BBY has space to burn in their Stores - might as well do something. While margins on Appliances may be a little short, the sales per square foot is good.
volume looks good - and as always, the number of sellers and buyers is the same. But clearly with the increase in price, there are lots of people still wanting in. Feels like $140 to me.
Think they are in between a rock and a hard place. Cleary they have to cut expenses drastically. The two big areas of expense are payroll and advertising. Start cutting either of those and you risk the 'downward spiral'. Either you get less customers into the store or customers in the store get poorer experiences. Probably a reason they call it the 'death spiral'.
terrible sales raises the chance of more Store closings, which tends to push up the Stock price. Moving 'Friends and Family' right into the teeth of Black Friday was a huge mistake. Sears 'owned' the Sunday/Tuesday after Halloween. Not a good plan.
Last year for Q4 they did $666M (not a good omen) and lost $87M. They would have to try very hard not to improve those numbers this year.
yep - my K-Mart had two customers. One checkout open, which seemed plenty.
Jun 3, 2015 LUXOR CAPITAL GROUP, LPBeneficial Owner (10% or more) 146,667 Indirect Sale at $38.84 per share. 5,696,546
Jun 3, 2015 POPPE MICHAEL JOfficer 400 Direct Disposition (Non Open Market) at $38.54 per share. 15,416
Jun 3, 2015 WRIGHT THEODORE MOfficer 482 Direct Disposition (Non Open Market) at $38.54 per share. 18,576
Jun 2, 2015 LUXOR CAPITAL GROUP, LPBeneficial Owner (10% or more) 750,000 Indirect Sale at $38.42 - $38.43 per share. 28,819,0002
Jun 1, 2015 LUXOR CAPITAL GROUP, LPBeneficial Owner (10% or more) 58,729 Indirect Sale at $36.39 per share. 2,137,148
I think their big challenge is how to make money in the Xmas quarter when most of your revenues come from Electronics and Appliances. Black November sure ain't a high margin event. They just do not sell enough other stuff to offset the margin implications from Black November.