Sears Holdings
28 декабря 2017, 23:33

The Shocking Amount of Money the Most Hated CEOs Make Every Year

These CEOs definitely believe nice guys finish last. They are hated and still raking in huge paychecks.

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23 декабря 2017, 21:59

Kmart must pay $59 million in drug fraud settlement

Kmart and its parent company, Sears Holding Corporation, have settled a $59 million case over allegations of prescription drug fraud made more than a decade ago.

21 декабря 2017, 23:33

Hold Stanley Black & Decker (SWK) Stock Now: Here's Why

Stanley Black & Decker (SWK) is well-poised to gain traction from strong tools business, a wide product portfolio and synergies from buyouts. Industry competition and rising costs remain concerns.

19 декабря 2017, 17:30

Can Amazon's Stock Sustain its Success in 2018?

It's been a year of steady gains for the online behemoth with Amazon moving from a position of strength to one of dominance.

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07 декабря 2017, 16:31

Sears Gains After Investor Asks Chain to Consider Going Private

Sears Holdings Corp. gained as much as 8.7 percent in early trading after investor Memento SA recommended the retailer consider going private, saying that “excessive” short selling has hammered the stock....

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04 декабря 2017, 15:10

Why Sears' Sales And Earnings Reports Make Me Cry

Sears Holding reported 24th quarter of lower sales and heavy losses. Eddie Lampert closes stores but looks for new Appliance and Mattress stores to add momentum. I see the demise of a proud brand..

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03 декабря 2017, 00:34

Sears Holdings Is Doomed Unless Sales Recover

Sears' third-quarter earnings report wasn't nearly as positive for the company as management wants investors to believe.

01 декабря 2017, 17:27

What Can Target Learn From Wal-Mart's Retail Game?

Even though Target may be doing similar things, it is missing out on the speed and scale of Wal-Mart.

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30 ноября 2017, 16:05

Компания Sears отчиталась о квартальном убытке

Американский ритейлер Sears Holdings отчитался о квартальном убытке и снижении продаж за отчетный период. Так, в третьем фискальном квартале с окончанием 28 октября чистый убыток компании снизился с $748 млн годом ранее до $558 млн. Стоит отметить, что согласно прогнозу самой компании ожидался убыток в диапазоне $525-595 млн. При этом сопоставимые продажи в магазинах Sears в рассматриваемом периоде упали на 17% г/г, а аналогичный показатель сети Kmart уменьшился на 13% г/г в связи с закрытием аптек, расположенных в магазинах, а также снижением числа единиц представленной на витринах электронной продукции.

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30 ноября 2017, 15:59

Компания Sears отчиталась о квартальном убытке

Американский ритейлер Sears Holdings отчитался о квартальном убытке и снижении продаж за отчетный период. Так, в третьем фискальном квартале с окончанием 28 октября чистый убыток компании снизился с $748 млн годом ранее до $558 млн. Стоит отметить, что согласно прогнозу самой компании ожидался убыток в диапазоне $525-595 млн. При этом сопоставимые продажи в магазинах Sears в рассматриваемом периоде упали на 17% г/г, а аналогичный показатель сети Kmart уменьшился на 13% г/г в связи с закрытием аптек, расположенных в магазинах, а также снижением числа единиц представленной на витринах электронной продукции.

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29 ноября 2017, 01:30

Recovery? We Have Tripled The Number Of Store Closings From Last Year...

