Sears Will Do More Than Survive Says Tenth Avenue Fund Manager

Sears may be heavily shorted on Wall Street, but it also has an impressive real estate portfolio and a strong e-commerce platform, said Don Ingham, Portfolio Manager, Tenth Avenue Holdings Core Fund. The bullish Ingham added that Sears has already gone through the pain of store closings and financial restructuring so it has upside potential. Meanwhile, Ingham is less positive on J.C. Penney which he said has fewer brands to leverage while competing in a very crowded space. Finally, Ingham said Amazon will face greater competition going forward and need new offerings because it can no longer compete with Walmart and Target solely on price.