Sears Says, “$2.4 Billion” In Losses … No Biggie … We Got It …
(there are a few clouds)
Lou D’Ambrosio, Sears Holdings’ CEO/president, said, “It’s also important to distinguish between our earnings issue and the strength of our balance sheet, where we have significant assets and liquidity. We are further strengthening the balance sheet by approximately $1 billion through the actions we are announcing today regarding Hometown, outlet, and hardware stores, a real estate transaction, and inventory reductions.
As we operationally improve the business, we are also accelerating our actions to lead in integrated retail. We are combining our massive retail assets with a set of technology platforms we are building to reshape and deepen our relationships with Shop Your Way Reward members – at the store, online, and in the home.”
You can read more at TWICE.com (CE industry trade magazine).
The Chairman says in an open letter, we’re on it!
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25 February 2012
17 Comments
I hope they dump Mygofer.
Strengthen Shop Your way Rewards – Anyone get any real benefit from that program? I haven’t.
New set of technology – stop using IBM computers from the 80’s in your Kmart stores.
Shop Your Way Rewards — are those the points (dollars) you earn for each purchase? If so, I’ve probably redeemed about $100 in freebies since I signed up.
Yes.
Hey Bozo, you want to strength your balance sheet, try improving your customer service. Until you figure that out, you will continue to go down the tubes.
PS. I’d start the improvement process by replacing Mr. Lou D’Ambrosio.
Bye Bye Sears
Two more (formerly) great American companies gutted and sold off by the pound by a private equity firm… 🙁
The idea of fattening the balance sheet by selling off assets is great until you run out of assets to sell. Then I guess you look for another firm to pillage. “On to the next one.” as Jay-Z would say.
I need to get my hyperbole decoder out to understand statements from these masters of the universe.
Idiots.
Someone needs to remind Mr. D’Ambrosio that the Balance Sheet also includes Net Losses.
Neat.
Or not…
Hey chuki_mama, seeing that John ALWAYS uses “neat”, maybe you should use the word “neato”.
or FIRST NEAT!
Actually I sold chuki_mama the Pacific Northwest franchise to use that comment on new posts. I’m current looking to fill positions in Northern California, Southern California, the Southwest, the Plains States, the Upper Midwest, the Southeast, and the Northeast. The down payment is 1,000 Finn McMissile singles or $1.00, with a monthly charge of 500 Finn McMissile Deluxe packages or $0.25.
Do you have any openings for an International franchise holder? I feel that if I can get in on the ground floor here in the UK I could really clean up.
Who knows if things go well I could look at expanding all over Europe.
I’ve not been successful in getting Paul McCartney to return my calls, so I’ll GIVE you the UK franchise!
😉 Now the “Finn” is out of the bag. 😆
THIS.