Report: Sears Closing Additional Stores

As Sears Holdings continues to fight for its survival, the struggling retailer is closing an additional 72 stores, according to a report from Business Insider.

Sears Comps Sink In Q1

Sears and Kmart comps continued to plunge in the first quarter, although Sears Holdings did post a profit based on its cost cutting and restructuring efforts.

Pier 1 Appoints New CEO

After conducting an executive search, Pier 1 Imports’ board of directors has appointed former Kmart executive Alasdair James president and CEO effective May 1.

Sears Holdings Casts Doubt On Its Future

With the future of Sears and Kmart a hot topic of conversation among housewares vendors and others throughout the retail community, the parent company of the two venerable retailers is casting doubt on their future.

With Sales Sliding, Sears Asserts Survival Plan

Sears Holdings Corp. has undertaken a restructuring program targeted to deliver at least $1 billion in annualized cost savings in 2017, which includes cost reductions from the previously announced closure of 108 Kmart and 42 Sears stores.

Sears Obtains Additional Credit Line

Sears Holdings Corporation has obtained a secured standby letter of credit facility (LC Facility) that provides the struggling retailer with additional liquidity to fund its operations, the company announced.

Sears Defends Vendor Payments In Response To WSJ Article

A report Friday, October 21, in the Wall Street Journal that toy vendor Jakks Pacific Inc. has stopped shipping Kmart led the retailer’s parent company to defend how it pays vendors in a blog post on the Sears Holdings website. In a quarterly conference call, Jakks officials said concerns over Kmart’s fiscal health led to the decision.

Sears Names Hollar CFO

Sears Holdings has named Jason Hollar as the company’s chief financial officer, effective immediately. He fills the position vacated by Robert Schriesheim, who in May announced his departure from the company.

Report: Sears Holdings Bankruptcy A Possibility

As Sears Holdings continues working to overcome slumping sales at its Sears and Kmart stores, the company is facing the possibility of a bankruptcy filing within one to two years, has reported, citing information from Fitch Ratings.