BTShine Posted August 11, 2014 Share Posted August 11, 2014 Couple posters (mevsemt and vinod1) that discussed the potential similarities/influence of Tesco on SHLD/SYW... Has anyone seen this video on Tesco in South Korea? It wouldn't surprise me if SHLD is trying to develop similar capabilities with SYW. Also, if they can build something similar and offer the service to other retailers who share space with them (Whole Foods, Trader Joes, etc.) it could really be interesting... and... 1. Rewards Program: I think looking at Tesco's clubcard program would provide some insight into how this might or might not work for Sears. Tesco's program has high frequency contact with customers i.e. each of its customers bought 20-30 items every week or so. That provided a lot of insight for Tesco to target individual preferences so that it did not have to do across the board discounts. It could just tailor targeted promotions to individual customers. It would be awesome to see how Sears will setup QR codes in subway stations so a Kenmore washer will be delivered by the time they get back to their studio apartment in Manhattan. Does anyone really think that Sears has the capability of executing this type of program? I don't think half of their core customer even knows what a QR code is. Honestly, if I spoke with 10 random people about "Shop Your Way," they would have no idea what that is. I only know SYW from following SHLD. Hope I'm not being rude but this is a reach to think SHLD has the kind of bench to execute on that kind of plan. SYW just seems like a way to slow the bleeding and experiment with technology Eddie knows little about. Picasso, I generally agree with you. I'm a fan of SHLD rolling out, and focusing on, their Shop Your Way program. But, I don't think they're a good candidate for copying Tesco's program in South Korea. Link to comment Share on other sites More sharing options...
Christopher1 Posted August 12, 2014 Share Posted August 12, 2014 I was reading the last St. Joe 10Q in order to see how Bruce Berkowitz is deploying the large amount of cash received after selling some lands. It seems he bought some Sears debt, that is also his largest FOCIX fund position: "As of June 30, 2014, the investment account included ... $100.2 million of corporate debt securities and $3.5 million of preferred stock. As of June 30, 2014, the Company's corporate debt securities were invested in one issuer who is a national retail chain and is non-investment grade." Link to comment Share on other sites More sharing options...
ERICOPOLY Posted August 12, 2014 Share Posted August 12, 2014 A reminder of the much-dreaded quarterly ritual of reporting results seems to have ignited some selling today: http://finance.yahoo.com/news/sears-holdings-announce-financial-results-171100263.html Link to comment Share on other sites More sharing options...
alertmeipp Posted August 12, 2014 Author Share Posted August 12, 2014 I was reading the last St. Joe 10Q in order to see how Bruce Berkowitz is deploying the large amount of cash received after selling some lands. It seems he bought some Sears debt, that is also his largest FOCIX fund position: "As of June 30, 2014, the investment account included ... $100.2 million of corporate debt securities and $3.5 million of preferred stock. As of June 30, 2014, the Company's corporate debt securities were invested in one issuer who is a national retail chain and is non-investment grade." Bearish that he is going up to debt? Link to comment Share on other sites More sharing options...
peridotcapital Posted August 12, 2014 Share Posted August 12, 2014 I was reading the last St. Joe 10Q in order to see how Bruce Berkowitz is deploying the large amount of cash received after selling some lands. It seems he bought some Sears debt, that is also his largest FOCIX fund position: "As of June 30, 2014, the investment account included ... $100.2 million of corporate debt securities and $3.5 million of preferred stock. As of June 30, 2014, the Company's corporate debt securities were invested in one issuer who is a national retail chain and is non-investment grade." Bearish that he is going up to debt? I don't think he is allowed to buy equities with that capital... too risky. Link to comment Share on other sites More sharing options...
thepupil Posted August 12, 2014 Share Posted August 12, 2014 Pursuant to the terms of the Investment Management Agreement as amended (the “Agreement”), with Fairholme Capital, Fairholme Capital agreed to supervise and direct the investments of an investment account established by us in accordance with the investment guidelines and restrictions approved by the Investment Committee of our Board of Directors. The investment guidelines are set forth in the Agreement and require that, as of the date of any investment: (i) at least 50% of the investment account be held in cash or cash equivalents, as defined in the Agreement, (ii) no more than 15% of the investment account may be invested in securities of any one issuer (excluding the U.S. Government) and (iii) any investment in any one issuer (excluding the U.S. Government) that exceeds 10%, but not 15%, requires the consent of at least two members of the Investment Committee. The investment account may not be invested in common stock securities. Link to comment Share on other sites More sharing options...