Authored by Michael Snyder via The Economic Collapse blog, Did you know that the number of retail store closings in 2017 has already tripled the number from all of 2016? Last year, a total of 2,056 store locations were closed down, but this year more than 6,700 stores have been shut down so far.  That absolutely shatters the all-time record for store closings in a single year, and yet nobody seems that concerned about it.  In 2008, an all-time record 6,163 retail stores were shuttered, and we have already surpassed that mark by a very wide margin.  We are facing an unprecedented retail apocalypse, and as you will see below, the number of retail store closings is actually supposed to be much higher next year. Whenever the mainstream media reports on the retail apocalypse, they always try to put a positive spin on the story by blaming the growth of Amazon and other online retailers.  And without a doubt that has had an impact, but at this point online shopping still accounts for less than 10 percent of total U.S. retail sales. Look, Amazon didn’t just show up to the party.  They have been around for many, many years and while it is true that they are growing, they still only account for a very small sliver of the overall retail pie. So those that would like to explain away this retail apocalypse need to come up with a better explanation. As I noted in the headline, there are 20 different major retail chains that have closed at least 50 stores so far this year.  The following numbers originally come from Fox Business… 1. Abercrombie & Fitch: 60 stores2. Aerosoles: 88 stores3. American Apparel: 110 stores4. BCBG: 118 stores5. Bebe: 168 stores6. The Children’s Place: hundreds of stores to be closed by 20207. CVS: 70 stores8. Guess: 60 stores9. Gymboree: 350 stores10. HHgregg: 220 stores11. J.Crew: 50 stores12. JC Penney: 138 stores13. The Limited: 250 stores14. Macy’s: 68 stores15. Michael Kors: 125 stores16. Payless: 800 stores17. RadioShack: more than 1,000 stores18. Rue21: up to 400 stores19. Sears/Kmart: more than 300 stores20. Wet Seal: 171 stores If the U.S. economy was really doing well, then why are all of these major retailers closing down locations? Of course the truth is that the economy is not doing well.  The U.S. economy has not grown by at least 3 percent in a single year since the middle of the Bush administration, and it isn’t going to happen this year either.  Overall, the U.S. economy has grown by an average of just 1.33 percent over the last 10 years, and meanwhile U.S. stock prices are up about 250 percent since the end of the last recession.  The stock market has become completely and utterly disconnected from economic reality, and yet many Americans still believe that it is an accurate barometer for the health of the economy. I used to do a Black Friday article every year, but I have ended that tradition.  Yes, there were still a few scuffles this year, but at this point the much bigger story is how poorly the retailers are doing. So far this year, more than 300 retailers have filed for bankruptcy, and we are currently on pace to lose over 147 million square feet of retail space by the end of 2017. Those are absolutely catastrophic numbers. And some analysts are already predicting that as many as 9,000 stores could be shut down in the United States in 2018. Are we just going to keep blaming Amazon every time another retail chain goes belly up? What we should really be focusing on is the fact that the “retail bubble” is starting to burst.  In the aftermath of the last financial crisis, retailers went on an unprecedented debt binge, and now a lot of that debt is starting to go bad. In fact, in a previous article I discussed the fact that “the amount of high-yield retail debt that will mature next year is approximately 19 times larger than the amount that matured this year”.  This is going to have very serious implications on Wall Street, but very few people are really talking about this. Most stores try to stay open through Christmas, but once the holiday season is over we will see another huge wave of store closings. And as individual stores close down, this will put a lot of financial pressure on malls and shopping centers.  Not too long ago, one report projected that up to 25 percent of all shopping malls in the entire nation could close down by 2022, but I tend to think that number is too optimistic. The retail industry in the United States is dying, and the biggest reason for that is not Amazon. Rather, the real reason why the retail industry is in so much trouble is because of the steady decline of the middle class.  The gap between the ultra-wealthy and the rest of us is greater than ever, and we can clearly see the impact of this in the retail world. Retailers that serve the very wealthy are generally doing well, and those that serve the other end of the food chain (such as dollar stores and Wal-Mart) are also doing okay. But virtually all of the retailers that depend on middle class shoppers are really struggling, and this is going to continue for the foreseeable future. Most American families are either living paycheck to paycheck or are close to that level, and these days U.S. consumers simply do not have much discretionary income to play around with.  More hard working Americans are going to fall out of the middle class with each passing month, and that is extremely bad news for a retail industry that is literally falling apart right in front of our eyes. *  *  * Michael Snyder is a Republican candidate for Congress in Idaho’s First Congressional District, and you can learn how you can get involved in the campaign on his official website. His new book entitled “Living A Life That Really Matters” is available in paperback and for the Kindle on Amazon.com.

28 ноября 2017, 01:45

Could Trump's Tax Bill Trigger A Mass Exodus From Manhattan? Goldman Seems To Think So...

