April 2017

Sears’ Annual Report: Company Doubts It Can Continue

Once the largest retailer in the U.S., Sears’ annual report offered doubts that it will be able to continue as a going concern. ABF Journal illustrator Jerry Gonzalez depicts this news in FinalCut.

Final Cut April 2017

Sears Holdings’ annual report shared doubts that the company will be able to continue as a going concern.

“Our historical operating results indicate substantial doubt exists related to the company’s ability to continue as a going concern,” Sears said in its annual report for the fiscal year ended January 28.

Once the largest U.S. retailer, Sears has spun off some of its stores into a real estate investment trust, sold some brands, like Craftsman tools and Lands End, and repeatedly raised debt from billionaire Chief Executive Edward Lampert’s hedge fund to cope with the slump.