Sears' Kmart on Friday responded to reports that the fifth-largest U.S. toymaker has suspended shipments to its stores ahead of the critical holiday season.
Sears said it was exploring partnerships or other deals for its Kenmore, Craftsman and DieHard unit and its Sears Home Services business.
May 26- Sears Holdings Corp reported a bigger net loss as sales fell and said it was exploring potential partnerships or other deals for its unit that houses the Kenmore, Craftsman and DieHard brands and its Sears Home Services business. Sears, controlled by CEO Eddie Lampert, has lost more than $8 billion over the last five years. Net loss attributable to Sears'...
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.