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Investing

Sears (SHLD) Shows What A Poor Retailer It Is

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By Douglas A. McIntyre Published
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The head of Sears (SHLD), Ed Lampert, may be a good hedge fund manager, but he is an awful retailer. (He has appointed another poor soul, Aylwin Lewis to be CEO and market whipping boy).

Sears announed today that its sames store sales had dropped 4.3% over the last quarter and it K-Mart division was down 3.8%. The company also reduced its profit projection for the quarter from a range of $170 million and $185 million to $160 million to $200 million.

The whole Sears/K-Mart thing looked so promising at one point.

Rumors that Lampert was both a hedge fund and retail genius took Sears shares from $118 in early 2006 to $195 last April. But, as retail results started to weaken, the idea that Sear Holdings would be the next Berkshire Hathaway started to fade.

The shares now hit $135 on a good day, and the notion that the two old retail chains can be turned around is a thing of the past.

Douglas A. McIntyre

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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24/7 Wall St. 2007 Break-Up Values: Sears $205 or $325? (Current Price $187.65)

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