Content about Sears Holdings Corp.

December 5, 2014

A cruise industry executive is the newest member of the board of directors for Sears Holdings Corp. 

A cruise industry executive is the newest member of the board of directors for Sears Holdings Corp.

"I am very pleased to welcome Kunal S. Kamlani to our board," said Sears Holdings Chairman and CEO Edward S. Lampert. "His broad-based financial services expertise coupled with leading a company with a strong focus on its customers make him a great fit for our board as we continue our transformation to a member-centric company that leverages Shop Your Way and Integrated Retail."

September 23, 2014

Kmart has unveiled its annual Fab 15 holiday toy list, a week after Toys “R” Us announced its Fabulous 15.

Kmart has unveiled its annual Fab 15 holiday toy list, a week after Toys “R” Us announced its Fabulous 15.

To help drive sales, Kmart has also unveiled a "Trending Toy Ticker" at Kmart.com/Fab15. The ticker continually updates the top-selling toys as the season progresses to help shoppers keep up to date with the latest trends.

September 10, 2014

According to Lands’ End president and CEO Edgar Huber, the company is well positioned to continue executing against its strategic initiatives to drive long-term sales and earnings growth.

According to Lands’ End president and CEO Edgar Huber, the company is well positioned to continue executing against its strategic initiatives to drive long-term sales and earnings growth.

The retailer, which completed its separation from Sears on April 4, has achieved double digit year-over-year adjusted EBITDA growth for more than four consecutive quarters as of the second quarter of fiscal 2014.

September 3, 2014

Keith Sherwell, who served as CIO of Sears Holding Corp from March 2010 to June 2013, has been named CIO of the Office Depot international division, effective Sept. 15. Sherwell advised the board of OfficeMax during merger negotiations with Office Depot, and has served as a technology integration consultant to Office Depot since the completion of the merger in November 2013.

Keith Sherwell, who served as CIO of Sears Holding Corp from March 2010 to June 2013, has been named CIO of the Office Depot international division, effective Sept. 15. Sherwell advised the board of OfficeMax during merger negotiations with Office Depot, and has served as a technology integration consultant to Office Depot since the completion of the merger in November 2013.

August 21, 2014

Describing second-quarter earnings as "unacceptable," Sears Holdings chairman and CEO Edward Lampert added that his company's transformation is continuing and online sales are growing.

Describing second-quarter earnings as "unacceptable," Sears Holdings chairman and CEO Edward Lampert added that his company's transformation is continuing and online sales are growing.

The company reported second-quarter net loss of $573 million, compared with a loss of $194 million in the same quarter last year. Revenues decreased $858 million to $8.0 billion for the quarter ended Aug. 2, 2014,

July 22, 2014

Sears Outlet Stores, a subsidiary of Sears Hometown and Outlet Stores, has leased the former Sears location on E Front Street, expanding Outlet Store operations and services, while offering an economic boost with mass job creation.

Sears Outlet Stores, a subsidiary of Sears Hometown and Outlet Stores, has leased the former Sears location on E Front Street, expanding Outlet Store operations and services, while offering an economic boost with mass job creation.

January 16, 2014

Sears and Kmart are the first companies to engage with the Pikato platform and have already seen mobile engagement rates soar 1,100%, according to Pikato.

Sears and Kmart are the first companies to engage with the Pikato platform and have already seen mobile engagement rates soar 1,100%, according to Pikato.

Pikato’s retail mobile marketing solution personalizes the customer shopping experience to increase consumer engagement and deliver measurable results.

September 3, 2013

Sears Hometown and Outlet Stores saw net income for the second quarter drop to $9.1 million from $21.1 million a year earlier, due, in part, to expenses associated with its spinoff from Sears Holdings Corp, according to the company.

Sears Hometown and Outlet Stores saw net income for the second quarter drop to $9.1 million from $21.1 million a year earlier, due, in part, to expenses associated with its spinoff from Sears Holdings Corp, according to the company.

These results come a little more than a week after Sears Holdings saw revenues decrease to $8.9 billion for the quarter from $9.5 billion for the year-ago quarter. Fewer Kmart and Sears full-line stores accounted for approximately $210 million of that decline.

August 22, 2013

Sears Holdings saw revenues decrease to $8.9 billion for the quarter ended August 3, from $9.5 billion for the year-ago quarter. Fewer Kmart and Sears full-line stores accounted for approximately $210 million of that decline.

HOFFMAN ESTATES, Ill. — Sears Holdings saw revenues decrease to $8.9 billion for the quarter ended August 3, from $9.5 billion for the year-ago quarter. Fewer Kmart and Sears full-line stores accounted for approximately $210 million of that decline. 

