be worth more than $30 a share?
closed Monday at only $29.54, and
closed at $16.55.
At the other end of the retail spectrum, investors are only about $6 for
, and at the low end,
Family Dollar Stores
closed Monday at $26.
is one of the few higher-valued competitors, with its shares above $50.
So I have to ask: Who thinks Sears is better than Target or even JC Penney for that matter?
The outrageous spread between Sears' share price and better-positioned retailers may be due for a correction after investors digest today's earnings report from Sears. The company reported a loss of $146 million for its third quarter, which ended Nov. 1, and said sales fell at both its Kmart and Sears chains in the U.S.
So what's Sears doing in response? It will shutter a whopping eight more stores this quarter and continue buying back shares.
Personally, I recommend that Sears wait a bit before purchasing its shares so that it can get a better price after its value comes down to reality.