Clown-Free Zone... sorry, no clowns allowed Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Clown-Free Zone... sorry, no clowns allowed

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: reaper who wrote (204083)	11/12/2002 8:02:00 PM
From: orkrious	of 436258

From RMpro Jeff Matthews Softer Side of Sears II 11/12/02 06:54 PM EST Sears (S) was weak all day despite the strong tape. Bear Stearns came out with a lukewarm and cautious "neutral" report this morning, but that doesn't explain the stock being under pressure all day. Importantly, the 10Q hit the wires towards late afternoon, and it is not good reading, in my opinion. Cash flow was very negative--including a higher-than-normal inventory build--and there are a great many moving parts on the credit side. (A friend in the credit markets is looking it over and I will report more in the morning.) In checking with a friend who supplies Sears and other retailers, he tells me they are really screwed up operationally, and the headquarters in the Chicago suburbs resembles the Pentagon ("They hand you a piece of paper with coordinates and a map: you walk a half a mile to find the guy. It's incredible.") Another retailing executive who cut her teeth on rescue efforts at similarly failing, high-cost operators, told me "they know they've got problems--they just don't realize how bad they are." More tomorrow.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next