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Keyword: sears

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  • Sears reveals 'substantial' doubts about future, shares plunge 11%

    03/22/2017 6:40:41 AM PDT · by Hojczyk · 21 replies
    cnbc ^ | March 22,2017 | reuters
    Sears Holdings, once the largest U.S. retailer, warned on Tuesday about its ability to continue as a going concern after years of losses and declining sales. "Our historical operating results indicate substantial doubt exists related to the company's ability to continue as a going concern," Sears said in the annual report for the fiscal year ended Jan. 28. Shares of the retailer were down almost 12 percent in premarket trade on Wednesday. The company said an inability to generate additional liquidity might limit its access to new merchandise or its ability to procure services. Continued operating losses also could restrict...
  • Sears Has ‘Substantial Doubt’ That It Will Stay in Business

    03/22/2017 6:47:54 AM PDT · by Red Badger · 114 replies
    ktla.com ^ | Posted 5:45 AM, March 22, 2017 | Staff
    After years of huge losses and store closings, the future is officially in doubt for Sears and Kmart. Sears Holdings, the holding company for the two iconic retail brands, warned investors late Tuesday that it can’t promise it will stay in business. It included the language in its annual report while insisting it might still turn things around. “Our historical operating results indicate substantial doubt exists related to the company’s ability to continue as a going concern,” said the statement. Sears Holdings said it can’t be sure it can raise the cash it needs through loans and debt financing. The...
  • MILO: Dear Half Of America, We At Sears F*****g Hate You!

    02/14/2017 8:19:06 PM PST · by Beave Meister · 35 replies
    Breitbart ^ | 2/14/2017 | Milo
    <p>Hi folks! Eddie Lampert, CEO of Sears Holdings here! I’ve been reliably informed that everyone who’s anyone in conservative America reads MILO, and he has been gracious enough to lend me his column today to send you a simple message — Sears and our other failing brand K-Mart fucking hate you!</p>
  • Sears, Kmart join other retailers in dropping Trump-branded items

    The list of companies dropping products that carry the Trump name grew this weekend, with two major U.S. retailers announcing that they’re no longer selling Trump Home items online. Reuters reported Saturday that Sears Holdings and subsidiary Kmart will discontinue online sales of 31 items from the Trump Home collection, which includes lines of living room and bedroom furniture, lamps and chandeliers.
  • Report: Sears, Kmart Remove Trump Line of Home Furnishings from Websites

    02/11/2017 8:48:37 PM PST · by Rockitz · 68 replies
    Breitbart.com ^ | 11 Feb 2017 | Katherine Rodriguez
    Sears and Kmart have stopped selling products from the Trump Home line on their websites, Business Insider reports. Items from Trump Home, which is part of the Trump Organization, were reportedly not available on both websites and did not appear in a search of either website as of Friday. “As part of the company’s initiative to optimize its online product assortment, we constantly refine that assortment to focus on our most profitable items,” a Sears Holdings spokesperson told Business Insider. “Amid that streamlining effort, 31 Trump Home items were among the items removed online this week. Products from the line...
  • Sears, Kmart drop 31 Trump Home items from their online shops

    02/11/2017 12:23:52 PM PST · by usafa92 · 139 replies
    Reuters ^ | 2/11/2017 | Jon Herskovitz
    Major U.S. retailers Sears and Kmart this week removed 31 Trump Home items from their online product offerings to focus on more profitable items, a spokesman said on Saturday. The decision follows retailer Nordstrom Inc's announcement this week it had decided to stop carrying Ivanka Trump's apparel because of declining sales, prompting President Donald Trump to take to Twitter to defend his daughter. White House spokesman Sean Spicer characterized the Nordstrom move as a "direct attack" on the president's policies. Neither Sears nor Kmart carried the Trump Home products in their retail stores, a Sears Holdings Corp spokesman said. Kmart...
  • Walmart Swings Its Axe Again and Will Now Slash 1,000 Corporate Jobs

    01/11/2017 11:39:27 AM PST · by aquila48 · 27 replies
    The Street ^ | Jan 11, 2017 | Lindsay Rittenhouse
    Walmart (WMT) , the country's largest private employer, plans to eliminate roughly 1,000 corporate jobs as it looks to boost its e-commerce business and trim costs. The jobs, mainly in the human resources department, will be cut before Jan. 31, as a result of increased e-commerce spending and rising employee wages, an anonymous executive told the Wall Street Journal. When contacted by TheStreet, Walmart declined in an email to comment on the job cuts but said the company has "not made any announcements" on its current corporate structure, adding "... we are always looking for ways to operate more efficiently...
  • Sears, Other Retailers Reel From Gales Of 'Creative Destruction'

