Sears struggles with losses, executive departures
Sears Holdings is expected to report its latest quarterly earnings before the markets open on Thursday. And expectations are low. The owner of Sears and Kmart stores has lost more than $8 billion in the last five years, as it has struggled to compete with the likes of Amazon and Wal-Mart. Sears has lost two of its top executives in the past few weeks, along with board member Steven Mnuchin, the incoming Trump Administration’s nominee for Treasury Secretary.
Retail strategist Robin Lewis, with The Robin Report, said the company’s future is very much in doubt.
“Their cash flow situation is terrible,” he said. “It’s difficult to see a path forward for them.”
To stay afloat Sears has been exploring alternatives for its iconic Kenmore, Craftsman and Diehard tool and appliance brands, including their possible sale.
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