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While Sears Holdings (NASDAQ: SHLD) announced a new quarterly loss and promised a new round of unprofitable store closures a few days ago, it was an article by CEO Eddie Lampert who stole the show during the week of earnings.
Lampert argues that the dismantling of Sears was not solely due to Amazon's e-commerce and explosion, but to the heavy pension obligations the company had to face due to historically high interest rates. low.
"If the company had been able to use these billions of dollars in its operations, we would be better positioned to compete with other large retail companies, many of which do not have large pension plans and therefore do not have to allocate billions of dollars to these liabilities, "Lampert writes.
Some retail analysts have noted that the retirement joker is a known variable for some time.
Sears ended the week at $ 1.25 against a 52-week trading range of $ 1.07 to $ 7.87.
In the department store sector, Sears' underperformance is even more distinct. Over the past 52 weeks, Kohl's (NYSE: KSS) + 52%, Macy's (NYSE: M) + 44%, TJX Companies (NYSE: TJX) + 42%, Nordstrom (NYSE: JWN) + 40% and Dillard & # 39; s (NYSE): DDS) + 29% all had impressive price gains, as refined investments in livestock and e-commerce led to sales gains.
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