Sears (SHLD) investors have suffered a continuous series of blows since Eddie Lampert got involved with the company as a hedge fund manager in 2005. Lampert’s first move was the $11 billion merger of Sears and Kmart, a deal that continues to haunt both companies. He took over controlling interest in Sears in 2008, and last year became CEO of the company.
It’s been mostly downhill in the last five years. Losses, layoffs, store closings and a series of asset sales have yet to knock Sears into oblivion…at least for the time being.
However Sears’ most recent quarter might just be the back breaker as the shrinking retailer managed to lose $402 million, or $3.79 per share, in the first quarter. That’s a 31% wider loss than last year’s loss of $279 million or $2.63 per share. SHLD stock has tumbled about 10% since the report.
And buried inside those numbers are some even more disconcerting figures. If these three data points don’t scare the heck out of current shareholders, well don’t say you weren’t warned: get the heck out of SHLD!
Here are three scary developments at Sears today: