|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||0.0150 - 0.0300|
|52 Week Range||0.0100 - 0.7900|
|Beta (5Y Monthly)||2.03|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 07, 2019 - Aug 09, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||2.00|
Back in 2015, Seritage Growth Properties (NYSE: SRG) was formed to buy a substantial chunk of Sears Holdings' real estate, giving the struggling retail icon a $2.7 billion cash infusion. At the time of the sale, nearly all of the properties were leased back to Sears and Kmart. Seritage Growth Properties ran into numerous obstacles while trying to execute its redevelopment plan.
Seritage Growth Properties (NYSE: SRG) hasn't given investors a ton to smile about recently: The company has been losing money for years and the COVID-19 pandemic was a major setback for its redevelopment ambitions. Fortunately, Seritage finally seems to be making real progress toward its goals. In this Fool Live video clip, recorded on Oct. 22, Fool.com contributors Matt Frankel and Jason Hall discuss the latest development and what it means.
This bit of retail news might be more symbolic than impactful, but it's certainly worth noting: Sears is closing its last store in its home state of Illinois, specifically in its hometown of Chicago. This isn't just the Sears whose mail-order catalogs were fixtures -- especially around the holidays -- in the lives of many of us of a certain age. It's the remnants of that company known as Sears, Roebuck & Co. that began operating in the Windy City in 1893 and grew to become America's largest retailer, with some 350,000 employees headquartered in what was then the world's tallest building: the Sears Tower.