Eric Schmidt, executive chairman of Google's parent company Alphabet, is worth an estimated $11 billion. While a significant amount his wealth comes from stock he received as Google's CEO, the billionaire credits a few personal finance strategies with helping build his net worth. This isn't the only piece of advice Schmidt has for professionals.
Whole Foods Market Inc. WFM, -1.38% has experienced a 3% traffic decline over the last year and a half, or about 14 million customers, according to a Barclays note published Monday. Traffic has declined six consecutive quarters, according to their analysis. Barclays estimates that the loss is in the range of 9 million to 14 million transactions annually, with an average basket size in the range of $30 to $50. Kroger Co. KR, -0.58% with $16 billion in natural and organic sales, has the "most meaningful overlap" with Whole Foods and stands to gain the most, the note said. Barclays calls the loss "staggering" because "as most retailers know, once traffic has been lost, those patterns rarely reverse."
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