United States

Sears Holdings Corp (SHLD.O)

SHLD.O on Nasdaq

5 Dec 2016
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Latest Key Developments (Source: Significant Developments)

Sears Holdings names Jason Hollar chief financial officer
Friday, 14 Oct 2016 06:00am EDT 

Sears Holdings Corp : Sears Holdings names Jason Hollar chief financial officer . Sears Holdings Corp - prior to joining Sears Holdings, Hollar was at Delphi Automotive .Sears Holdings Corp - Jason Hollar succeeds Robert Schriesheim as CFO.  Full Article

Sears's Craftsman unit said to get interest from Black & Decker, Hong Kong's TTI- Bloomberg, citing sources
Tuesday, 4 Oct 2016 12:27pm EDT 

:Sears's Craftsman unit said to get interest from Black & Decker, Hong Kong's TTI; bids may value the unit at $2 bln-Bloomberg citing sources.  Full Article

Sears Holdings CEO says no plans to shut Kmart
Monday, 3 Oct 2016 02:26pm EDT 

Sears Holdings Corp :CEO Eddie Lampert says "there are no plans and there have never been any plans to close the Kmart format" -blog post.  Full Article

Sears Holdings - Co, Sears Roebuck, Kmart enters into second lien credit agreement
Friday, 2 Sep 2016 04:39pm EDT 

Sears Holdings Corp : Co , Sears Roebuck Acceptance Corp. and Kmart Corporation entered into a second lien credit agreement- SEC filing . Pursuant to agreement borrowers borrowed $300 million of term loans . Maturity date for term loan is July 20, 2020 and term loan will not amortize . Credit agreement allows borrowers to seek to obtain from third parties up to $200 million of additional loans under credit Source: (http://bit.ly/2c0YHxA) Further company coverage: [SHLD.O] ((bangalore.newsroom@thomsonreuters.com;)).  Full Article

Sears Holdings posts Q2 loss of $3.70/share
Thursday, 25 Aug 2016 06:00am EDT 

Sears Holdings Corp: Sears Holdings reports second quarter 2016 results . Q2 loss per share $3.70 . Q2 adjusted loss per share $2.03 . Q2 revenue $5.7 billion versus $6.2 billion . Q2 same store sales fell 5.2 percent . Qtrly Kmart and sears domestic comparable store sales declined 3.3% and 7.0% . Says Kmart and sears domestic comparable store sales declined 3.3% and 7.0%, respectively, in q2 of 2016 . During q2 of 2016, company generated cash proceeds of $176 million from sale of real estate properties and other asset sales . Received an offer from ESL Investments Inc to provide $300 million of additional debt financing . "Citigroup Global Markets and Liontree Advisors are assisting us in these efforts as we continue our assessment over next few months" . As we move into 2h, continue to explore alternatives for Kenmore, Craftsman , Diehard, Sears home services businesses . Merchandise inventories were $4.7 billion at July 30, 2016, compared to $5.0 billion at august 1, 2015 . Under ESL proposal, co may offer to 3rd party investors right to participate up to additional $200 million of debt financing .Total long-term debt was $3.4 billion and $2.2 billion at July 30, 2016 and January 30, 2016.  Full Article

J C Penney Co on conf call- from inventory standpoint, feel really good going into fall
Friday, 12 Aug 2016 10:15am EDT 

J C Penney Company Inc : CEO on conf call - opened 27 new Sephora locations in Q2, plan to open 4 more later this fall . CEO on conf call - have to pivot to less weather-sensitive categories . Expect sequential comp sales in back half of year to improve from first half . Expect to close on sale of corporate headquarters building later this year . CEO- over 50 percent of our online orders go through our stores . Ceo- had strength in apparel in Q2 . CFO- July usually clearance month for us, but clearance was down this July, "feel really good moving into Q3" . From inventory standpoint, feel really good whether it is apparel or non-apparel, going into fall . CEO- in the process of having mobile devices for check out, will be ready in next couple of weeks . CEO- if a Sears closes in a mall where we are, it is a net positive for us . Ceo on conf call - believe we can now open more Sephora locations than we previously anticipated . Ceo on conf call - will be adding Clinique to brands, will launch in a small number of locations . Ceo- customers spending on improving homes more than ever . Ceo- "we will not maintain any store or stategic entity that doesnt provide value to our customers and our strategic future" . Ceo- " I think the state of consumer really hasn't changed from last quarter".  Full Article

Seritage Growth posts Q2 FFO shr $0.54
Thursday, 4 Aug 2016 04:05pm EDT 

Seritage Growth Properties : Seritage growth properties reports second quarter 2016 operating results .Q2 FFO per share $0.54.  Full Article

Sears Holdings on call - do not intend to borrow money to fund continued operating losses
Thursday, 26 May 2016 06:52am EDT 

Sears Holdings Corp : On call - do not intend to borrow money to fund continued operating losses . On call - intend to increase level of member engagement while focusing on best members, best stores and best categories . Expect rent obligations will fall as space in stores is recaptured as part of reconfiguration of footprint or exiting leases from July . Our primary focus for 2016 is to generate positive EBITDA . On call- are more aggressively evaluating physical store footprint and accelerating closing of unprofitable stores Further company coverage: [SHLD.O] (Bengaluru Newsroom: +1 646 223 8780).  Full Article

Sears Holdings expects to pursue other actions to improve liquidity
Thursday, 26 May 2016 06:39am EDT 

Sears Holdings : In addition to previous actions taken to date in 2016, expect to pursue other near-term actions to improve liquidity- sec filing .Additional actions may include expense reductions as well as asset sales.  Full Article

Sears Holdings says board has decided to explore alternatives for two businesses
Thursday, 26 May 2016 06:18am EDT 

Sears Holdings Corp : Sears holdings reports first quarter 2016 results and other corporate developments . Q1 revenue $5.4 billion versus $5.9 billion . Q1 loss per share $4.41 . Q1 adjusted loss per share $1.86 . Qtrly Kmart and Sears domestic comparable store sales declined 5.0% and 7.1% . 6.1% decline in comparable store sales during quarter . During Q1 of 2016, company closed a $750 million senior secured term loan . Also entered into a $500 million committed secured loan facility maturing in july 2017 in Q1 . Proceeds were used to reduce outstanding borrowings under its asset-based revolving credit facility . "Operating performance still remains well below our goals" . "Sears domestic and Kmart apparel businesses continue to be negatively impacted by a heavily promotional competitive environment" . CFO Robert Schriesheim will be departing from his position with company . Schriesheim has agreed to continue in his current role until we have identified his replacement . Schriesheim will continue to remain an advisor to company through January 31, 2017 . Company's cash balances were $286 million at April 30, 2016 compared with $238 million at january 30, 2016 . Total long-term debt was $3.4 billion and $2.2 billion at April 30, 2016 and January 30, 2016 . Board of directors has decided to explore alternatives for Kenmore, Craftsman and Diehard & Sears home services businesses.  Full Article


Eddie Lampert proposes to buy further stake in Sears Hometown

(Corrects Dec. 2 story to change source to "ESL Investments, Inc" from "Sears Holdings Corp" in paragraph one and three)