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Sears Holdings Corp (SHLD.O)

SHLD.O on Nasdaq

4.00USD
12 Dec 2017
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Latest Key Developments (Source: Significant Developments)

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

Sears ‍teams with Operation Homefront to grant mortgage-free homes to veterans this holiday season​
Thursday, 12 Oct 2017 08:02am EDT 

Oct 12 (Reuters) - Sears Holdings Corp :Sears - ‍teams with Operation Homefront to grant mortgage-free homes to veterans this holiday season​.  Full Article

Sears Holdings, through units, enteres amended and restated loan agreement ‍​
Thursday, 5 Oct 2017 09:47am EDT 

Oct 5 (Reuters) - Sears Holdings Corp :Sears Holdings - On Oct 4, Co, through units, entered amended and restated loan agreement which amended and restated loan agreement, dated Jan 3, 2017‍​.Sears Holdings - After giving effect to initial incremental loan, outstanding amount under amended loan agreement was $499.4 million.Sears Holdings Corp - Pursuant to amended and restated loan agreement, borrowers under loan agreement borrowed an additional $100 million from lenders.Sears Holdings Corp - The incremental loans mature on April 3, 2018‍​.Sears Holdings Corp - ‍Original loans under amended and restated loan agreement continue to mature on July 20, 2020​.Sears Holdings Corp - ‍Incremental loans will have an annual interest rate of 11%, with accrued interest payable monthly-SEC filing​.Sears Holdings Corp - ‍ Subject to satisfaction of certain conditions up to an additional $100 million May be drawn by co prior to December 1, 2017​.  Full Article

Sears enters into licensing agreements for Kenmore, Diehard brands
Tuesday, 22 Aug 2017 08:00am EDT 

Aug 22 (Reuters) - Sears Holdings Corp ::Sears enters into licensing agreements for Kenmore and Diehard brands.Terms of deals were not disclosed.Sears -Cleva North America Inc will manufacture Kenmore and Kenmore elite vacuums and accessories for distribution at retailers worldwide.Sears Holdings - ‍signed two licensing agreements that will broaden reach of its Kenmore and diehard brands internationally ​.  Full Article

Sears Holdings enters into amendment to letter of credit and reimbursement agreement
Thursday, 10 Aug 2017 05:18pm EDT 

Aug 10 (Reuters) - Sears Holdings Corp -:Sears Holdings - through units entered into a third amendment to letter of credit and reimbursement agreement dated december 28, 2016 - sec filing​.Sears Holdings-amendment entered into related with initial lenders assigning $140 million of commitments under lc facility to certain unaffiliated lenders​.  Full Article

Algerian wheat purchase raises U.S. farmer hopes for exports

CHICAGO, Dec 13 Falling prices have lured a big buyer to U.S.-grown, low-protein wheat, raising the prospect for farmers of more exports and the hope that the market for low-protein wheat may have reached its nadir.