    01/09/2017 2:58:45 AM PST · by expat_panama · 92 replies
    Investors Business Daily ^ | 1/05/2017 | TERRY JONES
    Sears. Macy's. Kohl's. Traditional department store retailers have taken hard hits over the Christmas holidays, with sales lagging the generally robust performance of retailers overall. Now, these mall stalwarts are slashing thousands of jobs and hundreds of stores, trying to right-size themselves. It's no coincidence. Sears on Thursday became the latest retailer to announce that it was restructuring... ...Macy's is letting 10,000 people go. And Kohl's warned about its decline in sales over the holidays. Analysts expect Kohl's to announce cuts. A few years back, it was discounter Wal-Mart, the biggest retailer on earth, announcing it was closing 100 stores....
  • Will Craftsman’s famous lifetime warranty still apply after $900M sale? (Leaving Sears) Ed. Tr.

    01/07/2017 8:40:30 AM PST · by brucedickinson · 81 replies
    Daily Mail ^ | 1-06-2017 | Jordan Poore
    Since Sears bought the trademark in 1927, Craftsman tools have had a famous lifetime - and unlimited - warranty. But after nearly 90 years, Sears announced Thursday that it's selling the Craftsman brand to Stanley Black & Decker Inc for $900 million that bosses hope will keep the company afloat. The change of hands has caused some to question whether Craftsman's lifetime warranty will still apply to tools people own now or purchase in the future.
  • Sears sells Craftsman brand to Stanley Black & Decker for about $900 million

    01/05/2017 8:00:47 AM PST · by Leaning Right · 140 replies
    Chicago Tribune. ^ | Jan. 5, 2017 | Lauren Zumbach
    Sears Holdings will sell its Craftsman tool brand to Stanley Black & Decker for about $900 million, the companies announced Thursday. The deal will provide another cash infusion for Sears, but it comes at a cost — broadening distribution of the well-known brand gives consumers one less reason to choose to shop at the struggling Hoffman Estates-based retailer.
  • Is Sears Dying a Slow Death?

    12/09/2016 1:17:01 PM PST · by Hojczyk · 113 replies
    Fox Business ^ | DECEMBER 9, 2016
    Sears (SHLD), the 130-year-old American icon, can’t find a way to stop the bleeding. The floundering retailer has closed hundreds of Sears and Kmart stores, cut costs and borrowed millions of dollars from CEO Eddie Lampert’s hedge fund to keep the business going. Sears invested in its online store and a loyalty program, Shop Your Way, in hopes of regaining its footing, but customers have yet to return in droves. On Thursday, Sears reported its fifth quarterly loss in a row, and sales continued their downward trend. Sears also revealed that it will accelerate plans to shutter underperforming stores. Jason...
  • Sears is on the brink of catastrophe as stores closures loom and top execs flee the company

    Things aren't looking good for Sears. The company is shutting down dozens of Kmart stores this month and two of its highest-ranking executives left this week in the midst of the key holiday shopping season. This comes following speculation among Sears and Kmart employees, suppliers, and several banks that the retailer will soon go bankrupt — something Sears has repeatedly dismissed. Jeff Balagna, formerly Sears' executive vice president, left the company Wednesday, "in order to focus on his other business interests and pursue other career opportunities," Sears said in an SEC filing dated November 23.
  • Moody's: Sears' and Kmart's shutdown is imminent

    09/14/2016 2:25:22 PM PDT · by PROCON · 140 replies
    businessinsider.com ^ | Sep. 14, 2016 | Hayley Peterson
    Moody's analysts say Sears and Kmart don't have enough money — or access to money — to stay in business. In a note published Wednesday, the analysts downgraded Sears' liquidity rating, saying the company is bleeding cash and will have to continue to rely on outside funding or the sale of assets, such as real estate, to sustain operations. "We recognize the risks associated with relying on these sources and continued shareholder support to finance its negative operating cash flow which is estimated by Moody's to be approximately $1.5 billion this year," the analysts wrote. Kmart in particular is...
  • Sears Puts Kenmore, Craftsman Up for Grabs