CorpRaider Posted August 12, 2014 Share Posted August 12, 2014 I was looking at that earlier, its interesting. BOD sez: Berkowitz picks are riskier than swamp land in Florida? Might need to fire up the ole JOE thread. I'm interested below $20. Link to comment Share on other sites More sharing options...
ni-co Posted August 12, 2014 Share Posted August 12, 2014 A reminder of the much-dreaded quarterly ritual of reporting results seems to have ignited some selling today: http://finance.yahoo.com/news/sears-holdings-announce-financial-results-171100263.html This stock has become so illiquid that the share price has even less informative value than Mr Markets normal mood swings. Link to comment Share on other sites More sharing options...
texual Posted August 13, 2014 Share Posted August 13, 2014 When many hundreds of thousands of shares trade a day, and large investors are capable of buying millions of shares within a quarter...doesn't seem that illiquid. This stock trades enough that I would not buy that argument as a means to validate the price movement or low price. That said, I am getting interested in buying some more shares if this trend continues. I've concluded that as long as the company is capable of spinning off or selling whatever it can, it will survive until a plan B (permanent capital investment vehicle, Berkowitz joining the board, etc). I'm bothered by SYW but it isn't to say that it could be successful. If ESL really wanted this to fly under the radar he could reverse split the stock or something a few times ;) Link to comment Share on other sites More sharing options...
merkhet Posted August 13, 2014 Share Posted August 13, 2014 I was surprised to see so many shares trade today, actually. Link to comment Share on other sites More sharing options...
ERICOPOLY Posted August 13, 2014 Share Posted August 13, 2014 I was surprised to see so many shares trade today, actually. It usually happens in large volumes after the bad news comes out on earnings day. Today, it only required the announcement of the scheduling of the earnings release. Link to comment Share on other sites More sharing options...
Luke 532 Posted August 13, 2014 Share Posted August 13, 2014 Recent interview with Ankur Gupta (MetaScale): http://www.pymnts.com/events/2014/sears-big-data-omnichannel-adventure/#.U-u_zGOFCZS Link to comment Share on other sites More sharing options...
BTShine Posted August 13, 2014 Share Posted August 13, 2014 Recent interview with Ankur Gupta (MetaScale): http://www.pymnts.com/events/2014/sears-big-data-omnichannel-adventure/#.U-u_zGOFCZS That's interesting. Here's another from last fall. Link to comment Share on other sites More sharing options...
merkhet Posted August 13, 2014 Share Posted August 13, 2014 I was surprised to see so many shares trade today, actually. It usually happens in large volumes after the bad news comes out on earnings day. Today, it only required the announcement of the scheduling of the earnings release. I accidentally ran across CNBC just now, and I heard Kate Spade dropped 25% yesterday because it missed estimates. I wonder if someone just decided that Sears was likely to have a bloodbath quarter and that's what led to the drop. *shrug* Link to comment Share on other sites More sharing options...
peridotcapital Posted August 13, 2014 Share Posted August 13, 2014 So much for the autonomy of the management team post-spin: Risqué Promotion Prompts Outcry From Lands’ End Customers: http://www.nytimes.com/2014/08/14/business/media/risque-promotion-prompts-outcry-from-lands-end-customers.html?partner=yahoofinance Link to comment Share on other sites More sharing options...
ni-co Posted August 13, 2014 Share Posted August 13, 2014 So much for the autonomy of the management team post-spin: Risqué Promotion Prompts Outcry From Lands’ End Customers: http://www.nytimes.com/2014/08/14/business/media/risque-promotion-prompts-outcry-from-lands-end-customers.html?partner=yahoofinance This is really a tempest in a teapot. Link to comment Share on other sites More sharing options...
