth-quarter-110000658.html

Here is my assessment:

  • Sales fell by 2%, even with an extra week. This means on a comparable basis their sales fell 9.7% versus last year.
  • Eddie managed to lose $617 million in one quarter, beating out JC Penney’s $552 million loss.
  • Comparable store sales fell 1.6% and gross margins were flat.
  • The balance sheet is a disaster. He has $600 million of cash and he has $1.2 million of debt due in the next year.
  • His long term debt obligations total $8 billion and his shrinking equity totals $3.2 billion. He managed to lose $1.1 billion for the year.

There are 2,500 Sears/Kmart stores in the country. There are hundreds of thousands of employees. Not for too much longer.

 

COMING TO A MALL NEAR YOU

 

 

SEARS EMPLOYEES

 

5 thoughts on “SEARS POSTS ANOTHER HORRIFIC QUARTER”

  1. I’m sure Walmart is thinking “If we can only hang on, soon we will be the last man standing and our evil plan of world domination will be complete.”

     
  2. Sears. The last time I set foot in that store was last Christmas, didnt buy anything or see anything worthwhle, was just walking indoors since it was to cold to walk outside. Thank Hebbub Abub for Malls.

     

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