Sears Holdings Corporation

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US Q2 in brief: Finish Line, Zumiez, Cherokee, Gymboree Michelle Russell and Beth Wright | 25 Sep 15

Second-quarter earnings for the retail sector as a whole are forecast to be lower than the prior month, despite easy year-on-year comparisons. The Finish Line posted a small drop in net income, Zumiez saw its profit more than halve, Cherokee Global Brands posted a double-digit decline in net earnings, while Christopher & Banks swung to a loss, and Hudson's Bay was back in the black. 

US Q1 in brief: Finish Line, Cherokee, Destination Maternity Michelle Russell and Katie Smith | 26 Jun 15

First-quarter revenue forecasts for US apparel retailers fared far worse than earnings expectations. The Finish Line said it got off to a "solid start" with double-digit profit growth, and Cherokee was pleased with a "strong" quarter, despite some headwinds. Elsewhere, Urban Outfitters revealed a mixed quarter, while Men's Wearhouse booked record sales but a decline in earnings.

Sears to sell stores through REIT formation Michelle Russell | 2 Apr 15

US department store group Sears Holdings Corp is to sell around 250 stores through the creation of a real estate investment trust, in a bid to raise US$2.5bn as part of its cost cutting efforts.

Sears Q4 mixed but optimistic on improvements Michelle Russell | 26 Feb 15

Sears Holdings Corp has booked mixed results in its fourth-quarter but is optimistic improvements can be made.

Transparency mixed in Uzbek cotton supply chain Katie Smith | 5 Feb 15

Transparency among apparel brands and retailers appears to be mixed when it comes to sourcing cotton from Uzbekistan. New research has revealed that while a number of companies have made improvements to address the issue of forced labour within the sector, many are reluctant to disclose the policies they are implementing or detail information about their suppliers.

Lands' End taps Dolce & Gabbana USA president as CEO Katie Smith | 3 Feb 15

Apparel retailer Lands' End has named Dolce & Gabbana USA president Federica Marchionni as its new CEO, following the resignation of CEO Edgar Huber.

Sears Holdings cuts 115 corporate jobs Michelle Russell | 29 Jan 15

US department store group Sears Holdings is to cut 115 corporate jobs, the majority at its head quarters in Illinois, as part of cost cutting efforts.

Connected sourcing networks ease payment problems Michelle Russell | 20 Jan 15

Just as it seemed things couldn’t get any worse for American Apparel, reports emerged earlier this month that the struggling retailer has been delaying payments to its suppliers. While adding to the group's woes, industry observers believe such a move is also indicative of a wider issue facing the sector.

Sears Holdings records another quarterly loss Michelle Russell | 5 Dec 14

US department store retailer Sears Holdings has booked another loss in its third-quarter, as sales continue to decline.

Sears explores store sales to boost liquidity Michelle Russell | 7 Nov 14

US department store retailer Sears Holdings has said it's considering selling up to 300 stores in a bit to boost its finances.

Sears seeks to raise more cash Michelle Russell | 21 Oct 14

Sears Holdings has announced its intention to raise as much as US$625m through an unsecured loan and equity warrants in a bid to generate additional liquidity and shore up its balance sheet.

Primark inks US lease deal with Sears Holdings Katie Smith | 20 Oct 14

UK value fashion retailer Primark has inked a deal with Sears Holdings which will see it lease space in seven stores in the US, a move that could be a sign of things to come.

Top stories last week on just-style... Katie Smith | 20 Oct 14

The most-read stories on just-style last week included a look at the impact of China tightening up on corporate social responsibility, analyst opinion on JC Penney's new CEO, and an overview of Glenn Murphy's seven-year tenure at Gap.

Sears Holdings commences rights offering Michelle Russell | 16 Oct 14

Sears Holdings Corp commenced its rights offering, through which it plans to raise up to US$380m by selling off the majority of its stake in Sears Canada to generate additional liquidity.