    08/26/2016 12:59:16 PM PDT · by Hojczyk · 99 replies
    Yahoo Finance ^ | August 26,2015
    Sears, which booked a 2Q loss, says a variety of companies are interested in the floundering retailer’s familiar appliance, tool and auto brands. More Sears Holdings (NASDAQ:SHLD), which booked another loss in the second quarter, has received interest from a variety of companies eyeing the floundering retailer’s familiar appliance, tool and auto brands. The Illinois-based company has grappled with challenges at Sears and Kmart, two chains that struggling to turn things around in a tough environment for retailers. Target (NYSE:TGT), Kohl’s (NYSE:KSS) and others have recently reported weaker sales as shoppers spend more online. Sears is facing some broader issues....
  • Sears may sell Kenmore and Craftsman brands

    05/28/2016 11:27:48 AM PDT · by PROCON · 97 replies
    CNN ^ | May 26, 2016 | Paul R. La Monica
    The slow, painful demise of Sears continues. The struggling retailer, which also owns equally troubled Kmart, reported a loss of $471 million in the first quarter, worse than a year ago. Sales fell more than 8%. Sears (SHLD) also announced that it may sell three of its iconic brands -- Kenmore, Craftsman and DieHard. The company said it is looking at strategic alternatives for its Home Services installation and repair businesses as well. These three brands -- dubbed KCD by the company -- are still well-known and popular. In a pre-recorded call for analysts and investors, CFO Rob Schriesheim said...
  • Sears Sold 70,000 Homes From Their Catalog. Are You Living in One?

    05/17/2016 12:12:08 PM PDT · by PROCON · 98 replies
    popularmechanics ^ | May 16, 2016 | Timothy Dahl
    Not long ago, the Sears, Roebuck and Co. mail-order catalog was the ultimate marketplace, much like Amazon is today. You could even buy a house straight from the catalog. Just pick out the home you like, and voila, Sears would deliver it just for you. (The best Amazon can do is either a DVD box set or houses that, uh, would have some size and space issues for most people.) These Sears homes weren't cheap low-end houses. Many of them were built using the finest quality building materials available during that time. It's not uncommon to find Sears homes...
  • Sears to close 78 stores this summer

    04/21/2016 4:07:42 PM PDT · by Olog-hai · 65 replies
    Associated Press ^ | Apr 21, 2016 7:06 PM EDT | Anne D’Innocenzio
    Sears Holdings Corp. will close another 78 stores — 68 Kmart units, and 10 Sears stores — as it looks to restore profitability. That accounts for about 5 percent of its store base, which is nearly 1,700 stores. The ailing company, based in Hoffman Estates, Illinois, had said in February that it would accelerate the closing of unprofitable stores following a “challenging” holiday season. The move announced Thursday is expected to generate a “meaningful level” of cash from the liquidation of store inventories and from the sale or sublease of some of the related real estate, it said Thursday. All...
  • Retail Apocalypse: 2016 Brings Empty Shelves And Store Closings All Across America

    02/01/2016 8:58:20 AM PST · by SeekAndFind · 134 replies
    EAD ^ | 02/01/2016 | Michael Snyder
    Major retailers in the United States are shutting down hundreds of stores, and shoppers are reporting alarmingly bare shelves in many retail locations that are still open all over the country. It appears that the retail apocalypse that made so many headlines in 2015 has gone to an entirely new level as we enter 2016. As economic activity slows down and Internet retailers capture more of the market, brick and mortar retailers are cutting their losses. This is especially true in areas that are on the lower portion of the income scale. In impoverished urban centers all over the nation,...
  • J.C. Penney to sell home appliances again after 33 years

    01/21/2016 8:10:52 PM PST · by jeannineinsd · 55 replies
    Fortune ^ | Phil Wahba
    The retailer sees a big opportunity in the appliance business, and in Sears' problems. For the first time in 33 years, the department store will be selling home appliances like refrigerators and washing machines by General Electric, Hotpoint, LG and Samsung, at 22 of its roughly 1,000 stores. If all goes well with the pilot, which begins Feb. 1 in stores in the San Antonio, San Diego and Tampa metro areas, Penney could roll out the home appliance offerings to hundreds more stores by October. The return to home appliances is the first major new initiative by former Home Depot...
  • UPS facility receives suspicious package addressed to alleged San Bernardino gunmen

    Police are investigating a UPS facility in San Bernardino that received a suspicious package addressed to the alleged gunmen in Wednesday's attack. San Bernardino police said the package was received at the location in the 1400 block of east Victoria Avenue from a Sears company.