Post by
extremerisk on Mar 20, 2017 12:46pm
sears canada can do reit like seritage in US
Wonder why they haven't done so. On average seritage been able to release the old sears space at 5 times previous rent. Makes sense as department store rents are heavily discounted. Sears2 concept is doing same thing. Up to 4 leases now but this can be accelerated. Am expecting a better q4 report. For the critics who discuss cash burn they could burn no cash if they cut deeper on staff but they are appear to be keeping staff at 17000. Biggest win will come from Re leasing space that is deeply discounted like seritage is doing in US. One can see the path here back to the 10.50 spin off price rather than sub dollar by year end. Sharp operators lampert berkowitz behind this one.