The once-mighty retailer continues to fade, with sales plummeting 25% last year. In the company’s most recent, dispiriting earnings call, CEO and largest shareholder Eddie Lampert suggested his hedge fund, ESL, might buy Sears’ Kenmore brand and some of its real estate.
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Revenue fell due to fewer stores and a 12% drop in comparable-store sales.
Penney's shares head to all-time lows.
Amazon already sells Sears' appliances.
The breakup of Sears may yet continue.