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Sears Holdings Corp. has named Robin Michel, formerly president of Giant Foods, as the retailer’s new grocery and pharmacy chief.
Michel, a veteran supermarket executive, joins the operator of Sears and Kmart stores at a time when mass merchandise chains are moving more aggressively into the food business. Get the full story »
American Airlines, which is battling third-party ticket sellers over distribution costs and methods, Tuesday said it has reached a deal with Priceline.com to use American’s direct connect technology to access fares.
American, a unit of AMR Corp, said Priceline will begin issuing its tickets through the link in the near future. The companies did not disclose terms of the deal. Get the full story »
From Bloomberg News | Sears Holdings Corp. opted not to rival a $3 billion bid for clother J. Crew Group Inc. from TPG Capital and Leonard Green & Partners LP, said two people familiar with the matter. Get the full story>>
The Kardashian sisters are launching a line of clothing at Sears as the moderate department store chain continues to revamp its women’s apparel business.
The clothing line, called the Kardashian Kollection, is set to arrive in August at 400 Sears stores nationwide. The brand is exclusive to Sears, Roebuck and Co., a unit of Hoffman Estates-based Sears Holdings Corp. Get the full story »
Sears' flagship store on State Street in Chicago. (PRNewsFoto/Sears Holdings Corporation)
Sears Holdings Corp. projected fourth-quarter earnings that topped analysts’ expectations because of a lower tax rate, sending shares of the retailer higher.
However, the company also reported its domestic same-store sales declined during December due to continued weakness at its U.S. Sears stores, particularly in consumer electronics.
The retailer has struggled as it continues losing business to rivals and worries remain that consumers are keeping a tight grip on their wallets amid economic uncertainty and high unemployment. Get the full story »
Twenty-three Kmart stores in Illinois and three other markets are testing financial centers where shoppers can cash checks, pay bills, place money orders and transfer money.
“We’re looking at how to better utilize the real estate in our stores and to better serve our customers,” Kmart spokeswoman Shannelle Armstrong said.
Kmart’s pilot financial centers are staffed by company employees, she said. But Armstrong declined to comment on whether a bigger rollout is planned, or what the retailer has learned so far from its test. Get the full story »
Sears Holdings Corp. expects its fourth-quarter and full-year adjusted earnings to top Wall Street’s expectations.
The results would be welcomed at the struggling retailer, which saw its third-quarter loss nearly double in part because of weak appliance and clothing sales at its namesake stores. Its shares rose $3.40, or 4.8 percent, to $74 in pre-market trading. Get the full story »
Supervalu Inc. has agreed to pay $3.2 million to 110 workers to resolve allegations it systematically terminated disabled employees at Chicago-area supermarkets, one of the largest such settlements under the Americans With Disabilities Act. Get the full story »
Sears Holdings Corp. and Urban Outfitters Inc. are examining the financial books of J. Crew Group Inc. in consideration of possible bids for the clothing retailer, a source familiar with the situation said Wednesday.
J. Crew, which also operates a website and catalog, has already agreed to be acquired by TPG Capital LP and Leonard Green & Partners LP for $2.86 billion. It can solicit other bids until Jan. 15.
Neither Sears nor Urban Outfitters has indicated whether it would submit a bid to compete with TPG and Leonard Green’s $43.50 per share offer, the source said. Get the full story »
Sears said Tuesday morning that it will honor gift cards involved in a computer glitch Sunday night if they have been activated, but had canceled those that were not processed.
On Sunday night, Sears customers got a delayed Christmas present: 50 percent off online gift cards.
New York Times News Service | This holiday season, Sears and Kmart, which merged in 2005, are pushing a single message: Buy with layaway, buy with coupons, buy now and pay later, buy with loyalty rewards points — but please, just buy.
Five years after the merger, Sears Holdings is beleaguered, with sales markedly worse than its competitors’. The company’s revenue dropped more than 10 percent from 2005 through 2009, the most recent full fiscal year. In the same time period, Wal-Mart’s sales rose almost 31 percent, Target’s more than 24 percent and Macy’s about 5 percent. Sales at J.C. Penney declined by about 6 percent. Get the full story »
Sears Holdings Corp. signed a deal with retailer Work ‘N Gear to operate uniforms shops inside Sears and Kmart stores.
The shops, called Scrubology, are range from 600 to 1,500 square feet and sell uniforms for healthcare professionals including doctors, nurses, veterinarians and lab technicians. Get the full story »
Curious about what the popular clothing items were back in Sears’ 1905 catalog, or how gadgets have changed over the past century. Well, Hoffman Estates-based Sears has partnered with Ancestry.com to archive the retailer’s fall and spring season catalogs from 1896 to 1993.
Sears Holdings Corp. reported a larger quarterly loss, citing tepid sales of apparel and appliances at its namesake department stores.
The company, which also operates Kmart discount stores, said its net loss widened to $218 million, or $1.98 a share, in the third quarter ended on Oct. 30 from $127 million, or $1.09 a share, a year earlier. Sales at the company, led by hedge fund manager Edward Lampert, fell about 5 percent to $9.68 billion. Get the full story »
Legg Mason Capital Management Inc. sold its remaining position in retailer Sears Holdings Corp. during the third quarter, according to a Monday filing with the Securities and Exchange Commission, ending the ownership of erstwhile Sears believer Bill Miller. Get the full story »
