I think we'll get a surprise late FEB when EDDIE announces there's no more shares left. 2012 they did 600MM EBITDA, have cash of $1B+ and authorization to repurchase $500MM+ shares. Outside of ed&berko, there exists 20MM shares outstanding. 10MMM already sold short which the company is buying and extinguising - there's none left period. on our way back to 100
I think the better question is "why not?" It is his mo to continue the buybacks with excess cash. After the Sears Canada dividend, the Sears Hometown rights offer and a better retail experience, one would think the company's cash position would be good. We will see but along with you I am hoping to see that they have begun the buyback again when they report in late February.