Sears Holdings Corporation

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Sears thrown another lifeline with $100m cash injection Michelle Russell | 6 Oct 17

Edward Lampert, owner and CEO of Sears Holdings has thrown another lifeline to the troubled retail chain with a further cash injection in the lead-up to the key holiday shopping season.


US Q2 in brief – Finish Line, Zumiez, Tailored Brands, Vince Holding just-style | 22 Sep 17

In the most recent second-quarter filings from US apparel and footwear brands and retailers, PVH upped its full-year guidance based on strong second-quarter results, while Guess saw its results boosted by solid growth in both Europe and Asia. Oxford Industries, meanwhile, saw mixed results as earnings fell but sales edged up.


Sears thrown US$200m lifeline from CEO Lampert Hannah Abdulla | 18 Jul 17

Troubled US department store retailer Sears Holdings has just been thrown a US$200m lifeline from its CEO Edward Lampert.


Sears to shutter another wave of stores Beth Wright | 11 Jul 17

US retail giant Sears Holdings Corp is to shutter an additional eight Sears and 35 Kmart unprofitable stores as part of its efforts to return to profitability.


US Q1 in brief – Cherokee, The Finish Line, J Crew Michelle Russell and Beth Wright | 10 Jul 17

In the most recent first-quarter filings from US apparel and footwear brands and retailers, G-III Apparel moved to a loss on acquisition charges, while Guess saw earnings fall on soft Americas sales. Kate Spade, meanwhile, saw earnings slump on the back of sales declines, while Hudson's Bay recorded comparable store declines on the back of lower domestic store traffic across all banners. 


Sears Canada to axe 2,900 jobs, close stores amid restructure Beth Wright | 23 Jun 17

Department store retailer Sears Canada is to axe around 2,900 jobs and shutter 59 stores as part of a court-supervised restructuring of the business.


Sears Canada seeks creditor protection Beth Wright | 22 Jun 17

Department store retailer Sears Canada and certain of its subsidiaries is seeking court protection from its creditors in a bid to restructure its business.


Sears inks financial deal to buy time with creditors Michelle Russell | 24 May 17

US retail giant Sears Holdings Corp has unveiled steps to improve its financial position by extending some of its debt load and reducing the size of its pension obligations.


US Q4 in brief – Cherokee, Vince Holding, Destination Maternity Michelle Russell and Beth Wright | 15 May 17

In the most recent fourth-quarter filings from US apparel and footwear brands and retailers, Destination XL moved to a profit but booked lower sales, while Caleres moved to a loss in the quarter. VF Corporation, meanwhile, revealed a fall in both sales and earnings for the quarter, while Stein Mart moved to a loss as a result of "aggressive" promotions. 


Sears Canada books Q4 loss Beth Wright | 27 Apr 17

Sears Canada says its work to reinvent the business is starting to resonate the business, despite booking a loss in the fourth quarter.


Sears raises savings target to $1.25bn, names new CFO Beth Wright | 25 Apr 17

US retail giant Sears Holdings Corp has revealed the next steps in its transformation plan, including cutting a further US$250m in costs across its operations and naming a new chief financial officer.


Sears CEO snaps up company shares despite future doubts Beth Wright | 29 Mar 17

Edward Lampert, CEO of US retail giant Sears Holdings Corp, has purchased almost 526,000 shares in the same week the company expressed "substantial doubt" as to whether it can continue to operate as a profitable business.


Sears has "substantial doubt" of future Beth Wright | 22 Mar 17

US retail giant Sears Holdings Corp has expressed "substantial doubt" the company can continue to operate as a profitable business.


Sears lays off 130 staff as part of restructuring plans? Beth Wright | 27 Feb 17

US retail giant Sears Holdings Corp is understood to have laid off 130 employees at its corporate offices last week, as part of an US1bn cost-cutting plan outlined earlier this month.


Sears to cut $1bn in costs as restructuring continues Michelle Russell | 10 Feb 17

US retail giant Sears Holdings Corp is to cut around US$1bn in costs across its operations in the next phase of its transformation plan that will see new efforts to drive efficiencies in pricing, sourcing and the supply chain.


Sears to shutter 150 stores to fund transformation Beth Wright | 6 Jan 17

US retail giant Sears Holdings Corporation is to shutter an additional 150 loss-making stores to fund its transformation strategy, two days after netting a US$500m lifeline to stay afloat.


Sears granted lifeline to fund operations Beth Wright | 3 Jan 17

US retail giant Sears Holdings has secured a US$500m lifeline to stay afloat just a day after it had reportedly announced plans to initiate yet another round of store closures in early 2017.