July 10, 2013

Sears was arguably synonymous with its “Big Book” catalog, but as the world became more technologically advanced, the retailer bade its catalog and catalog stores farewell and shifted to a new retail model of locally owned and operated dealer stores.

HOFFMAN ESTATES, Ill. — Sears was arguably synonymous with its “Big Book” catalog, but as the world became more technologically advanced and look books went digital, the retailer bade its catalog and catalog stores farewell and shifted to a new retail model of locally owned and operated dealer stores. 

May 28, 2013

Sears Holding Corp. reported a bigger-than-expected net loss of $279 million for the first quarter of fiscal 2013, compared to net income of $189 million in the first quarter of fiscal 2012.

HOFFMAN ESTATES, Ill. — Sears Holding Corp. reported a bigger-than-expected net loss of $279 million for the first quarter of fiscal 2013, compared to net income of $189 million in the first quarter of fiscal 2012. 

The retailer also said that it is considering selling its protection-agreement business in an ongoing effort to raise cash as it struggles to improve its profits.

October 9, 2012

Sears Holdings Corp., which in February announced it would spin off its Hometown and Outlet businesses as a separate publicly traded entity, said Tuesday it expects to receive about $446.5 million in gross proceeds from an offering tied to the spinoffs.

HOFFMAN ESTATES, Ill. — Sears Holdings Corp., which in February announced it would spin off its Hometown and Outlet businesses as a separate publicly traded entity, said Tuesday it expects to receive about $446.5 million in gross proceeds from an offering tied to the spinoffs.

The offering of rights to purchase shares of the spinoff debuted on the Nasdaq under the "SHOSR" ticker symbol in September. According to Sears, the rights offering expired on Monday; preliminary results show that more than 95% of the options were exercised.

September 7, 2012

Sears Holdings Corp. reported a loss of $132 million for the second quarter, tightened from a loss of $146 million in the year-ago period.

HOFFMAN ESTATES, Ill. — Sears Holdings Corp. reported a loss of $132 million for the second quarter, tightened from a loss of $146 million in the year-ago period. Sales dropped 6.6% to $9.47 billion and same-store sales declined as well, by 2.9% at U.S. Sears stores and by 4.7% at its Kmart units.

August 6, 2012

Damco announced it has been named a 2012 Partner in Transformation for Sears Holdings Corp. in recognition of its innovative contributions to Sears. Damco is a leading third-party logistics provider specializing in customised freight forwarding and supply chain solutions.

NEW YORK — Damco announced it has been named a 2012 Partner in Transformation for Sears Holdings Corp. in recognition of its innovative contributions to Sears. Damco is a leading third-party logistics provider specializing in customised freight forwarding and supply chain solutions.

Sears grants the Partners in Transformation award to a select group of supplier companies who have been helping support the transformation of the company through innovation around customers, core retail excellence and financial and operational discipline.

July 23, 2012

Sears Holdings Corp. said that former interim CEO Bruce Johnson will serve as president and CEO of Sears Hometown and Outlet Stores once the unit is spun off from the retailer.

HOFFMAN ESTATES, Ill. — Sears Holdings Corp. said that former interim CEO Bruce Johnson will serve as president and CEO of Sears Hometown and Outlet Stores once the unit is spun off from the retailer.

Johnson served as interim CEO of Sears Holdings from 2008 to early 2011.
 
Last February, Sears Holdings announced it would spin off its Sears Hometown and Outlet businesses in an effort to raise an expected $400 million to $500 million.
 

May 2, 2012

Sears Holdings Corp. revealed in a Monday filing with the Securities and Exchange Commission that the previously announced spinoff of its Sears’s Outlet and Sears’s Hometown and Hardware stores will now combine the two chains into one separate company.

HOFFMAN ESTATES, Ill. — Sears Holdings Corp. revealed in a Monday filing with the Securities and Exchange Commission that the previously announced spinoff of its Sears’s Outlet and Sears’s Hometown and Hardware stores will now combine the two chains into one separate company.

The move, part of Sears’ initiative to cut expense and regain profits, will result in the newly named Sears Hometown and Outlet Stores Inc. and a public offering that is expected to raise $400 to $500 million for Sears.

April 18, 2012

Sears Holdings Corp. said Tuesday that it completed the $270 million sale of 11 full-line Sears store locations to General Growth Properties.

HOFFMAN ESTATES, Ill. — Sears Holdings Corp. said Tuesday that it completed the $270 million sale of 11 full-line Sears store locations to General Growth Properties.

