Friday, March 24, 2017

Real estate experts: Still business as usual at Sears

Despite dire statements made on a recent SEC filing, Sears and Kmart stores will remain as fixtures on the retail landscape for some time to come, according to retail real estate experts contacted by Chain Store Age.
 
“The news was not news,” said REIT analyst Alexander Goldfarb of Sandler O’Neill + Partners about a Sears filing that questioned its own future as a “going concern.”
 
“Looking at Sears’s performance over many, many years, it’s clear that they’ve been a retailer having troubles,” Goldfarb said. “Sears will continue doing what it’s doing with Seritage, closing 10 boxes at a time. If they were to dump all of their real estate at the same time, they’d get a much lower price.”. . . more

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