We’ve had a longtime joke here at Consumerist that Sears Holdings isn’t actually a retail company, but an advanced anti-capitalist prank pretending to run a retail company. We expected the company to either turn things around or go out of business. What’s happening instead is something that some retail observers had predicted: the company is profitable for the first time in years, but only because it sold a few hundred million dollars’ worth of stores. [More]
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Sears Holdings Ponders Forming A Real Estate Trust, Selling Stores To It
By 11.7.14
Two things are true about Sears Holdings: the company owns a lot of stores, and those stores are not selling enough merchandise. In order to raise some cash, in the last year the company has spun off its best quality clothing brand, sold shares in its Canadian subsidiary, borrowed money from its CEO, and taken on some roommates. What’s next? Selling some of its stores and leasing them back. [More]
