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I think that's as good an explanation of Lampert's plans for Sears as anything I've read. One thing I'll add--with how much malls are struggling, Lampert's pla

I think that's as good an explanation of Lampert's plans for Sears as anything I've read. One thing I'll add--with how much malls are struggling, Lampert's play for real estate isn't going to work out anywhere near as well as he might have hoped. Sears's, as an anchor for many malls, used to have extremely valuable real estate. Now, with the so-called "retail apocalypse" happening, the market for that space isn't what it used to be.

trepanne 8y ago
You might be surprised. Seritage is a public company (stock ticker is SRG); check out their SEC filings and investor presentations. They list several names of new tenants who've been taking up their redeveloped floor space. I think the desirability of the former Sears stores varies dramatically by location; some of them are hopeless ghost towns, but many of them apparently have bright hopes for non-department store tenants. Check it out. There's a reason Warren Buffett bought into SRG. This part of the strategy is working well.