Sears is now a penny stock

[mickeyd]

It's been around a long time, but Sears seems to be on it's last legs.

Quote:

<H2 class=speakable>Sears stock has fallen into the bargain bin.

Quote:

In the latest indignity for a once-grand retailer, the share price fell below $1 on Friday for the first time in the company's history, dropping as much as 15% to 85 cents in midday trading.

</H2>
https://money.cnn.com/2018/09/28/new...ock/index.html

[Walt34]

Sad. When I was growing up the Sears Christmas catalog was one all three of us kids drooled over. Later on the tool catalog was the one I wanted to order "one of everything" from.

I suppose I can throw out my Craftsman Club card...

[mamadogmamacat]

have never owned the stock and it has been ten yrs since I bought anything there (a washing machine which still works but the delivery story was a nightmare), so if it does go away, will only be a sad memory for me.

However, would not necessarily throw away that card, as the co must still have some "book" value and may well be bought up and they keep the name but with fewer brick and mortar stores. Isn't that essentially what happened with Macy's? There is still a Macy's at the mall near me.

[Lakewood90712]

IIRC Sears got out of the catalog order business about the same time Amazon was a tiny start up.

New offer this fall , with every purchase over $ 10, you get a free share of Sears Holdings. That should shore up the business.

[Helena]

.

How the mighty have fallen.

Btw... in my early 20s, I worked for awhile at the Craftsman hand tool factory in Springdale, Arkansas [now they are made in China.] Springdale is the same town where my "richest person I have personally known" lived [my cousin, Harvey Jones - JTL Truck Lines.] My parent's farm was nearby.

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[Cessna152]

Quote:

Originally Posted by Walt34 Sad. When I was growing up the Sears Christmas catalog was one all three of us kids drooled over. Later on the tool catalog was the one I wanted to order "one of everything" from. I suppose I can throw out my Craftsman Club card...

Don’t know anything about the Craftsman Club card, but Stanley Black and Decker bought the Craftsman brand last year, so it will continue on.

[Walt34]

Quote:

Originally Posted by Cessna152 Don’t know anything about the Craftsman Club card, but Stanley Black and Decker bought the Craftsman brand last year, so it will continue on.

Ah, okay. At the age of 68 I'm not buying new tools, and in fact should be looking at selling/giving away some. All are between 20 - 40 years old, back when Sears sold good quality tools.

[Fedup]

I just bought a new fridge from Sears. The last one last 15 years.

[Red Badger]

Quote:

Originally Posted by Cessna152 Don’t know anything about the Craftsman Club card, but Stanley Black and Decker bought the Craftsman brand last year, so it will continue on.

Yep. Lowe's store here has lots of Craftsman products. Showed up a few months ago.

Don't buy a lot of tools these days, but occasionally, the Spirit moves me.

[bobandsherry]

When the Chairman of Sears has a vested interest in buying the Sears properties at a bargain price, there's more incentive for him to drive the company into the hole and to work to salvage it.

Quote:

In 2015, Sears sold 235 stores, along with its stake in joint ventures involving 31 more properties, to real estate investment trust spinoff Seritage Growth Properties. Lampert is both a stakeholder in Seritage and its chairman.

To avoid bankruptcy, Sears CEO proposes selling off real estate. The retailer has tried that move before. - Chicago Tribune

And

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Through a series of transactions over the last several years, Lampert has extracted significant value from Sears and may secure additional assets if the company goes belly up, according to public filings and interviews.

https://www.usatoday.com/story/money...pert/99487518/

[bobandsherry]

And then there is this...

CEO’s Plan to Save Sears Would Hand His Hedge Fund $1 Billion

[brucethebroker]

Quote:

Originally Posted by Helena . How the mighty have fallen. Btw... in my early 20s, I worked for awhile at the Craftsman hand tool factory in Springdale, Arkansas [now they are made in China.] .

Used Craftsman tools are a big seller on ebay. But only the "made in USA" older stuff. Word is that the American steel/alloys are much better/stronger than the newer tools made in China.

[pjigar]

Quote:

Originally Posted by brucethebroker Used Craftsman tools are a big seller on ebay. But only the "made in USA" older stuff. Word is that the American steel/alloys are much better/stronger than the newer tools made in China.

I still have my old craftsman tool set and it is holding up after 20 years.

[Jerry1]

So, is there any thought that the stock could return any benefit? Nowhere to go but up? Or, sure to die and leave nothing for stockholders.

[brett]

Not surprising if you have been in one of their stores lately. Or looked at their on line presence.

[aja8888]

Quote:

Originally Posted by pjigar I still have my old craftsman tool set and it is holding up after 20 years.

Mine is still going after 40 years. I did break an 18" breaker bar one year standing on a 4' "helper" pipe trying to remove a frozen flywheel bolt. Sears gave me a new one and said they never saw a broken 18" bar before!


I got a "new"1/2 drive Craftsman Ratchet wrench for Xmas a couple of years back. It didn't work out if the box. I brought it back to Sears and the associate said to just drop it in the broken tool barrel next to the counter and go get another. Junk

[pb4uski]

When I got out of college in 1977 I lived in a small city of about 30,000 people.... for shopping, Sears was the best thing going in terms of variety and price... I had a Sears card from then until a couple years ago. Too bad.

[sheehs1]

Very sad. As a child, I loved the Christmas Sears Catalog. Bought many things from them thru the years. Not so much the last 10 or so.

[Willers]

Quote:

Originally Posted by Walt34 Sad. When I was growing up the Sears Christmas catalog was one all three of us kids drooled over. Later on the tool catalog was the one I wanted to order "one of everything" from. I suppose I can throw out my Craftsman Club card...

My exact experience. Change is inevitable, but still sad.

Used to own FAIRX and Berkowitz was so bullish on Sears because of the real estate holdings. I guess he miscalculated and should have invested in Seritage instead. I think Lampert is the only winner here...

[braumeister]

Quote:

Originally Posted by Willers I think Lampert is the only winner here...

Not necessarily.

Quote:

Lampert’s turnaround plan for Sears has so far not only failed to bring the struggling retailer back to health, but it has also been a personal disaster for the investor’s net worth. Lampert’s fund held $3.8 billion when he became CEO at the beginning of 2013, but those assets have dropped 84% since then, a Fortune analysis found—even greater than Sears’ 74% drop in the same period.

Sears Cost Eddie Lampert's Hedge Fund and Net Worth Billions | Fortune