Luke 532 Posted August 14, 2014 Share Posted August 14, 2014 No change in Chou's stake, still at 803,526. More 13-F's should be reported this week. Chou: https://www.sec.gov/Archives/edgar/data/1389403/000114036114032019/xslForm13F_X01/form13fInfoTable.xml Link to comment Share on other sites More sharing options...
merkhet Posted August 14, 2014 Share Posted August 14, 2014 I suspect that some of the drop over the last few days is due to the fact that most retailers are having a tough time in this environment -- it'll be interesting to see how Sears has fared over the last few months. Link to comment Share on other sites More sharing options...
bookie71 Posted August 14, 2014 Share Posted August 14, 2014 I happened to be in the Anchorage Sear's store yesterday, for the first time in ages. I think there were many more employees than customers. When we came here in 1970, going to Sears was like going to Costco. My things have changed. The inventory seemed low which is not usually a good sign. This isn't anything but an observation, but it doesn't look good , especially if other stores are in the same shape. Note: neither long or short and not interested in either position. Link to comment Share on other sites More sharing options...
Luke 532 Posted August 14, 2014 Share Posted August 14, 2014 Anybody else find the large position increases the past 2 quarters from these noteworthy investors just a bit interesting? Looking forward to see what they report in the next week or two. 46% Horizon Kinetics (Murray Stahl): 3.541M to 5.158M = +46% 31% Fine Capital (Debra Fine): 1.436M to 1.881M = +31% 18% Fairholme Fund (Bruce Berkowitz): 20.758M to 24.502M = +18% Q2 Stahl adds another 671,000+ shares (5.158M to 5.829M)... increase of 13% from prior quarter. He has increased his holdings by 65% in the past 3 quarters. Filing: http://www.sec.gov/Archives/edgar/data/1519418/000151941814000015/xslForm13F_X01/form13fhr-infoTable.xml Link to comment Share on other sites More sharing options...
Luke 532 Posted August 14, 2014 Share Posted August 14, 2014 Anybody else find the large position increases the past 2 quarters from these noteworthy investors just a bit interesting? Looking forward to see what they report in the next week or two. 46% Horizon Kinetics (Murray Stahl): 3.541M to 5.158M = +46% 31% Fine Capital (Debra Fine): 1.436M to 1.881M = +31% 18% Fairholme Fund (Bruce Berkowitz): 20.758M to 24.502M = +18% Q2 Stahl adds another 671,000+ shares (5.158M to 5.829M)... increase of 13% from prior quarter. He has increased his holdings by 65% in the past 3 quarters. Filing: http://www.sec.gov/Archives/edgar/data/1519418/000151941814000015/xslForm13F_X01/form13fhr-infoTable.xml Berkowitz, Stahl, and Fine aren't messing around anymore. Fine Capital’s position up 41% since previous quarter (2,655,921 shares in Q2 from 1,881,353 in Q1). She has increased her stake by 85% in the past 3 quarters (1.436M to 2.656M). http://www.sec.gov/Archives/edgar/data/1339161/000091957414004459/xslForm13F_X01/infotable.xml Link to comment Share on other sites More sharing options...
merkhet Posted August 14, 2014 Share Posted August 14, 2014 I'd be curious to know if these are % increases in position or AUM... Link to comment Share on other sites More sharing options...
Luke 532 Posted August 14, 2014 Share Posted August 14, 2014 I'd be curious to know if these are % increases in position or AUM... Share count Link to comment Share on other sites More sharing options...
Mephistopheles Posted August 14, 2014 Share Posted August 14, 2014 I'd be curious to know if these are % increases in position or AUM... Share count I think he means whether they are due to AUM flows or actually increasing the position's % of portfolio. Link to comment Share on other sites More sharing options...
Luke 532 Posted August 14, 2014 Share Posted August 14, 2014 I'd be curious to know if these are % increases in position or AUM... Share count I think he means whether they are due to AUM flows or actually increasing the position's % of portfolio. I know, I was just clarifying the percentages I posted are strictly share count. Link to comment Share on other sites More sharing options...
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