Seritage posts Q1 net loss of $23.4M; interim CEO highlights asset sales plan

Seritage Growth Properties

2025-Q1 EPS reported -$0.42 revenue$4,599,000

Net loss attributable to common shareholders of $23.4M ($0.42/diluted share) vs $20.2M loss in prior-year quarter.
Generated $29.9M gross proceeds from asset sale at 7.7% cap rate; negotiating $70M PSA for premier development asset.
Cash on hand $107.1M as of March 31; NOI-cash basis at share of $2.6M.
CEO Andrea Olshan stepped down April 11; Chairman Adam Metz appointed Interim CEO at $80k/month salary.
Securities class action and three derivative suits pending; $0.4375/share preferred dividend declared for Series A.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.