ANALYSIS: Factoring - a lifeline for apparel suppliers? Michelle Russell | 15 Oct 14

The role played by factoring in the apparel supply chain came under the spotlight last week with reports suggesting that factoring companies have scaled back on coverage to vendors supplying department store retailer Sears Holdings. However, the transaction offers a lifeline to many apparel makers, and is seeing a resurgence as a major source of capital for the industry.

Sears Holdings exec Boire takes Canada CEO role Michelle Russell | 15 Oct 14

Ronald Boire, the EVP and chief merchandising officer of Sears Holdings' Kmart and Full Line formats has joined the firm's Canadian division as acting president and CEO.

Kmart reveals payment data breach Michelle Russell | 13 Oct 14

Kmart, a subsidiary of Sears Holdings, has revealed that its payment data systems have been breached, affecting around 1,200 of its stores.

Sears shares slide on concern over vendor payments Leonie Barrie | 9 Oct 14

Shares in US department store group Sears Holdings tumbled nearly 17% in trading yesterday (8 October) in response to reports that at least one "medium-sized" vendor had halted shipments to the retailer.

Sears to raise $380m from sale of Canada stake Katie Smith | 3 Oct 14

Sears Holdings plans to raise up to US$380m by selling off the majority of its stake in Sears Canada to generate additional liquidity ahead of the all-important holiday season.

Sears Canada CEO Campbell resigns after one year Katie Smith | 26 Sep 14

Sears Canada CEO Douglas Campbell has resigned after one year in the post, citing personal reasons.

Alliance and Accord urged to harmonise efforts in Bangladesh Leonie Barrie | 19 Sep 14

A review of the work carried out so far by the Alliance for Bangladesh Worker Safety says the group has made "significant and laudable progress" over the past 12 months - but pulls no punches when it comes to the many challenges that still lie ahead.

US: Sears to borrow $400m following ratings downgrade Leonie Barrie | 16 Sep 14

Sears Holdings is borrowing $400m from an investment fund headed by the department store retailer's chairman and CEO Edward Lampert, in a move that comes days after Fitch Ratings lowered its credit rating on the company.

US: Sears Holdings posts "unacceptable" Q2 loss Katie Smith | 22 Aug 14

US retailer Sears Holdings has said its wider loss in the second quarter was "unacceptable" and there is more work to be done to get the results it wants.

CANADA: Costs push Sears Canada to Q2 net loss Michelle Russell | 20 Aug 14

Retailer Sears Canada has moved to a net loss in its second-quarter due to expenses related to severance costs and impairment charges.

US: Sears appoints Tesco exec as Kmart president Michelle Russell | 12 Aug 14

Struggling retailer Sears Holdings Corporation has appointed former Tesco executive, Alasdair James, as president of its Kmart business.

US: Sycamore tight-lipped over interest in Sears Canada Michelle Russell | 5 Aug 14

Private equity firm Sycamore Partners has declined to comment on reports it is considering a bid for Sears Canada.

SOURCING: Alliance members buying more products from Bangladesh Leonie Barrie | 23 Jul 14

The group of North American brands and retailers - including Wal-Mart Stores, Gap Inc and VF Corporation - working to improve safety in Bangladesh's ready-made garment factories appears to be sourcing more products from the country as efforts to upgrade the industry take hold. But one year on, progress is "far from over", with the total cost likely to be in the region of $150m and take 12-18 another months to complete.

US: Sears Holdings Q1 loss widens on lower sales Katie Smith | 23 May 14

Struggling retailer Sears Holdings Corporation says it may close more stores this year after reporting a wider loss in the first-quarter, weighed down by lower sales.

US: Sears Holdings mulls sale of Canadian operations Katie Smith | 15 May 14

Retailer Sears Holdings Corporation is considering selling its struggling Canadian operations, as part of wider efforts to improve its financial flexibility.

US: Hutchinson to lead Sears supply chain business Michelle Russell | 8 Apr 14

US retailer Sears Holdings Corporation has appointed former Dell executive William Hutchinson as head of its supply chain business.






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