Sears is slashing more jobs to cut costs

13 Juin, 2017, 16:40 | Author: Marc Bacque
  • People shop at a Sears store

The company has laid out plans to close 150 stores this year.

Sears Holdings Corporation (NASDAQ: SHLD) is a leading integrated retailer focused on seamlessly connecting the digital and physical shopping experiences to serve our members - wherever, whenever and however they want to shop. The Company operates through its subsidiaries, including Sears, Roebuck and Co. and Kmart Corporation, with full-line and specialty retail stores across the United States. Shop Your Way connects all of the ways member's shop-in store, at home, online and by phone. Going forward, we will focus our investments to drive the growth of our valuable assets, such as our Shop Your Way platform; our Kenmore, Craftsman at Sears and DieHard brands; the nation's largest product fix services provider, Sears Home Services; and Sears Auto Centers, a leading provider of automotive maintenance and fix services and parts. It also maintains a range of apparel and home offering, including labels, such as Jaclyn Smith, Joe Boxer, Route 66, Cannon, Ty Pennington Style and Levi's and also offers Lands' End merchandise in some of its Full-line stores.

Sears, controlled by billionaire investor Eddie Lampert, also said it would cut a "small fraction" of jobs related to stores it shuttered last week.

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Company chares are trading at $7.03 a tad under $8.86, the 50 day moving average and which is marginally under the 200 day moving average of $9.42. The 50 day moving average went down by -20.66% and the 200 day average went down $-2.39 or -25.34%. Next quarter's EPS is forecasted at $-4.16 with next year's EPS projected to be $-10.90.

Traders are a little more bearish on shares of the company of late if you take a look at the increase in short interest. The stock recorded a rise in short interest between May 15, 2017 and May 31, 2017 of 5.13%. The days to cover decreased to 7.0 and the percentage of shorted shares is 0.14% as of May 31.

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