Sears Canada Inc SRSCQ

loss of 53 million for quarter 3

[freckled]

They lost 53 million for quarter 3, not as much as 2014 in quarter 3. But you have to remember they had an overall operating loss in 2014. The company will still have about 300 million in cash...but unless they stem the losses that will burn up really quick. I doubt they will post a profit this year, regardless of how much real estate they sell. 1 more year and the name Sears should be gone from the retail landscape.

[extremerisk]

I think an error to short Sears Canada. No evidence that they have one more year. Check out Fairholme funds Berkowitz who added 3 million sears canada shares in august and now holds 17 million. Lampert has 50 million. Sears holdings has 10 million. So that leaves 23 million and based on volumes traded these are owned by smaller hedge funds. Don't see any retail holders. So you are going on the

[extremerisk]

This has come down to quick too fast. Take away $4 a share from confirmed sales leaves you $3 a share. Sales are $3 billion so trading 10 percent of sales which is a bankruptcy price. Even with a poor' Christmas season stock price too low. Berkowitz geting little upset based on recent filing for sears holdings. He is going to want sales faster and generate cash quicker. I was adding Thursday

[extremerisk]

sold out earlier this week. Have rule that 7 percent below price I bail out. Sears canada been going down every signal day. There is a large seller that wants out. Will wait for re entry as nothing worse than an anxious seller to drive price down.

[extremerisk]

Back in today. Nice carnage in markets. Sears has no volumes but can buy a little slowly. Cash is close to $4 a share trading close to $5.5 and no debt so market cap now $150 million. $3 billion sales. Trading 5 percent of sales now I have to go in!!! Will keep going for rest of day.

[Kuyawayne]

Well, sir, hindsight is 20/20. Stock plunged heavily early January. Truth of the matter is that they did try selling the company about 2 years ago. There were no offers to take over this sinking giant. Two years later and much of their most valuable real estate has been sold off to maintain cash flow. Cash is drying up quickly. Eddie Lambert has used the Canada portion of Sears as a ATM machine

[extremerisk]

As of last qtr they reported cash of 386 million (including Vaughan logistics centre sale) plus $300 million credit facility which is undrawn. Stranzl will have to go crazy to blow through $700 million in a year to make this a penny stock as you say. I don't see that happening this year.