Tuesday, December 27, 2011

Today's Major Market Move: Sears Holding (SHLD) Down Over 10% in Tuesday's Session

Despite Jim Cramer's  exaltations, Eddie Lampert is still struggling with turning around retailer Sears (ticker: SHLD) and its acquired vanishing twin, Kmart. Today the company announced that they were closing at least 120 full-line stores and same store sales were down 5.2% YOY for the 8 weeks that ended Christmas day. The impact to the stock price was a 10.2% decline for the day, making it the worst performer in the S&P 500.

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Longer term the story isn't any better with the stock down 55% for the year.

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From an earnings estimates perspective, the company just had its worst quarter since at least the 1st calendar quarter of 2008, and only 2 out of the upcoming 8 quarters are expected to be in the black.

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If only it were feasible for Sears to shut down the company from January to September and then open up for just the Christmas season.

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