You realize that that is just a simple asset minus liabilities/shares? This thing has $7.5 billion of it's $9 billion "assets" as inventory and property and equipment - which in the case of a liquidation would be considered 50% of that at most.
With $6.5 billion in debt - the company has a "true" book value - or sale value of NEGATIVE!! Meaning that a liquidation would not even pay off most of the debt. Perhaps the debt holders would get 50 cents on the dollar at best and the common shareholders(last in line in any sale) - get ZERO!!
debt is of concern.....unless the mgmt. takes some serious steps in getting this ship back in order.
why is there so much pessimism on this iconic brand....I think the brand itself is worth a couple of billions....