Facing what he called “significant near-term liquidity constraints” that includes a debt payment in the middle of October, Sears CEO Edward Lampert is proposing a plan to restructure and reduce the company’s debt.
Although the company touted an improvement in comparable store sales trends, Sears Holdings continued to post comp declines in the second quarter despite substantial under-performing store closures, even as company losses increased substantially.
Sears Holdings will close another 46 locations as part of what company officials said is an ongoing effort to focus on its best stores.
Edward Lampert’s ESL Investments has made a $400 million bid for Sears Holdings’ Kenmore business.
Sears Holdings is adding to its namesake store’s marketplace operation with branded products including TTI Floor Care labels Hoover, Dirt Devil and Oreck.
Sears Holdings has laid off about 200 employees, CNBC reported citing a recent WARN notice filed by the retailer in Illinois, with about 150 of those positions located at the company’s Hoffman Estates, IL, headquarters.
According to a recent report on CNBC, as Sears Holdings continues to look for ways to boost sales, the company is testing new store concepts, including a mini-Kmart inside a Sears store in Brooklyn, NY.
Sears Holdings Corp. posted a deeper net loss in a challenging first quarter and said it would close more stores. In addition, the company developed another deal with Amazon.
Sears under its Kenmore brand is debuting a new stand mixer that is being touted by the company as a “breakthrough design.”
Sears Holdings is in the process of closing an additional 40 stores in 24 states, according to a report from Business Insider.
Sears Holdings and Citi are extending its relationship related to co-branded and private label credit card offers that will include a long-term marketing deal related to the Shop Your Way Mastercard rewards program.
Sears Holdings has formed a special board of directors committee to initiate a formal process to explore the sale of its Kenmore brand and related assets, as well as the Sears Home Improvement Products and Parts Direct business of its Sears Home Services division.
Sears Holdings Corp. and its board of directors have received a letter from ESL Investments expressing the view that the company should pursue a divestiture of all or a portion of its Kenmore brand and related assets, the Sears Home Improvement business of the Sears Home Services division (SHIP) and the PartsDirect business of the Sears Home Services division.
Sears Holdings has identified a data breach that impacted some Sears and Kmart customers last fall.
Sears Holdings posted a profit in the fourth quarter following the new tax reform laws, although comp sales continued to decline.
In a recent SEC filing, Sears has reported that it will generate a positive net income in the fourth quarter following the federal tax reform package. However, comps for the quarter continued to decline.
Sears Holdings has added a new element to its Shop Your Way loyalty program: live streaming video services.
Sears Holdings Corp. has undertaken several initiatives to reconfigure its debt but warned that it would consider other options if the efforts fell short of its needs.
Sears Holdings is starting 2018 by closing 100 stores that consist of a mix of Sears and Kmart locations.
In a further move to leverage its brand portfolio, Sears Holdings is launching DieHard products on Amazon.com.