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Sears Holdings Corp (SHLD.OQ)

SHLD.OQ on NASDAQ Stock Exchange Global Select Market

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Latest Key Developments (Source: Significant Developments)

Sears Holdings Corp ‍announces launch of kenmore products on Amazon.Com​
Thursday, 20 Jul 2017 08:00am EDT 

July 20 (Reuters) - Amazon.Com Inc ::Sears Holdings Corp - ‍announced launch of kenmore products on Amazon.Com​.Sears Holdings Corp - terms of deal were not disclosed..  Full Article

Sears Holdings says co, Sears Roebuck Acceptance, Kmart entered into first amendment to second lien credit agreement, dated Sept. 1, 2016
Friday, 7 Jul 2017 05:37pm EDT 

July 7 (Reuters) - Sears Holdings Corp ::Sears holdings says co, sears roebuck acceptance, kmart entered into first amendment to second lien credit agreement, dated sept 1, 2016 - sec filing.Sears - ‍amendment to provide line of credit facility pursuant to which co and its units may borrow line of credit loans in amount not to exceed $500 million.Sears holdings corp - ‍company expects to use proceeds from line of credit loans for general corporate purposes​.Sears holdings corp - esl investments inc has indicated that it is considering participating in credit facility as a line of credit lender.Sears holdings - ‍edward s. Lampert, co's ceo and chairman, is sole stockholder, ceo and director of esl investments, inc, which controls agent​.Sears holdings corp - ‍line of credit loans will be secured on a pari passu basis with company's existing obligations under credit agreement​.  Full Article

Sears Holdings to initiate closing of 8 Sears, 35 Kmart stores‍​
Friday, 7 Jul 2017 12:21pm EDT 

July 7 (Reuters) - Sears Holdings Corp ::Sears Holdings says on July 7, co will initiate closing of an additional eight Sears and 35 KMART unprofitable stores‍​ - blog.Expect to introduce smaller concept stores in upcoming quarters while reducing number and/or size of larger-format, less competitive stores.  Full Article

Seritage says Sears Holdings to continue to pay co rent until it vacates stores
Friday, 23 Jun 2017 06:28am EDT 

June 23 (Reuters) - Seritage Growth Properties ::Seritage Growth Properties - pursuant to terms of master lease units co, units of Sears Holdings Corp, Sears Holdings exercised right to terminate master lease.Seritage Growth Properties - Sears Holdings will continue to pay co rent until it vacates stores which is expected to occur in October 2017 - SEC filing.Seritage Growth Properties - Sears Holdings to pay termination fee equal to 1 year of annual base rent, plus 1 year of estimated annual operating expenses.Seritage Growth Properties - termination of master lease with respect to 20 unprofitable stores.  Full Article

Sears Holdings provides strategic restructuring update
Tuesday, 13 Jun 2017 08:17am EDT 

June 13 (Reuters) - Sears Holdings Corp -:Sears Holdings provides strategic restructuring update.Sears Holdings Corp - ‍on track to achieve $1.25 billion in annualized cost savings in 2017​.Sears Holdings provides strategic restructuring update.Sears Holdings Corp - actions include elimination of approximately 400 full-time positions at our corporate offices and support functions globally.Sears Holdings Corp - ‍certain positions at field operations will be impacted by th restructuring actions​.Sears Holdings Corp - majority of eliminated positions are related to corporate workforce at sears holdings' headquarters in hoffman estates.Sears Holdings -as part of restructuring, first eliminated open positions and reduced contract employees in an effort to minimize impact on employees.Sears Holdings Corp - ‍sears holdings has actioned nearly $1.0 billion in annualized cost savings to date​.Sears Holdings - continue to evaluate strategic options across our portfolio to unlock value from our assets through partnerships, joint ventures or other means.  Full Article

Sears Holdings ‍​recently aware of security incident involving unauthorized credit card activity at some Kmart stores - Spokesman
Wednesday, 31 May 2017 11:06pm EDT 

June 1 (Reuters) - Sears Holdings Corp :Sears holdings ‍​recently aware of security incident involving unauthorized credit card activity following certain customer purchases at some kmart stores - spokesman.Sears holdings immediately launched thorough investigation,engaged leading third party forensic experts to review systems and secure affected part of network - spokesman.Kmart store payment data systems were infected with a form of malicious code that was undetectable by current anti-virus systems,application controls - sears holdings spokesman.Sears holdings - "once aware of the new malicious code, we quickly removed it and contained the event".Sears holdings - based on the forensic investigation of security incident, no personal identifying information was obtained by those criminally responsible.  Full Article