Sears Canada cost cutting weighs on Q3 Michelle Russell | 12 Dec 16

Sears Canada widened its losses and saw sales tumble in its third-quarter, reflecting cost cutting initiatives carried out in the prior quarter and a weaker Canadian dollar. 


US Q3 in brief – The Finish Line, Destination Maternity, Cherokee, Sears Michelle Russell and Beth Wright | 9 Dec 16

In the most recent third-quarter filings from US apparel and footwear brands and retailers, Sears Holdings remained optimistic despite widening its net losses, while Vince Holding blamed challenging conditions and warm weather for a fall in both earnings and sales. Abercrombie & Fitch, meanwhile, revealed a "disastrous" quarter as sales fell and earnings plummeted 80%, while American Eagle Outfitters booked record sales and its 9th consecutive quarter of profit improvement.


Sears names Jason Hollar as finance chief Beth Wright | 17 Oct 16

US retail giant Sears Holdings has promoted Jason Hollar to chief financial officer, effective immediately.


US Q2 in brief - The Finish Line, Cherokee, Zumiez, Vince Holding, Tailored Brands Michelle Russell and Beth Wright | 9 Sep 16

In the most recent second-quarter filings from US apparel and footwear brands and retailers, Tailored Brands showed improvement on Q1 but saw earnings slide, while DSW booked mixed results. Abercrombie & Fitch widened its net losses but remained optimistic, while Destination Maternity revealed improved losses. Express, meanwhile, delivered what it described as a "disappointing" second-quarter, below management expectations, and Macy's saw a "distinct" improvement in its sales and earnings trends for the quarter. 


Sears Holdings secures $300m loan amid Q2 loss Michelle Russell | 26 Aug 16

US retail giant Sears Holdings has secured US$300m in debt financing from CEO Edward Lampert's privately owned hedge fund ESL Investments after moving to a loss in its second-quarter. 


Inventory project sparks Kmart shut-down rumours Beth Wright | 28 Jul 16

US retail giant Sears Holdings has denied media reports that it plans to close all of its Kmart stores and that the chain is facing bankruptcy after staff were seen moving merchandise out of the stockrooms and onto the sales floor.


Sears Canada president Kirkman to step down Beth Wright | 27 Jul 16

Department store retailer Sears Canada has announced its president, Carrie Kirkman, is to leave the company after less than a year in the role.


Sears Holdings shutters New York apparel design office Beth Wright | 15 Jul 16

US department store group Sears Holdings Corp has confirmed its Manhattan apparel and design office will close today (15 July), as part of the retailer's plans to consolidate its apparel operations.


Sears Canada sees Q1 net losses widen Michelle Russell | 9 Jun 16

Sears Canada has widened its net losses in the first quarter and recorded declines in sales and gross margin as the department store retailer focuses on re-engineering the business to drive future growth.


Sears takes "aggressive" action closing 78 stores Michelle Russell | 22 Apr 16

US retail giant Sears Holdings is to close 68 Kmart and ten namesake stores this summer as part of "aggressive" plans to strengthen the company and return it to profitability.


US Q4 in brief: Cherokee Global Brands, Perry Ellis, Destination Maternity Michelle Russell | 15 Apr 16

In the most recent fourth-quarter filings from US apparel brands and retailers, Destination Maternity and Perry Ellis saw their losses narrow, while New York & Co moved to a net profit. However, Iconix Brand Group cut its outlook after swinging to a loss, Finish Line saw its net profit plummet 90%, and Cherokee Global Brands posted a mixed performance. 


Sears looks to lift apparel through sourcing changes Michelle Russell | 10 Feb 16

Sears Holdings is to try to improve the performance of its apparel division through changes to sourcing and pricing, accelerate the closing of unprofitable stores, and implement additional cost savings, after forecasting a net loss in its fourth-quarter.


US Q3 in brief: Finish Line, Gymboree, Cherokee Global Brands, Men's Wearhouse Michelle Russell and Katie Smith | 7 Jan 16

In the most recent third-quarter filings from US apparel brands and retailers Gymboree, Aeropostale, Sears and New York & Co narrowed their losses, while Oxford Industries, Destination Maternity and J Crew saw theirs widen. Both The Finish Line and Men's Wearhouse swung to a loss. On a positive note, The Children's Place, Express, American Eagle Outfitters, G-III Apparel Group and Abercrombie & Fitch booked higher earnings. 

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