The real estate angle is a big hoax. SHLD owns very few of its locations and headquarters. Many of the Kmart locations are in very undesirable locations. Many of the Sears stores are located at traditional enclosed malls. If you think the commercial real estate glut is bad now, just wait until Sears, Kmart, JC Penney and Best Buy close up shop in upcoming years. Internet sellers like Amazon are on fire now. America has discovered the benefits of shopping on line.
Traditional brick and mortar retailers like Best Buy can't compete with the low, low costs enjoyed by Amazon and others. Internet sellers don't require large parking lots for customers, heating and air conditioning for huge sales floors, liability insurance for slip and falls, or staffingcosts day and night to serve shoppers. Internet sellers don't have to deal with shoplifters. All this spells doom, I believe, for brick and mortar consumer retailers and consequently for SHLD.
Eddie Lampert will never be ablej to monetize the stores leases. Sears and Kmart have seen year after year declines in same store sales. Sears brands have already been monetized with no further benefit to SHLD shareholders. Can anyone give me a real reason to hold shares in this has-been retailer??? I just don't see the rationale.