Losses mount at Sears Holdings


Sears Holdings (SHLD) reports a 7.6% drop in comparable store sales in Canada during Q1.

In the U.S., comp sales at Sears were up 0.2% while Kmart saw a 2.2% fall.

Gross margin rates crumbled across brands as the company leaned on promotions heavily and a shift in mix hurt. Free delivery on home appliances also cut in.

Strategic alternatives continue to be looked at by the company for Sears Canada and the Sears Auto Center business.

CEO Eddie Lampert waxes on about the transition of Sears to a member-centric business model even as the losses mount.

SHLD -2.8%

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Comments (9)
  • John/Jack
    , contributor
    Comments (157) | Send Message
     
    I believe the comp sales increase at Sears, though tiny, is a significant milestone. Haven't seen that in any quarter since I've followed the stock.
    22 May 2014, 07:25 AM Reply Like
  • Micah
    , contributor
    Comments (498) | Send Message
     
    This is a crap quarter for earnings, again, but Eddie did mention that comps would have been higher had consumer electronics not been such a drag.
    22 May 2014, 07:32 AM Reply Like
  • Interesting Times
    , contributor
    Comments (15142) | Send Message
     
    And the Queen would be King if she had...never mind !
    22 May 2014, 07:36 AM Reply Like
  • idkmybffjill
    , contributor
    Comments (1911) | Send Message
     
    Micah, earnings would have been better too if they didn't have interest payments, pension liabilities, a crappy gross margin, etc, etc, etc.
    22 May 2014, 09:44 AM Reply Like
  • Rwong8200
    , contributor
    Comments (161) | Send Message
     
    Member-centric? sorry Eddie, Sears is not Costco. Sorry to see a great franchise die of old age.
    22 May 2014, 08:38 AM Reply Like
  • chummybeagle
    , contributor
    Comments (120) | Send Message
     
    Reminds me of an oldie but goodie:

     

    Build a man a fire and he will be warm for a night. Set a man on fire and he will be warm for the rest of his life.
    22 May 2014, 09:24 AM Reply Like
  • idkmybffjill
    , contributor
    Comments (1911) | Send Message
     
    Or give a man a balance sheet full of assets, and he'll find endless ways to burn it.
    22 May 2014, 09:34 AM Reply Like
  • MrVincent
    , contributor
    Comments (257) | Send Message
     
    Sears, Circuit City is waiting for you to join them.
    22 May 2014, 10:22 AM Reply Like
  • life_student
    , contributor
    Comments (13) | Send Message
     
    He will do it
    22 May 2014, 04:24 PM Reply Like
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