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  • Morning Jolt: Sears Has Finally Admitted That It's Dead
    Business
    The Street2 hours ago

    Morning Jolt: Sears Has Finally Admitted That It's Dead

    Kudos to Sears Holdings Corp. (SHLD) for finally admitting what everyone already knew: it's almost dead.  As TheStreet broke the news on Twitter Tuesday evening, Sears indicated in its newly filed annual report that "substantial doubt exists related to the company's ability to continue as a going concern." For those clickbait-loving headline writers out there with no financial services training: what Sears essentially said is that yes, it's unsure if it could stay in business. Well, duh. Sears' cash position has melted from a high point of $1.7 billion for the 2009 calendar year to a mere $286 million to close out 2016. Revenue hasn't grown since the credit boom lifted all ships in retail in

  • Shoppers get mad as hell when their favorite brand is bought by the big guys
    Business
    MarketWatchyesterday

    Shoppers get mad as hell when their favorite brand is bought by the big guys

    Change is hard, but when it comes in the form of a new parent company taking control of a beloved brand, it can be downright ugly — especially where devout customers are involved. Case in point: online discount site Jet.com, through its parent company Wal-Mart WMT, -0.36% recently bought ModCloth, the online women’s clothing and accessories retailer with a vintage flair. ModCloth’s customers are not happy, and took to Twitter to share their dismay after the acquisition, saying they’ll no longer shop there and going so far as to share retail alternatives. For some customers, it might seem an odd match. Wal-Mart ranks among the lowest of department and discount stores in terms of customer satisfaction,

  • 15 Big Losers From When Sears Eventually Dies
    Business
    The Street6 hours ago

    15 Big Losers From When Sears Eventually Dies

    Kudos to Sears Holdings Corp. (SHLD) for finally admitting what everyone already knew: it's almost dead. As TheStreet broke the news on Twitter Tuesday evening, Sears indicated in its newly filed annual report that "substantial doubt exists related to the company's ability to continue as a going concern."  Sears' cash position has melted from a high point of $1.7 billion for the 2009 calendar year to a mere $286 million to close out 2016. Revenue hasn't grown since the credit boom lifted all ships in retail in 2006. The company hasn't generated cash flow from its operations since 2006. "With negative news like this, it's never good for confidence on the company," Moody's VP Christina Boni told