Ravi Nagarajan

The Top 12 Brands Likely to Survive

"While Sears and K-Mart are seriously challenged as brands, the company itself has everything in place to maximize shareholder value, most of all a master capital allocator at the helm."

Sears itself may not have the greatest brand equity, but Kenmore, Craftsman, and Lands End certainly have value. Add this to the property values of company owned store locations and the Hoffman Estates HQ and essentially what you have is a longer term play on commercial real estate with a free option on the retail operations provided that the retail operations do not consume cash. Lampert is unlikely to permit the stores to consume cash in my opinion.