Tag Archives: Sears Holdings

Sears Exploring Creation of a REIT

Sears Holdings

HOFFMAN ESTATES, Ill.-Sears Holdings (NASDAQ: SHLD) said it is looking into the formation of a real estate investment trust (REIT) as a way of generating cash from its real estate portfolio. In a filing with the U.S. Securities and Exchange Commission, the retail holding company said potentially 200 to 300 of its stores would beMore »

Last updated: November 7, 2014

Sears Refutes Store-Closings Report

Sears Holdings

HOFFMAN ESTATES, Ill.-A Sears Holdings spokesman said a news report detailing a number of closings of Sears, Kmart and Sears Auto Center locations is inaccurate. The story, which appeared on the stock-market website Seeking Alpha, said Sears would close 116 stores under all three nameplates, with layoffs of more than 6,000 workers. Responding to aMore »

Last updated: October 24, 2014

Sears Holdings’ Boire Named Acting President, CEO for Sears Canada

Ronald Boire

  HOFFMAN ESTATES, Ill.-Ronald D. Boire, executive vice president, chief merchandising officer and president for Sears and Kmart, has been named acting president and CEO for Sears Canada, effective today. “I have enjoyed working with Ron and appreciate the contributions he has made to support our transformation,” said Edward S. Lampert, Sears Holdings (NASDAQ: SHLD)More »

Last updated: October 15, 2014

Sears Shares Fall on Reports of Vendor Halting Shipments

Sears Holdings

NEW YORK-The share price of Sears Holdings stock fell by double digits on wire-service reports that a vendor had stopped shipping the retail company. Reports from Business Insider, Bloomberg, CNBC and MarketWatch said an unnamed vendor had decided to halt its shipments to Sears after insurance firms that provide credit insurance to vendors had decidedMore »

Last updated: October 8, 2014

Sears Puts Sears Canada Shares Up for Sale

Sears Holdings

HOFFMAN ESTATES, Ill.-Sears Holdings is putting 40 million of its shares in Sears Canada up for sale, in a move expected to generate up to $380 million, according to separate statements from the U.S. retailer. The shares will be offered for C$10.60 a share (slightly less than $9.50), the closing price for Sears Canada stockMore »

Last updated: October 2, 2014

CEO Campbell to Leave Sears Canada

Douglas Campbell

TORONTO-Douglas Campbell, Sears Canada’s president and CEO, said he will leave the retailer by the end of this calendar year. Campbell told the company that he is leaving to return to the United States, “to tend to personal family issues,” according to a company statement. Sears Canada’s board will begin to search for his successorMore »

Last updated: September 30, 2014

Sears’ Red Ink Grows in Q2

Sears Holdings

HOFFMAN ESTATES, Ill.-Sears Holdings reported a net loss of $573 million in its fiscal second quarter, compared to a net loss of $194 million in the second quarter of last year. Edward Lampert, the company’s chairman and CEO, termed the bottom-line performance “unacceptable” and said the company is taking steps to address the results. “ThisMore »

Last updated: August 21, 2014

Sears Names James to Head Kmart

kmart

HOFFMAN ESTATES, Ill.-Alasdair James has been appointed president and chief member officer of Kmart by the mass retailer’s parent, Sears Holdings. In his new role, James oversees the Kmart operation, including the driving of the format strategy, managing profit and loss and “aligning merchandise, marketing, pricing and selling with the needs and wants of ShopMore »

Last updated: August 12, 2014