Sears, Roebuck and Co.
April 23, 2018 at 2:46 pm
ESL Investments, the hedge fund led by Sears Holdings CEO Eddie Lampert, is proposing to buy the Kenmore brand, Sears' Home Improvement business, its PartsDirect division and some of the chain's real estate. In a letter to Sears’ board on Friday, ESL said: "We continue to see value in Sears and its underlying assets, and believe strongly…
April 9, 2018 at 2:14 pm
Best Buy said on Friday that some of its customers’ credit card information may have been compromised in a data breach that also hit Sears and Delta Air Lines. All three companies use a third-party firm, [24]7.ai, to provide online and mobile chat services for customers. Best Buy said in a blog post that [24]7.ai…
October 26, 2017 at 11:47 am
This week, Sears announced it's bringing back its iconic holiday catalog. The department store chain hasn't had a catalog since 2011. CNBC reports Sears has "reinvented" the 120-page gift guide, which includes holiday decor, home furnishings, games and toys, appliances, apparel and more. There will also be a digital version available on the retailer's app…
October 6, 2017 at 11:40 am
Sears Holdings Corp. is getting another cash infusion from CEO Edward Lampert, just in time for the key holiday season. Lampert has agreed to loan Sears $100 million through his ESL Investments fund — if the retailer agrees to pledge more stores or other assets as collateral. The agreement, disclosed in a recent filing with…
April 26, 2017 at 11:16 pm
Sears Holdings Corp. named its second finance chief in less than a year last Friday, as the struggling department store chain updated investors on its restructuring plan. The Hoffman Estates, Ill.-based company named Rob Riecker finance chief effective immediately. Riecker was previously controller and head of capital markets activities, and has been with Sears since 2005.…
February 7, 2017 at 9:19 am
Wow. A month into 2017 and The Limited and Wet Seal are closing their doors forever. Hundreds of stores gone, thousands of jobs gone. The rest of the brick-and-mortar retailers panic and wonder whether they can slash prices and profit margins again. Many are throwing up their hands, muttering that it’s impossible to fight the…
January 3, 2017 at 10:35 am
Sears Holdings Corp. CEO Eddie Lampert is opening his wallet once again to help keep the struggling retailer in business. Lampert, a hedge fund manager and Sears’ biggest investor, will offer a $200 million letter of credit to the department store chain through affiliates of his firm, ESL Investments Inc. The amount could be expanded to…
December 12, 2016 at 10:03 am
The Los Angeles city attorney’s office has sued four retailers, alleging deceptive advertising that it says misled shoppers into believing that thousands of products were on sale at a hefty discount. The retailers — J.C. Penney, Sears, Kohl’s and Macy’s — falsely advertised high “list” or “regular” prices on merchandise that was never actually for sale at that…
September 20, 2016 at 11:27 am
Kmart is closing 64 stores across 28 states. Sears Holdings, which owns Sears and Kmart, informed Kmart employees of the closures on Friday, according to several local news reports and multiple employees who spoke with Business Insider. The stores that are closing will begin liquidation sales on Sept. 22 and close by mid-December, employees said. Total Retail's…
July 11, 2016 at 1:26 pm
Black Friday is coming five months early for some retailers. Stores including Target, Sears and Banana Republic are offering deals around the same time as Amazon.com’s Prime Day sale, which occurs tomorrow. Competing retailers are betting that customers in the mood to shop — and maybe do some online price comparison — will head to more than just Amazon. Total Retail's…
