Ergen wants out of subscription television, because he understands TV is dead. I think Charlie believes traditional television will soon no longer attract enough subscribers to be a profitable business.Read more
Disturbingly, pessimism about America’s future is growing dramatically among some groups. For instance, 42% of women between 18 and 49 believe the American dream is unobtainable.Read more
Moreover, JC Penney’s debt was over 10 times the size of its July 2, 2019; market capitalization of $345.33 million. Given these figures, I cannot see how JC Penney can pay off those debts.Read more
We can sum Bed Bath & Beyond’s woes up in three words; Amazon (NASDAQ: AMZN), Wayfair (NYSEL W), and Walmart (NYSE: WMT).Read more
25% of US adults live in households with a family income of less than $25,000 a year.Read more
Sales figures show that US car sales are collapsing. In fact, CleanTechnica estimates American car sales for every non-US automaker fell between May 2018 and May 2019.Read more
Thus, circumstances support the lawsuits allegations that Lampert and other insiders were conspiring to strip Sears of assets. The stripping allegedly includes hundreds of millions of dollars in rent and leases Seritage charges Sears.Read more
The situation is not that bleak for Abercrombie & Fitch because of the clothing market’s decentralized nature. To clarify, there is more than enough market share for Abercrombie & Fitch (ANF) to survive.
Notably, Amazon Prime had 95 million subscribers in June 2018 up from 85 million in June 2017, Statista calculates. Thus, Amazon Prime is the fastest growing and most important retail outlet in America.Read more
Debt is not the only thing, Sears Holdings is trying to unload. The Chicago Tribune reports Sears is seeking buyers for 505 stores.
If a buyer cannot be found for the stores by December 5, 2018, (next Wednesday) Sears could liquidate the locations. Notably, Sears Holdings is seeking bids on the liquidation of the stores as well.
Sears is planning to sell or liquidate most of its locations if The Tribune is correct. Sears operated 866 stores in August 2018, USA Today estimates. In detail there were 506 Sears’ stores and 360 Kmart outlets in operation over the summer.
However, that number has probably shrunk because of recent closings. Notably, Sears planned to close 13 Kmarts and 33 Sears stores in November. Hence Sears is probably operating around 820 stores.
Thus Sears is planning to shrink its footprint to 315 stores if The Tribune and USA Today are correct. Under those circumstances, most of the company’s stores will close.Read more
The 2018-2019 Holiday Season could kill two of the most historic names in American retail, Sears (OTMKT: SHLDQ) and JCRead more