This is in reply to longtimefollower since yahoo won't let me directly reply to that message.
Of course shareholder's equity is down big. They've been depreciating assets and closing under performing stores. That's not new or unexpected news. And has nothing to do with what will ultimately determine share price: if their efforts lead to improved same store sales (already historically happening), margins (k&k selling at full price), and earnings. So we shall see. And we'll also see who stays short this into Good Friday when the new k&k line is released.