No, more like chasing yield to Sports Authority!
May 18, 2016
Sports Authority to close all remaining stores
When Sports Authority was bought by a hedge fund 10 years ago, it was the largest sporting goods retailer. But it has struggled with the debt load associated with that leveraged buyout a decade ago.
It's not all bad news though.
But even retailers who are not in financial distress are closing their weaker performing stores. Among chains trimming locations are Walmart (WMT), Macy' (M)s, Kohl's (KSS), Target (TGT), Sears (SHLD) and Kmart.
Although Sears Holdings Corporation is trading at a record low, is down well over 90% from its peak, now trades at just $10.70, and earned negative $10.58 per share over the last year, at least it is not experiencing financial distress.
Would you like to know how it has avoided financial distress?
May 15, 2016
Innovation: Why Bezos Succeeded, While Lampert Failed At Sears
In March, 2005 Sears shareholders approve the deal. The stock trades for $126. Analysts praise the deal, saying Lampert has “the Midas touch” for cutting costs. Pumped by most analysts, and none moreso than Jim Cramer of “Mad Money” fame (Lampert’s former roommate,) in 2 years the stock soars to $178 by April, 2007. So far Lampert has done nothing to create value but relentlessly cut costs via massive layoffs, big inventory reductions, delayed payments to suppliers and store closures.
Jim Cramer's former roommate has the Midas Touch! He touched Cramer! He touched Sears! He creates mad money out of nothing!
Thank you. Thank you very much. I'll be performing here all week, lol. Sigh.
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