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Sears Holdings Corp (SHLD.OQ)

SHLD.OQ on NASDAQ Stock Exchange Global Select Market

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21 Feb 2018
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Latest Key Developments (Source: Significant Developments)

Sears Holdings Says Expects Total Revenue Of $4.4 Bln For Q4
Thursday, 15 Feb 2018 09:23am EST 

Feb 15 (Reuters) - Sears Holdings Corp ::SEARS HOLDINGS SAYS EXPECT TOTAL REVENUE OF $4.4 BILLION FOR Q4 - SEC FILING.EXPECTED Q4 NET INCOME ATTRIBUTABLE TO HOLDINGS’ SHAREHOLDERS $140 MILLION- $240‍​ MILLION.SEARS HOLDINGS - TOTAL COMPARABLE STORE SALES FOR Q4 DECLINED 15.6 PERCENT.Q4 REVENUE VIEW $3.86 BILLION -- THOMSON REUTERS I/B/E/S.NET INCOME EXPECTED IN Q4 IS INCLUSIVE OF A NON-CASH TAX BENEFIT OF ABOUT $445 MILLION TO $495 MILLION RELATED TO TAX REFORM.  Full Article

Sears Holdings Enters Amendment To Term Loan Credit Agreement
Thursday, 1 Feb 2018 09:26am EST 

Feb 1 (Reuters) - Sears Holdings Corp ::SEARS HOLDINGS - ‍ON JAN 29, ENTERED AMENDMENT TO TERM LOAN CREDIT AGREEMENT TO BORROW ADDITIONAL $20 MILLION FROM INITIAL LENDERS.SEARS HOLDINGS SAYS AMENDMENT, AMONG OTHER CHANGES, SEPARATES LOANS UNDER TERM LOAN FACILITY INTO TWO TRANCHES - SEC FILING.SEARS HOLDINGS CORP - THE LOANS UNDER THE TERM LOAN FACILITY MATURE ON JULY 20, 2020.SEARS HOLDINGS - PURSUANT TO AMENDMENT ALSO BORROWED FURTHER $60 MILLION FROM UNAFFILIATED LENDERS.  Full Article

Fairholme Capital Management LLC Reports 17.9 Pct Stake In Sears Holdings Corp As Of Nov 16
Thursday, 11 Jan 2018 06:12am EST 

Jan 11 (Reuters) - Sears Holdings Corp ::FAIRHOLME CAPITAL MANAGEMENT LLC REPORTS 17.9 PERCENT STAKE IN SEARS HOLDINGS CORP AS OF NOVEMBER 16 - SEC FILING.FAIRHOLME CAPITAL MANAGEMENT L.L.C. HAD EARLIER REPORTED 21.8 PERCENT STAKE IN SEARS HOLDINGS CORP AS OF NOVEMBER 1, 2017 - SEC FILING‍​.  Full Article

Sears Holdings Announces Plan To Enhance Liquidity And Accelerate Return To Profitability
Wednesday, 10 Jan 2018 07:00am EST 

