Sears 3Q loss widens as retailer reshapes itself

[Omaha Steve]

Source: AP-Excite

HOFFMAN ESTATES, Ill. (AP) — Sears's third-quarter loss widened as the retailer continues to raise cash by closing stores and through loans from Chairman and CEO Eddie Lampert.

Sears had a $159 million income tax expense, compared with a $2 million income tax gain last year.

The quarter mark the retailer's eighth straight year of sales declines and its fourth straight year of losses, according to data from FactSet.

Sears, was once a staple of American shopping, is facing pressure from nimbler rivals like Wal-Mart Stores Inc. and Home Depot Inc., not to mention Amazon.com. The country's slow economic recovery from a terrible recession is his hitting middle and low-income Americans, its core clientele, especially hard.

FULL store at link.



FILE - In this Feb. 22, 2012 file photo, shoppers enter a Sears department store location in Dedham, Mass. Sears Holdings Corp. reports quarterly financial results before the market opens on Thursday, Dec. 4, 2014. (AP Photo/Steven Senne, File)

Read more: http://apnews.excite.com/article/20141204/us-earns-sears-6564d4751c.html

[GOLGO 13]

1. Such a nasty store

Sears is so far down on my radar that it's actually below Wallyworld.

[TreasonousBastard]

2. I agree. Management has decided that making stores...

attractive, like Target does, doesn't count.

It does. The K-Mart near me is a dismal place with lousy lighting and dingy displays. Peeling paint doesn't help, either.

This is too bad, because the merchandise and pricing is pretty good. But, I go there in spite of the store, not because of it.

[bigworld]

3. Sears could have been amazon

They had the mail order infrastructure and warehouses in place, they owned half of Prodigy back in the 1980s, and a great fulfillment operation.They could have easily transitioned into the internet age but instead they sold off their assets one by one for quick cash.

[tomm2thumbs]

5. BINGO! -- greed is no doubt at the very foundation of their demise?

Talk about an example of The Tortoise and The Hare

They were already poised to be on top... but we know how that story ends.

[Thor_MN]

4. "loans from Chairman and CEO Eddie Lampert"

Maybe I'm reading that wrong, but if a loan from ONE employee can have any effect on a corporation, that might just be part of the problem...

[jmowreader]

12. Most "employees" aren't worth three billion dollars

In case anyone wonders why they haven't canned Crazy Eddie yet, this is why: he's got enough cash on hand to prop up his insane shit.

[davidpdx]

6. Sears is screwed

A combination of K-mart buying them, the competitiveness of retail, and waiting so long to update their stores.

[bluedigger]

7. Yet another example of the worthlessness of following Ayn Rand.

Right down the toilet.

[ChairmanAgnostic]

10. Chaos theory ain't just for Tea baggers anymore.

You are exactly right. Their CEO is following the Ayn Rand plan for self destruction. He actually got off on his department heads competing with one another (destructively) and the lame-brained ideas.

[NV Whino]

8. If they reshape themselves any more...

They will have to change their name to transformers.

[bobthedrummer]

9. Sears watched the death watch over Montgomery Ward's-now it's time for SEARS to reinvent failure...

[dembotoz]

11. what shape this time--circle, square, oblong????

clearly management has no clue