New York's billionaire hedge fund managers have blazed the trail south in recent years with the likes of David Tepper, Paul Tudor Jones and Eddie Lampert all ditching the Empire State for Florida...a state which brings not only pristine beaches and year-round golf weather but also the added benefit of a 0% personal income tax rate.  Meanwhile, as Bloomberg once again points out this morning, the decision to ditch the over-taxed states of New York, New Jersey and Connecticut will be even easier if Trump's tax plan succeeds in eliminating the state and local income tax deduction...a deduction which could cost a New Yorker making $1,000,000 a year a cool $21,000 in extra taxes. The problem for the Connecticut hedge-fund set -- and, more broadly, for a lot of the Wall Street crowd -- is that Republican proposals in both the House and Senate would drive up taxes for many high-earners in the New York City area. By eliminating the deduction for most state and local taxes, an individual making a yearly salary of $1,000,000 -- a figure not uncommon in the financial industry -- would owe the Internal Revenue Service an additional $21,000, according to a preliminary analysis by accounting firm Marcum LLP.   “It would almost be irresponsible if you weren’t thinking about moving,” he said.   Not surprisingly, Miami is exploiting the potential tax change to woo Manhattan's most successful "millionaire, billionaire, private jet owners" (to cite Obama) as Miami's luxury real estate agents say they're having a hard time keeping up with the sudden surge in demand. The Miami Downtown Development Authority is throwing a party next month during the annual Art Basel show, and Nitin Motwani, a real estate developer, has invited wealthy Northeasterners who’ve expressed interest in moving to the area. Because the proposed tax changes are practically begging them to relocate, Motwani expects a crowd.   State and local taxes, also called SALT, “can and should be a major catalyst,” said Motwani, a development authority board member. Tax reform will “certainly be something we’re highlighting” at the party, in the Perez Art Museum. “Inertia is a tough thing, but you add on another tax bill and maybe that pushes you over the edge.”   Jeff Miller, director of luxury sales for Brown Harris Stevens in the Miami area, said he’s fielded a half-dozen calls from clients motivated by higher taxes to step up their search for South Florida property.   Two clients who work at New York City financial firms have scheduled tours of a newly completed 7,000-square-foot (650-square-meter) home on the Venetian Islands, Miller said. The $22.5 million asking price buys views of Biscayne Bay and a spot to moor a yacht.   “Usually it’s a snowstorm that would push them to pick up the phone,” Miller said. “The tax plan has the same effect.” So what does this mean for the overall impact on domestic migration patterns?  Well, Goldman figures that the changes currently contemplated on the Senate bill could ultimately result in 2-4% of Manhattan's top earners relocating to lower taxing jurisdictions... The increased effective tax differential between high- and low-tax areas may increase movement from the former to the latter. Exhibit 4 shows the increase in effective tax rate differentials for a few relevant pairs of states. For instance, we estimate that the TCJA would increase the gap between the combined S&L income tax rates in New York City vs. Connecticut by about 2pp to 5-6%. States with zero income tax such as Texas and Washington would experience the largest gains in relative tax competitiveness. The simple median increase in the tax gap across the six illustrative pairs is a bit above 1.5pp.   For our initial analysis of the potential migration effects, we review the academic literature on taxes and mobility. The reviewed studies shown in Exhibit 5 focus on high-income earners, because the literature tends to ?nd only small tax effects among lower- and middle-income earners. The studies are mixed, but the median study suggests a 2% decline in the number of top-income earners after 3-10 years per percentage point increase in the tax rate gap. Combining this median 2% mobility estimate with the 1-2 percentage point increase in the tax gap between New York City and New Jersey/Connecticut suggests that the TCJA would eventually lower the number of top-income earners in New York City by 2-4%, for example. ...and if that's not at least somewhat concerning to legislators in Albany, Trenton and Sacramento...it should be. Tepper, who heads Appaloosa Management, relocated to Miami Beach in 2015 from Short Hills, New Jersey. Jones kept Tudor Investment Corp. in Greenwich, Connecticut, when he moved to Palm Beach, Florida, last year. In 2012, Lampert, best known as Sears Holdings Corp.’s chief executive officer, took his hedge fund to Miami from the same tony Connecticut town.   State budgets feel the impact. When Tepper moved his firm to Florida, forecasters warned it could jeopardize New Jersey’s budget because the firm generated more than $100 million in state income tax. In 2013, state income tax generated by residents of seven of the wealthiest towns in Fairfield County amounted to $1.8 billion, according to the Hartford Courant, or about 9 percent of the Connecticut state budget.   “There is a certain amount of burying one’s head in the sand and naivete in Hartford,” Connecticut’s capital, McGuire said. “I don’t think they believe it can happen.” Oh well, it's not as if New Jersey is teetering on the edge of solvency courtesy of a massively underfunded public pension ponzi...

27 ноября 2017, 08:58

11 Department Stores Are Totally Failing to Attract Customers

Shopping options will get extremely limited if these struggling department stores go out of business.

