April 8- Sears Holdings Corp said it had obtained a $500 million loan as the retailer looks to boost its cash reserves to fund a transformation and reduce the number of company-owned stores. Sears said $250 million of the 15- month loan was funded on Friday with the remainder being accessible in the future. Lampert's ESL Investments Inc provided $125 million of...
March 28- Sears Holdings Corp Chief Executive Eddie Lampert has acquired a portion of the company's new $750 million loan in his latest bet on the parent of Sears department stores and Kmart discount shops, people familiar with the matter said. The loan helps Sears pay down some of its older debt at a time when shoppers are moving away from malls in favor of...
Feb 25- Sears Holdings Corp appointed its largest outside investor Bruce Berkowitz to the board on Thursday after he signaled he wanted to play a more active role in trying to turn the loss-making retailer around. Sears said Berkowitz, head of investment fund Fairholme Capital Management, and Alesia Haas, until recently chief financial officer of OneWest Bank,...
Feb 25- Sears Holdings Corp has found it harder to compete, in part because of moves to increase the minimum wage and different tax rules for online retailers like Amazon.com Inc, Chief Executive Officer Eddie Lampert said on Thursday. In an annual letter to shareholders, Lampert described a U.S. operating environment stacked in some ways against traditional...
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.
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.