You missed it. It happened in April/May...when there was still hope the old customer would come back once they returned to coupons and markdowns...launched the new home store.
Guess what? They lost more money last quarter than ever. Customers didn't come back and now they're going to market with the same failed strategy, rather than take the pain now and kill off unprofitable stores. That will come after they run out of money. Sinking ship, no hope.
I was long for the last bounce but now, it's clear, the writing is on the wall. Cash burn, every second of every minute of every hour of every day.
Remember the good ole days Chase - - - - the ones where you trashed me so bad for that EXACT same post, after wandering around a few dozen stores and claiming "Debt don't matter" and "Fundamentals don't matter" - - - - - - what's that my father used to say - - - - - - - - Oh yeah - - - - - “Chickens always come home to roost.”
I truly sympathize with stockmoron936's family. It's very clear that he bet his family's house and the kid's college education funds on this soon-to-be-extinct retailer. It's not their fault that the patriarch of their family is an idiot. Pray for them.
Reminds me of a couple of posters from yesteryear - - - one was PenneyProud(proud as he could be) - - - - he claimed(and I believe him) to have tied his entire retirement up in JCPenney stock - - - it was worth about a million bucks at the time and he was so obnoxiously sure it was going to split three for one and they were going to double the number of their stores - - - - - - - - - - - long story short - - - that holding was worth about 200K when he stopped his rant posts and would be 125K today if he still held them - - - - - - - - funny how our stockgenius is just as sure - - - - of course it always happens to the other guy - - right?