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The biggest news is that Trump put tariffs on washing machines and the Koreans responded by raising prices. https://www.nytimes.com/2018/01/22/business/trump-tariffs-washing-machines-solar-panels.html If that spreads to more areas of appliances it could be a meaningful tailwind for the Outlet side... login to read the rest

SHOS reported a horrible Q1 with Hometown comparable sales down 6.8% and Outlet down 8.3%.  They reported that adjusted EBITDA fell 10 mm year over year to -8.7 mm. After speaking with EJ (the new CFO),... login to read the rest

Handley, Roark, MSLM28 - great thoughts guys. Quick question - assuming a SHLD to SHOS brand transaction, anyone know whether said deal would that allow SRG to continue recieving rent in the event of a SHLD... login to read the rest

Socrates, thanks for pasting the actual language/chiming in. Not sure that's the way to think about it. At first I thought maybe SHLD has a deal lined up (wrt selling the highlighted assets), and for some... login to read the rest

dont understand what this means:  “On December 1, 2016, Mr. Lampert, on behalf of himself and the other Reporting Persons, met with representatives of Sears Hometown and Outlet Stores, Inc. (“Sears Hometown”) to propose that Sears Hometown... login to read the rest

Odd, Google doc images usually transfer without issue - at any rate, apologies! I'"" try it again. Here's the link if not (item 4 buried towards the end) - https://www.sec.gov/Archives/edgar/data/923727/000119312516783975/d299473dsc13da.htm

This sure is interesting. Anyone have any thoughts what fast Eddie is up to? Interesting to say the least.

Gotcha. So you are saying commissions, rent for the rest of the time, etc. are all baked in? The biggest cost (the actual cost of the inventory) has certainly been paid just making sure I

80% of current assets is inventory. For the 4Q16 closures, I assume the NWC extraction will occur as the liquidation sales take place over the course of the Q. The associated cash expense would likely be... login to read the rest

Thank you for this. Is the NWC immediately sellable/has been sold? Or are there additional costs to sell so it doesn't really free up the full balance but instead a fraction.

SHOS net-net update . . .     Moreover, we now have some further support for the notion that net-net value represents a reasonable approximation of SHOS liquidation value: the company announced 100 store closures for 4Q16 with... login to read the rest

Whoops.  As has been pointed out to me,    “Restricted Payment Conditions” means, with respect to any Restricted Payment, either (a) (i) no Default or Event of Default then exists or would arise as a result of... login to read the rest

Eddie keeps buying more of the stock and now owns 57.3% of the company.  It feels like his appetite to purchase is large enough to take out whatever volume the sellers are interested in selling... login to read the rest

It's the least I can do given how SHOS has performed since I've recommended it. As a part of implementing the America's Appliance Experts initiative, SHOS is deemphasizing KCD products relative to Samsung, LG, etc.  This is... login to read the rest

The building isn't all that valuable, it's the 12 acres of land that the developer really wanted. They are paying $260,000 / year in a 5 year triple net lease with 3% escalators. Once they renew... login to read the rest

Looks like two more maybe.   

Is there any other owned real estate that is marked similarly on the books? 

Hi Handley, Am I reading this right that now Sear's is competing with them basically? http://www.chicagobusiness.com/article/20160511/NEWS07/160519971/troubled-sears-plans-smaller-stores?X-IgnoreUserAgent=1 One initiative from the company is the debut of a new Sears store next week that's less than a tenth the size... login to read the rest

RECENT TRANSACTIONS BY THE REPORTING PERSONS IN THE SECURITIES OF SEARS HOMETOWN AND OUTLET STORES, INC.                                         Entity    Date ofTransaction      Descriptionof Transaction      SharesAcquired      SharesDisposed    PricePer Share   Edward S. Lampert      01/08/2016         Open Market Purchase         16,244            $ 7.8607    Edward S. Lampert      01/12/2016         Open Market Purchase         4,700            $ 7.8912    Edward S. Lampert      01/13/2016         Open Market Purchase         27,111            $ 7.8574    Edward S. Lampert      01/14/2016         Open Market Purchase         5,550            $ 7.7500    Edward S. Lampert      01/15/2016         Open Market Purchase         13,633            $ 7.6391    Edward S. Lampert      01/20/2016         Open Market Purchase         46,651            $ 7.0868    Edward

My key point is less that all of Eddie's purchases deserve to be imitated and more that he can directly improve SHOS's profitability by ending the price war he started at SHLD.  SHLD is likely to... login to read the rest

How has buying SHLD and its derivatives every time Eddie bought stock worked out so far?

The company is restricted from repurchasing shares until they renegotiate their ABL. I'm referring to Eddie's purchases.

SHOS reported $84 million in cash from operations during the first 6 months of their fiscal year.  That's almost $4/share in cash on an $8 stock!  Most of it came from changing working capital terms... login to read the rest