Jan 10 (Reuters) - Sears Holdings Corp ::SEARS HOLDINGS ANNOUNCES PLAN TO ENHANCE LIQUIDITY AND ACCELERATE RETURN TO PROFITABILITY.RAISED $100 MILLION IN NEW FINANCING.HAS ALSO INITIATED SERIES OF FINANCIAL TRANSACTIONS TO RAISE AN INCREMENTAL $300 MILLION IN NEW LIQUIDITY.PURSUES AN ADDITIONAL $200 MILLION​ IN NEW FINANCING.SEARS HOLDINGS - AMENDED SECOND LIEN NOTES, MATURING OCTOBER 15, 2018, TO INCREASE BORROWING BASE ADVANCE RATE FOR INVENTORY, RESTART WITH Q2 OF 2018.SEARS HOLDINGS -‍​ PROGRESSING DISCUSSIONS ON ADDITIONAL TRANSACTIONS TO "ENHANCE LIQUIDITY AND STRENGTHEN BALANCE SHEET".OUTLINED INCREMENTAL ACTIONS TO FURTHER STREAMLINE OPERATIONS TO DRIVE PROFITABILITY.SEARS HOLDINGS - ACTIONS TO STREAMLINE OPERATIONS INCLUDE COST REDUCTIONS OF $200 MILLION ON ANNUALIZED BASIS IN 2018 UNRELATED TO STORE CLOSURES.SEARS HOLDINGS - AMENDED BORROWING BASE RELATING TO ITS SECOND LIEN NOTES, MATURING OCT 15, TO CHANGE ADVANCE RATE FOR INVENTORY TO 75% FROM 65%.ADJUSTED EBITDA IS EXPECTED TO BE BETWEEN NEGATIVE $10 MILLION TO NEGATIVE $70 MILLION FOR Q4 OF 2017.- EXPECT NET LOSS ATTRIBUTABLE TO SEARS HOLDINGS' SHAREHOLDERS OF BETWEEN $320 MILLION AND $200 MILLION IN Q4 OF 2017.COMPARABLE STORE SALES AT SEARS AND KMART FOR FIRST TWO MONTHS OF Q4 OF 2017 HAVE DECLINED IN RANGE OF 16%-17%.SEARS HOLDINGS - CONTINUING TO PURSUE SECURED CREDIT FACILITY, CONSISTING OF ABOUT $407 MILLION FIRST LIEN TRANCHE, SECOND LIEN TRANCHE OF UP TO $200 MILLION.  Full Article

Sears Says Entered Into Agreement To Extend Maturity Of Existing Term Loan To Jan 2019
Tuesday, 12 Dec 2017 05:00pm EST 

Dec 12 (Reuters) - Sears Holdings Corp ::SEARS HOLDINGS CORP - ENTERED INTO AGREEMENT TO EXTEND MATURITY OF ITS EXISTING TERM LOAN FROM JUNE 2018 TO JAN 2019.SEARS HOLDINGS CORP - ALSO INTENDS TO OBTAIN NEW SECURED CREDIT FACILITY.SEARS HOLDINGS CORP - INTENDS TO USE PROCEEDS FROM SECURED CREDIT FACILITY TO FUND PAYMENT OF ABOUT $407 MILLION INTO SEARS PENSION PLANS.  Full Article

Memento Recommends Sears To Consider Going Private
Thursday, 7 Dec 2017 07:45am EST 

Dec 7 (Reuters) - Sears Holdings Corp ::MEMENTO DELIVERS OPEN LETTER TO SEARS HOLDINGS BOARD.MEMENTO S.A. - RECOMMEND THAT SEARS HOLDINGS CORP'S BOARD CONSIDER STRATEGIC ALTERNATIVES SUCH AS GOING PRIVATE.MEMENTO S.A. - BELIEVE SEARS HOLDINGS' BOARD MUST FORM INDEPENDENT BOARD COMMITTEE TO LOOK AFTER EQUITY OWNERSHIP INTERESTS OF SHAREHOLDERS.MEMENTO S.A. - RECOMMEND SEARS HOLDING BOARD SEEK TEMPORARY RESTRICTION ON SHORT-SELLING IN ITS SHARES.MEMENTO S.A. - BELIEVE SEARS HOLDINGS' BOARD MUST SEEK AN SEC INVESTIGATION IN TO THE "POTENTIAL VIOLATIONS OF REGULATION SHO".  Full Article

