Sears Holdings Corp (NASDAQ:SHLD) posted its ninth straight quarterly loss. The company is bleeding and the retail sector overall is not doing great, everyone knows this, but no one knows how to fix the company. Except perhaps Jim Cramer, he offered his views on how to fix Sears Holdings Corp (NASDAQ:SHLD) on CNBC recently.
” [...] It is just bleeding, Sears Holdings Corp (NASDAQ:SHLD) Canada is now bleeding. I don’t know what you do. Maybe you close every single unprofitable store as the leases come off, maybe that’s a way, you get a core profitability of a very small company, maybe that’s the way. If I was running it, I would come in, I would pay the leases, I would sell this and waive all the credit. Let’s break all these leases, Let’s pay them off. Let’s get down to a core group of stores and figure out which K-Mart is not doing well, still means K-Mart and Sears Holdings Corp (NASDAQ:SHLD). Now I am going to be told that’s wrong, Jim you don’t know what you are talking about, I do,” Cramer said.
It was also revealed that Sears Holdings Corp (NASDAQ:SHLD) didn’t buy back even a single share of the company from the $0.5 billion that it had under its authorization to repurchase. Cramer feels that Sears Holdings Corp (NASDAQ:SHLD) is not doing well in its Sears Club, compared to other retailers which are doing well in that. Cramer also revealed that K-Mart is one store where he doesn’t shop at all.