Sears said the stores will continue to operate as Sears locations into 2013 or 2014, with final closing dates to be announced later this year. The stores are in Florida, Hawaii, Illinois, Iowa, Minnesota, Oklahoma, Texas, Utah and Washington.

Sears announced in December it would close between 100 and 120 stores to raise cash after a disappointing holiday season.

March 15, 2012

In a move to ensure that vendors continue to supply Sears its goods, Sears Holdings Corp.'s top shareholder ESL Investments, a hedge fund owned by Edward Lampert, has agreed to assume some payment obligations.

HOFFMAN ESTATES, Ill. — In a move to ensure that vendors continue to supply Sears its goods, Sears Holdings Corp.'s top shareholder ESL Investments, a hedge fund owned by Edward Lampert, has agreed to assume some payment obligations.

In a filing with the U.S. Securities and Exchange Commission on Wednesday and reported by Reuters, Sears said ESL made a deal on Jan. 26 with a financial institution to acquire 80% interest in an agreement designed to ensure payment to vendors in the event of a bankruptcy filing by a company.

February 17, 2012

A spokesman for Sears Holdings Corp. said that the owner of Sears and Kmart stores is cutting 100 jobs at its headquarters in Hoffman Estates, Ill.

HOFFMAN ESTATES, Ill. — A spokesman for Sears Holdings Corp. said that the owner of Sears and Kmart stores is cutting 100 jobs at its headquarters in Hoffman Estates, Ill.

According to Chris Brathwaite, Sears spokesman, the cuts cover a range of positions. The terminated employees were notified Thursday.

The retailer has not said whether additional cuts are planned.

January 13, 2012

Sears Holdings Corp. confirmed Thursday that John Goodman, its chief of apparel and home division, has resigned the company, effective immediately.

HOFFMAN ESTATES, Ill. — Sears Holdings Corp. confirmed Thursday that John Goodman, its chief of apparel and home division, has resigned the company, effective immediately.

Goodman was hired two years ago as executive VP of apparel and home, charged with turning around the retailer’s clothing business. His departure, which Sears says happened last week, coincides with the Jan. 3 arrival of Ron Boire, the former Brookstone president and CEO, as executive VP and chief merchandising officer for Sears and Kmart brands.

January 3, 2012

Orchard Supply Hardware Stores Corp. announced that its spin-off from Sears Holdings Corporation was completed at 11:59 p.m. EST on Dec. 30, 2011.

SAN JOSE, Calif. — Orchard Supply Hardware Stores Corp. announced that its spin-off from Sears Holdings Corporation was completed at 11:59 p.m. EST on Dec. 30, 2011. Trading of Orchard’s Class A Common Stock will begin Tuesday on the Nasdaq Capital Market under the symbol “OSH”.

December 19, 2011

SPRINGFIELD, Ill. — Illinois Gov. Pat Quinn signed legislation Friday that grants hundreds of millions of dollars in tax breaks and incentives aimed at keeping Sears Holdings Corp., along with CME Group Inc., which operates the Chicago Mercantile Exchange, headquartered in Illinois.

Lawmakers approved the business tax breaks earlier this month, but Quinn had not yet signed the bill. Both companies had openly threatened to leave the state without some kind of significant aid package.

December 12, 2011

Reuters news service has reported that the shareholders of Sears Holding Corp. will end up with 80% of the common stock in Orchard Supply Hardware stores, following an attempt to spin off the California hardware chain into a separate unit.

HOFFMAN ESTATES, Ill. — Reuters news service has reported that the shareholders of Sears Holding Corp. will end up with 80% of the common stock in Orchard Supply Hardware stores, following an attempt to spin off the California hardware chain into a separate unit.

December 9, 2011

Illinois House leaders have agreed to pass tax breaks in order to keep Sears Holdings Corp. from abandoning its Hoffman Estates, Ill., headquarters in search of a new out-of-state home, according to Reuters.

CHICAGO — Illinois House leaders have agreed to pass tax breaks in order to keep Sears Holdings Corp. from abandoning its Hoffman Estates, Ill., headquarters in search of a new out-of-state home, according to Reuters.

The deal is also designed to keep Ill.-based securities and commodities trading company CME Group in-state as well.

The House had previously shot down the tax package. 

September 29, 2011

JPMorgan said Thursday it has hired Sears Holdings Corp. president of financial services Susan Ehrlich as a senior VP.

New York City -- JPMorgan said Thursday it has hired Sears Holdings Corp. president of financial services Susan Ehrlich as a senior VP.

Ehrlich will be charged to help create new payments services for customers, retailers and small businesses.

Ehrlich managed Sears’s expansion of payment and credit products over a five-year period for the retailer.