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25 ноября 2017, 22:46

Black Friday Sales Buoyed by 'Blessed' Cold Weather

Content originally published at iBankCoin.com The media is working over time to give retailers good press, seeing that they're all but destroyed now. Long stories filled with anecdotal quotes from store managers litter the internet today, exclaiming the virtues being able to touch and feel items on sale, as opposed to merely buying them via Amazon. Who does that anyway, buy items online? Poppycock. According to all media reports, retailers are back to banking coin again. But don't tell the shareholders of M, JCP or SHLD, whose stock values have dropped by more than 40% for 2017. I'll have you know, the cold weather in the northeast has 'blessed' them and people are throwing sharp elbows at each other with the hopes of being able to snag a discounted coat or two, maybe a sweater. A Macy's spokeswoman later confirmed that more than 16,000 people were lined up outside the Herald Square store before it opened Thursday evening. By 7 a.m. Friday, Macy's had already sold 200,000 coats, and was on track to sell more than 1 million coats, sweaters and fleece jackets by the end of the weekend.   The Northeast has been "blessed ... with cold weather," Gennette told CNBC.   Despite all of this 'touch and feel' nonsense, online sales continue to surge, slowly but surely designating department stores as showcases for Amazon.   Black Friday online spending was a record $5.03 billion, up 16.9 percent over last year, according to Adobe Systems Inc. Much of that shopping is now occurring on phones, with mobile devices accounting for 54 percent of visits. Adobe said it expects Cyber Monday to be the biggest online shopping day in history, with $6.6 billion in predicted sales, a 16.5 percent increase over 2016. The media headlines cannot give the brick and mortar retailers enough praise. Here are two wonderful headlines from CNBC and Bloomberg, one featuring what looks like my neighbor. And physical store traffic looks to be down anywhere from 4-6%.   Physical-store traffic, meanwhile, was down 4 percent to 6 percent, Cowen & Co. analyst Oliver Chen estimates.   Retailers have tried to avoid becoming showrooms for Amazon, meaning customers look at products in their stores and then buy it from the e-commerce giant. To keep shoppers from straying, Wal-Mart and others have pumped billions into their web operations.   Sights and Sounds   Macy’s overhauled its rewards program, aiming to keep consumers loyal regardless of whether they’re online or off. A customer who shells out at least $500 a year gets free shipping and 25 percent off a day of shopping.   But the 159-year-old chain also is touting its traditional retail experience as a way to hook shoppers.   “Customers today want to go to a store -- the sights, the smells, the sounds,” Chief Executive Officer Jeff Gennette said in an interview Friday.   Some retailers have more of an uphill battle. Sears Holdings Corp. saw same-store sales fall 17 percent at its flagship chain last quarter and 13 percent at its Kmart brand.   At a Sears in upstate New York, a quiet store greeted 47-year-old Nadine Charles on Friday. She’s been a regular Sears customer for years, but feels like the selection has gone downhill.   “I don’t find anything good anymore at Sears,” said Charles, a nurse with four children. “They don’t have good brands. Now I can buy things in Wal-Mart -- they are cheaper and last longer.”   Please.

25 ноября 2017, 03:50

As America Gave Thanks, Homelessness Set New Records In Major Cities All Over The Nation

