Dec 3- Canadian department store operator Sears Canada Inc said its same-store sales rose 0.4 percent in the third quarter- the first rise in two years- helped by higher sales of major appliances, furniture and mattresses. Toronto- based Sears Canada said on Thursday it was aiming for additional cost savings of C $30 million- C $40 million on an annualized basis in...
The company, whose largest shareholder is Sears Holdings Corp Chief Executive Eddie Lampert and his hedge fund, said its net loss narrowed to C $53.2 million, or 52 Canadian cents per share, in the quarter ended Oct. 31 from C $118.7 million, or C $1.16 per share, a year earlier.
The retailer started sounding the blue sirens used to flag the surprise, 15- minute long deals to shoppers at its 942 stores on Friday, and will kick-off a marketing campaign to highlight the move with a TV ad on "Sunday Night Football" on NBC. "It's part of our DNA," said Kmart President Alasdair James, a former executive at British retailer Tesco PLC who joined the...
Charlie Harary, co-founder of H3 & Co., outlined the worst CEO mistakes that "butted up against" societal trends in 2014.
Sears reported a quarterly net loss of $548 million, and the retailer said it had nearly doubled its planned store closures to cut costs.
Sears' deepening financial troubles have forced insurers and banks to raise the cost of guaranteeing payment to vendors, rattling its vendors even more.
Target CEO Gregg Steinhafel's name has been added to the list of retail execs caught in a nasty game of musical chairs.
Sears Holdings said Friday that it will spin off its Lands' End clothing business as a separate company by distributing stock to the retailer's shareholders.
The department-store chain saw its loss more than quadruple — a big miss compared to what analysts had expected. Revenue, however, beat. Shares fell sharply after-hours.
Several hedge fund leaders who had giant paydays last year earned their riches the old-fashioned way: by posting big returns on their investments. The New York Times reports.
Best Buy's decision to close 50 of its U.S. stores and focus on its Geek Squad service company through 100 small mobile locations in fiscal 2013 is the latest example of how the "big box" is struggling against digital competition.
"Risk is coming back into the markets," Eddie Lampert told CNBC. "People are willing to put their money at risk. They want a return on their money rather than just a return of their money. "
Influential investors Eddie Lampert and David Bonderman share their thoughts on the U.S. economy and markets, in this excerpt from a Squawk Box appearance honoring dealmaker Richard Rainwater.
The knee-jerk reaction is that hiring a non-merchant after a three-year search is just another shake-your-head moment in the recent history of Sears.