Sears Holdings Q1 earnings per share $2.28
Thursday, 25 May 2017 06:00am EDT 

May 25 (Reuters) - Sears Holdings Corp ::Sears holdings reports first quarter 2017 results.Q1 revenue $4.3 billion versus $5.4 billion.Q1 earnings per share $2.28.Q1 adjusted loss per share $2.15.Sears Holdings Corp - on may 15, 2017, company entered into an agreement to annuitize $515 million of pension liability with MLIC.Sears Holdings Corp says "this was certainly a challenging quarter for our company".Sears Holdings Corp says "are moving decisively with our $1.25 billion restructuring program".Sears Holdings - agreement to annuitize pension liability with MLIC is expected to have an immaterial impact on funded status of total pension obligations.Sears Holdings Corp says at KMart, comparable store sales decreased 11.2% during Q1 of 2017.Q1 same store sales fell 11.9 percent.Sears Holdings Corp says sears domestic comparable store sales decreased 12.4% during quarter.  Full Article

Sears Holdings extends debt maturity and derisks pension obligations
Tuesday, 23 May 2017 07:00am EDT 

May 23 (Reuters) - Sears Holdings Corp : :Announced agreements to extend a portion of its $500 million 2016 secured loan facility and annuitize $515 million of its pension obligations.Sears Holdings - "Actions serve to reduce size of company's debt and pension obligations, as well as future risk associated with company's liabilities".Says Sears Holdings extends debt maturity and derisks pension obligations.Sears Holdings Corp says targeting a reduction in our outstanding debt and pension obligations of $1.5 billion for fiscal 2017.Sears Holdings - on May 22, some Holdings' units entered into agreement to repay $100 million of $500 million 2016 secured loan facility at maturity in July 2017.Sears Holdings Corp - certain Holdings' subsidiaries entered into agreement to extend maturity of remainder of $500 million 2016 secured loan until Jan 2018.Sears Holdings Corp - On May 15, company entered into an agreement to annuitize $515 million of pension liability with Metropolitan Life Insurance Company.Sears - agreement to annuitize $515 million of pension liability with MLIC,under which MLIC will pay future pension benefit payments to about 51,000 retirees.  Full Article

Sears Holdings says One World informed co of their intention to file lawsuit against co - Blog
Monday, 15 May 2017 01:29pm EDT 

May 15 (Reuters) - Sears Holdings Corp :Says One World has informed co of their intention to take the step of filing a lawsuit against co - Blog.Sears Holdings - One World "threatened to refuse to perform under their supply agreement unless we agree to what we believe are unreasonable demands".Says "we will take the appropriate legal action".  Full Article

Sears Holdings provides update on restructuring program
Friday, 21 Apr 2017 04:56pm EDT 

April 21 (Reuters) - Sears Holdings Corp ::Sears Holdings details progress and further actions under strategic restructuring program.Sears Holdings - updates strategic restructuring program, including incremental actions to up annualized cost savings target to $1.25 billion from $1.0 billion.Sears Holdings- remains focused on its integrated retail strategy, is actively pursuing a number of new partnerships and other membership offerings.Sears Holdings Corp - company expects to report positive net income for q1 of 2017.Sears Holdings Corp - is in discussions with its lenders to evaluate refinancing options for its secured loan facility maturing in July 2017.Sears Holdings - Rob Riecker, currently controller and head of capital market activities, has been appointed chief financial officer of Sears Holdings.Sears Holdings Corp - Riecker succeeds Jason Hollar, who has resigned from Sears Holdings.Sears Holdings says "retail environment remained challenging with continued softness in store traffic and elevated price competition" in Q1.Says since beginning of fiscal year, comparable store sales at sears and Kmart declined 11.9 pct on a combined basis.Sears Holdings-expect q1 2017 net income attributable to shareholders will range between $185 million- $285 million, excludes impact of any additional store closures.Sears Holdings Corp - currently expect q1 2017 adjusted ebitda in the range of a loss of $230 million and $190 million.  Full Article

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Sears to sell Kenmore appliances on Amazon; shares jump

Sears Holdings Corp's shares soared as much as 24 percent after the struggling retailer said it would sell its Kenmore home appliances on Amazon.com and integrate the brand's smart gadgets with the online giant's Alexa digital assistant. | Video