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ABOUT THIS BLOG
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This blog will look at the winners and losers in the retail space. Who has the right strategy to capture consumer dollars? It also will look for trends in consumer spending and how that will impact the economy.
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Wall Street didn’t expect Sears’ [SHLD
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] miss to be this bad though. That game of expectations is what lead to today’s headlines that call Sears’ $56 million dollar quarterly net income loss a “surprise.” But to be frank, it really isn’t too much of a surprise.
Sears Holdings Chairman Eddie Lampert himself said that he didn’t see a near-term turnaround in the consumer economy and admitted that sales were below where the company wanted them to be. The strategy is now about focusing expanding the brands that the company owns and adding more “names” to the product portfolio in order to get people to shop.
Despite telegraphing these signals, the market did get caught with a “surprise” today and shares tumbled. Even word that the board had authorized an additional $500 million worth of share repurchases didn’t bolster the stock. We’ll see what tomorrow brings.
Questions? Comments?
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Data is a real-time snapshot *Data is delayed at least 15 minutes