I am from Canada and i have seen sears in good and bad days they are spending to much money on flyers lol the best of ads now days and they are way in the bottom of the barrel in terms of their old fashionded. products. AND YES YOU RIGHT BURNABY , B.C IS VERY CLOSE TO THE CANDIAN POTASH GROWERS AND NO DISREPECT TO FARMERS BUT THEY ARE THE ONLY CUSTOMERS OF SEARS. Lululemon is pushing to replace sears stores as target did with zellers. There is reports here in the media that Sears is heading towards the same path. Guys look up Zellers and company and wake up. You guys sound like blackberry echo system participants, they thought the tech was the best in existence and now they are waking up to reality of a dynamic marketplace that demands reinvention and adaptabilty to the trends.
Nice to have a ceo whose target is to sell real estate and not concentrate on the real bizz of selling more fridges and apparel. Then when real estate is exhausted then what. You as a value investor should be happy tomorrow to see the stock even cheaper. 1 minimum bid is better deal than 55 if u ask me can buy way more shares at 1 dollar
At the end of the day value of any business is the real estate. Always has been always will be. You know the block where the Eaton Centre in Toronto was built in 1977 was owned by great great grandad Eaton who bought the land for $500 in 1850 when Toronto had a population of 3000. Sears bought Eatons in 2001 out of bankruptcy and now have the seetheart lease deal. This real estate play will play out. I see it accelerating this year. Sears Canada in particular is deep deep value as it trades at book value and have over $3 a share in cash with no debt.