Sears: A Struggle for Survival
商品編號：9B19B008
出版日期：2019/07/15
再版日期：2019/07/15
商品來源：Ivey
商品主題：Accounting; International Business
商品類型：Case (Pub Mat)
涵蓋議題：US retail industry;financial health;Altman Z-Score;bankrupt;financial ratio analysis
難易度：4 - Undergraduate/MBA
內容長度：15 頁
地域：United States
產業：Retail Trade;
事件年度：2017
On January 20, 2017, Moody’s Investors Service, an American credit rating agency, downgraded the Corporate Family Rating for Sears Holdings Corporation from Caa1 to Caa2, stating that the company did not have enough money to stay in business and was relying on outside funding or sale of assets to sustain operations. The leading US retail chain had a revenue turnover of US$22.14 billion in Fiscal Year (FY) 2016–17. However, beginning in FY 2011–12, it had suffered losses year after year. Its stock had fallen 38 per cent between April 2016 and April 2017. The retail chain’s majority shareholder, chair, and chief executive officer was making some changes, but critics questioned his motives and retail acumen. With falling share prices, continuous losses, decreasing assets, and a decided shift in the industry away from traditional retail, it seemed that it would be only a matter of time before Sears Holdings Corporation reached its end. In light of its poor financial performance and consecutive losses on a yearly basis, a new Master of Business Administration graduate and junior analyst was assigned the task of analyzing the retail chain’s financial status and assessing the possibility of its bankruptcy.
教學手冊：8B19B008;
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