GREY:SRSCQ - Post by User
Comment by
freckledon Jun 06, 2017 3:32am
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Post# 26328119
RE:Can someone in the know please answer
RE:Can someone in the know please answer
Sears Canada is a separate company with a separate corporate structure. Sears Holdings only own about 10% of the shares, or whatever their stake is now. Therefore, Sears Holdings financial state has no bearing on Sears Canada's financial state.
However, unless Sears Canada starts generating an operating profit they will be in the same situation as Sears Holdings - I give it a year. SCC cannot demonstrate it can generate an operating profit. They have sold off all of the buildings they can, and gotten as much money as they can from exiting high priced leases.
Get into Groceries? Yeah, right. Can't genereate a profit from their core business, so try something else they have no experience with.
$1.20 a share. Give the market one or two bad financial reports and you will be looking at a penny stock. No long term value in the company. No vision. But with the remaining assets in the business, and with how low the stock price is, this is a day traders stock.