Sears Holdings Q3 Loss Per Share $5.19
Thursday, 30 Nov 2017 06:00am EST 

Sears Holdings Corp ::SEARS HOLDINGS REPORTS THIRD QUARTER 2017 RESULTS.Q3 REVENUE $3.7 BILLION VERSUS $5.0 BILLION.Q3 LOSS PER SHARE $5.19.- TOTAL COMPARABLE STORE SALES DECLINED 15.3% DURING QUARTER.- STORE CLOSURES CONTRIBUTED TO OVER HALF OF DECLINE IN QTRLY REVENUE.SEARS HOLDINGS - QTRLY REVENUE ALSO NEGATIVELY IMPACTED BY DECLINE IN NO. OF PHARMACIES IN OPEN KMART STORES & FALL IN CONSUMER ELECTRONICS ASSORTMENTS.- QTRLY ADJUSTED LOSS PER SHARE $2.64.SEARS - ‍ONCE AGREEMENT WITH PENSION BENEFIT GUARANTY CORP COMPLETES, ESTIMATED CONTRIBUTIONS OF $550 MILLION TO PENSION PLANS IN 2018, 2019 IS ELIMINATED​ ‍​.SAYS "‍WILL BE TAKING ACTION IN NEAR TERM WITH RESPECT TO CERTAIN UPCOMING DEBT MATURITIES"​.- QTRLY ‍KMART COMPARABLE STORE SALES DECREASED 13 PERCENT, WHILE QTRLY SEARS COMPARABLE STORE SALES DECLINED 17 PERCENT​.  Full Article

Sears Holdings sees net loss of $595 mln - $525 mln in Q3
Wednesday, 8 Nov 2017 08:00am EST 

Nov 8 (Reuters) - Sears Holdings Corp :Q3 revenue $3.7 billion.Expects Q3 net loss attributable to Sears Holdings' shareholders to improve by approximately $190 million​.Entered deal with PBGC to release about 140 sears properties from ring-fence arrangement for $407 million of contributions to pension plans​.Says ‍"retail environment remains challenging", with continued pressures on sales​.Q3 2017 adjusted EBITDA is expected to improve by approximately $100 million​.Paid down outstanding borrowings under term loan maturing in June 2018 by $205 million during Nov, reducing outstanding balance to about $520 million​.Total comparable store sales declined 15.3% during quarter​.Paid down borrowings under term loan maturing in June of 2018 by $205 million during Nov reducing outstanding balance to about $520 million​.Qtrly ‍KMart comparable store sales decreased 13.0%, while Sears comparable store sales declined 17.0%​.Says ‍"we continue to review our capital structure to maximize our additional financial flexibility​".Will continue to evaluate alternatives to meaningfully reduce cash interest payments in 2018​.Expect a net loss attributable to Sears Holdings' shareholders of between $595 million and $525 million in Q3 of 2017​.At October 28, 2017, co had utilized approximately $805 million of its $1.5 billion revolving credit facility due in 2020​.Number of participants in company's pension plans has been reduced from about 400,000 to about 100,000​.  Full Article

Sears plans to close 45 Kmart stores, 18 Sears stores in late Jan 2018‍​
Friday, 3 Nov 2017 01:39pm EDT 

Nov 3 (Reuters) - SEARS HOLDINGS CORP : :SEARS HOLDINGS CORP - ON NOV 2, INFORMED ASSOCIATES AT 45 KMART STORES AND 18 SEARS STORES THAT CO WILL BE CLOSING THESE STORES IN LATE JANUARY 2018‍​.  Full Article

Sears Holdings enters second amended and restated loan agreement through units​
Thursday, 19 Oct 2017 04:42pm EDT 

Oct 19 (Reuters) - Sears Holdings Corp :Sears Holdings Corp - ‍ on October 18, co through units entered into a second amended and restated loan agreement​- SEC filing.Sears Holdings - entered agreement ‍which amended, restated amended and restated loan agreement, dated as of Oct 4, 2017, with JPP LLC and JPP II LLC​.Sears Holdings - ‍on Oct 18, pursuant to second amended and restated loan agreement, borrowers borrowed an additional $40 million from lenders​.  Full Article

BRIEF-Sears Holdings Says Expects Total Revenue Of $4.4 Bln For Q4

* SEARS HOLDINGS SAYS EXPECT TOTAL REVENUE OF $4.4 BILLION FOR Q4 - SEC FILING