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brooklynite

(96,882 posts) Wed Mar 22, 2017, 09:13 AM Mar 2017

Sears has 'substantial doubt' that it can survive [View all]

Source: CNN

After years of huge losses and store closings, the future is officially in doubt for Sears and Kmart.

Sears Holdings (SHLD), the holding company for the two iconic retail brands, warned investors late Tuesday that it can't promise it will stay in business.

It included the language in its annual report while insisting it might still turn things around.

"Our historical operating results indicate substantial doubt exists related to the company's ability to continue as a going concern," said the statement.

Read more: http://money.cnn.com/2017/03/22/news/companies/sears-kmart-future/index.html

40 replies

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Highlight:

Sears has 'substantial doubt' that it can survive [View all] brooklynite Mar 2017 OP

Randian philosophy at work bigworld Mar 2017 #1

Good link. Thanks. nt fleabiscuit Mar 2017 #5

Randian philosophy at work : anti-christian nut job Dorn Mar 2017 #9

wow--great link. I had been watching the decline of sears through our two local stores for over niyad Mar 2017 #21

Re: Paul Ryan TexasBushwhacker Mar 2017 #22

I have no idea how either Sears or Kmart reasonably expects to turn things around. PoliticAverse Mar 2017 #2

So true. It's sad but once they got rid of kenmore, I had little use for them. yeoman6987 Mar 2017 #4

I blame Trump eom Friend or Foe Mar 2017 #3

Sears / KMart have been in decline a LONG time bigworld Mar 2017 #8

Nope, just like the repukes did: anything bad that happens while he is in office gopiscrap Mar 2017 #12

I saw it coming in the late 70's..... Bengus81 Mar 2017 #15

Oh, man Cosmocat Mar 2017 #17

Ironically, the Sears card was the first piece of credit a lot of people could get. brooklynite Mar 2017 #24

I was able to get one when I was in graduate school, and it was Tanuki Mar 2017 #38

My first job (besides babysitting) was in 1967 in Sears catalog department duhneece Mar 2017 #6

Very sad, another American institution may be folding. iluvtennis Mar 2017 #7

Not terribly sad; they're an awful store Recursion Mar 2017 #11

They used to be a great store HelenWheels Mar 2017 #19

Loved their catalog in the 50's. As a kid, I used to moonscape Mar 2017 #34

We used to make DIY paper dolls by cutting out the ads! Tanuki Mar 2017 #39

I think a lot of people have very fond memories of sears Mosby Mar 2017 #20

I.do too SouthernIrish Mar 2017 #28

Writing was on the wall when they sold Craftsman in January Recursion Mar 2017 #10

Downtown Minneapolis Macys closed Sunday...the flagship location, at that. Kimchijeon Mar 2017 #13

That was Dayton's Randomthought Mar 2017 #14

Yeah it used to be Dayton's Kimchijeon Mar 2017 #16

The circle of life Cosmocat Mar 2017 #18

Don't care. I have bad recent memories of shopping there. Boomerproud Mar 2017 #23

Delay delay delay... durablend Mar 2017 #25

"Seagull management" to blame? Worktodo Mar 2017 #37

Sears and kmart MFM008 Mar 2017 #26

A new book for sale soon flyingfysh Mar 2017 #27

Thanks Trump... clementine613 Mar 2017 #29

And the wheel turns... WheelWalker Mar 2017 #30

Craftsman Tools bpj62 Mar 2017 #31

Sears used to be the go to place to find quality tools and fixtures and appliances. They were great nikibatts Mar 2017 #32

Sears and Kmart need to set up online operations quickly. democratisphere Mar 2017 #33

It is very sad Danmel Mar 2017 #35

Yes, kids clothes Freddie Mar 2017 #36

They have a generous rewards program-practically giving things away wishstar Mar 2017 #40