marva66

Credit Markets Overstate Sears Bankruptcy Risk

The Kmart I used to work at is at a loss of over 1.5 million for this year alone. The average store is down near 20% for the year and that is not taking into account the declining years previous losses. From a view from inside, this company needs an intense audit because I think their numbers in many areas are worse than what reported. I also hate to see where this company has taken Sears. It is far from the same store my family used to frequent. Whether they go bankrupt or not they will not remain the size they are because it is unsustainable.

And as for layaway, many are returned to stock for insufficent payment or cancellation when the customer finds something somewhere else cheaper. The numbers were not good for December and stores in my area and even ones based in the companies back yard were slashing hours for employees left and right because of declining sales.

I also would not advise buying into this stock. Their leader , Lampert, is not a retailer. Their executives are short sighted and have been leaving in droves. The inability of middle management or store management to execute and perform is obvious from the numbers. Kmart is a discounter and should be performing better than some of the retailers. Sears used to to be the place to go for things for your home. The declining results say more about what is happening than any stock report. They are failing to do what they should be doing and that is performing as a merchant.