- The precipitous drop in holiday sales at Sears Holdings (SHLD -13.8%) during the holiday period wasn't wholly unanticipated, but a small erosion in the bull theory on the value of the company's real estate holdings might be a different matter.
- Some analysts think that if more department stores follow the Macy's recipe to shed under-performing stores, then at some point asset valuations for Sears will feel a shiver.
- Though the number of malls in the U.S. isn't completely out of whack, the abysmal reads on mall traffic across the U.S. point to a systemic issue.
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The other big problem at Sears Holdings
Jan 10 2014, 13:09 ET