Authored by Michael Snyder via The Economic Collapse blog, If the economy is doing just fine, then why is homelessness at levels not seen “since the Great Depression” in major cities all over the country?  If the U.S. economy was actually in good shape, we would expect that the number of people that are homeless would be going down or at least stabilizing.  Instead, we have a growing national crisis on our hands.  In fact, within the past two years “at least 10 cities or municipal regions in California, Oregon and Washington” have declared a state of emergency because the number of homeless is growing so rapidly. Things are particularly bad in southern California, and this year the Midnight Mission will literally be feeding a small army of people that have nowhere to sleep at night… Thanksgiving meals will be served to thousands of homeless and near-homeless individuals today on Skid Row and in Pasadena and Canoga Park amid calls for donations and volunteers for the rest of the year.   The Midnight Mission will serve Thanksgiving brunch to nearly 2,500 homeless and near-homeless men, women and children, according to Georgia Berkovich, its director of public affairs. Overall, the Midnight Mission serves more than a million meals a year, and Berkovich says that homelessness hasn’t been this bad in southern California “since the Great Depression”… Berkovich said the group has been serving nearly 1 million meals a year each year since 2013.   “We haven’t seen numbers like this since the Great Depression,” she said. And of course the official numbers confirm what Berkovich is claiming.  According to an article published earlier this year, the number of homeless people living in Los Angeles County has never been higher… The number of homeless people in Los Angeles has jumped to a new record, as city officials grapple with a humanitarian crisis of proportions remarkable for a modern American metropolis.   Municipal leaders said that a recent count over several nights found 55,188 homeless people living in a survey region comprising most of Los Angeles County, up more than 25% from last year. If the California economy is truly doing well, then why is this happening? We see the same thing happening when we look at the east coast.  Just check out these numbers from New York City… In recent years the number of homeless people has grown. Whereas rents increased by 18% between 2005 and 2015, incomes rose by 5%. When Rudy Giuliani entered City Hall in 1994, 24,000 people lived in shelters. About 31,000 lived in them when Mike Bloomberg became mayor in 2002. When Bill de Blasio entered City Hall in 2014, 51,500 did. The number of homeless people now in shelters is around 63,000. For New York, this is the highest that the homeless population has been since the Great Depression, and city leaders are trying to come up with a solution. Meanwhile, things are so bad in Seattle that “400 unauthorized tent camps” have popped up… Housing prices are soaring here thanks to the tech industry, but the boom comes with a consequence: A surge in homelessness marked by 400 unauthorized tent camps in parks, under bridges, on freeway medians and along busy sidewalks. The liberal city is trying to figure out what to do. Are you noticing a theme? Homelessness is at epidemic levels all over the U.S., and this crisis is getting worse with each passing day.  Some communities are trying to care for their growing homeless populations, but others are simply trying to force them to go somewhere else.  They are doing this by essentially making it illegal to be homeless.  In some cities it is now a crime to engage in “public camping”, to “block a walkway” or to create any sort of “temporary structure for human habitation”.  These laws specifically target the homeless, and they are very cruel. Many of us tend to picture the homeless as mostly lazy older men that don’t want to work and that instead want to drink or do drugs all day. But the truth is that women and children make up a significant percentage of the homeless. In fact, the number of homeless children in our country has increased by about 60 percent since the end of the last recession. And there are thousands upon thousands of military veterans that are homeless.  For example, a 34-year-old man named Johnny that served in the Marine Corps recently used his last 20 dollars to buy fuel for a woman that had run out of gas and was stranded along I-95 in Miami… Pulled over on the side of I-95, McClure, 27, was approached by a homeless man named Johnny. She was apprehensive at first, but Johnny told her to get back into her car and to lock the doors while he walked to get her help. He went to a nearby gas station, used his last $20 fill a can and brought it back to fill up her car.   Grateful, but without a dollar to repay him, McClure promised she would come back with something.   In the weeks since, she’s returned to the spot along I-95 where Johnny stays with cash, snacks and Wawa gift cards. Each time she’s stopped by with her boyfriend, Mark D’Amico, they’ve learned a bit more about Johnny’s story, and become humbled by his gratitude. Deciding that they wanted to do even more for Johnny, they started a GoFundMe page for him and have since raised approximately $250,000. So it looks like there is going to be a happy ending to Johnny’s story, but the truth is that more people are falling into homelessness with each passing day. If things are this bad now, how much worse will they become as the economy really starts slowing down?  Already, we have shattered the all-time yearly record for retail store closings, and we still have more than a month to go.  The following is from a CNN article entitled “Is This The Last Black Friday?”… A record number of store closures - 6,735 - have already been announced this year. That’s more than triple the tally for 2016, according to Fung Global Retail and Technology, a retail think tank.   And there have been 620 bankruptcies in the sector so far this year, according to BankruptcyData.com, up 31% from the same period last year. Prominent names such as Toys R Us, Gymboree, Payless Shoes and RadioShack have all filed this year, and Sears Holdings (SHLD), which owns both the iconic Sears and Kmart chains, has warned there is “substantial doubt” it can remain in business. Sadly, analysts are projecting that the number of store closings could be as high as 9,000 next year. Yes, there are some areas of the country that are doing well right now, but there are many others that are not. Let us always remember to have compassion on those that are struggling, because someday we may be the ones that end up needing some help. *  *  * Michael Snyder is a Republican candidate for Congress in Idaho’s First Congressional District, and you can learn how you can get involved in the campaign on his official website. His new book entitled “Living A Life That Really Matters” is available in paperback and for the Kindle on Amazon.com.

22 ноября 2017, 17:13

Is There a Brick & Mortar Route to Retail Success?

Some brick and mortar chains are resisting the temptation to go online and have found new ways to fight the retail battle.

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12 ноября 2017, 22:50

Sears Holdings Corp.: This Train Wreck Is Going Off of the Rails

After another dreadful quarter, Sears Holdings' odds of long-term survival seem slimmer than ever. But that's not necessarily a problem for Sears real estate spinoff Seritage Growth Properties.