The ingenious strategy of cost-cutting and store-closing your way out of trouble: Pretty soon, it leads to zero.
Sears reported first quarter earnings today. “Earnings” has been a bad joke with Sears, which has lost money every one of the past six years, $10 billion in total.
H/t reader squodgy:
“This article, whilst highlighting the struggle affecting all high street retailers, takes the mickey out of what is really the only route available for Sears….cost cutting and store closing.
Unfortunately only a few of us foresaw economic unsustainability on the horizon. The logic was laughed at, now the tsunami is here.”
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