Where exactly do they derive a majority of their profits from? I know it can't be from retail operations since K-mart is the shittiest of the shit. Is it mainly from financing activities or what?
It must be Sears? I bought a lawn tractor recently from there. Is there still uncertainty about what all of the real estate holdings are worth?
It looks like it was all written off during bankrupcy. And they can now sell those assets for millions of dollars, assets that are currently worth $0 on the balance sheet. They're selling stores for several millions, but it cost them $0 to produce since it was previously written off.
That is what I think also. This leads me to believe it will be pegged 'undervalued' because the costs of revenue and margins will be low and high.