@lawrenceroman
Happy New Year. Year of the Horse 🐎
Fitting, since it sounds like the year of prediction markets ... anyone remembers OTB? 😆
Anyone have the over/under on Saks Fifth Avenue filling for Bankruptcy?
Reading this Sears / Lampert article and getting Billions flashbacks.
Is this about Saks today…
or Billions doing a Sears cosplay?
Different cycle, same movie.
Retail as a balance sheet arc never dies.
Fashion Retail stops being a business the moment it becomes a balance sheet.
Saks future looks as tangle as this pic of an old Sears building in Bergen County.
https://www.nytimes.com/2025/12/26/business/sears-seritage-edward-lampert.html?unlocked_article_code=1._k8.YR_d.b3sGNaA9aOx7&smid=nytcore-android-share
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