HOFFMAN ESTATES, Ill. — Sears Holdings Corp. posted another quarterly loss on Thursday and said it would receive another financial lifeline from the hedge fund of its chief executive officer, Eddie Lampert. Lampert’s fund, ESL Investments, offered to provide a $300 million loan to Sears earlier this month to provide the struggling retailer more time
HOFFMAN ESTATES, Ill. — Sears Holdings Corp., the corporate parent of Sears and Kmart stores, plans to shutter 68 Kmart stores and 10 Sears stores this summer in an effort to stem financial losses. Most of the stores will be closed by late July. “The decision to close stores is a difficult but necessary step
HOFFMAN ESTATES, Ill. — Sears Holdings Corp., the corporate parent of Sears and Kmart stores, announced that it will close 78 stores this summer in its ongoing quest to stem financial losses. The company plans to close 68 Kmart stores and 10 Sears stores, with most closures occurring by late July, Sears said on Thursday.
HOFFMAN ESTATES, Ill. — Sears Holdings Corp. announced on Monday that James Andrew has joined the company in the new role of chief administrative officer. He will lead the company’s corporate support functions, including financial planning and analysis, business finance, legal, procurement, and human resources, the company noted in a press release. “Jim is a proven executive with
MIAMI — Bruce Berkowitz’s Fairholme Capital Management, the largest outside shareholder of Sears Holdings Corp., disclosed in a December filing that it has bought an additional 390,100 shares of Sears stock since Christmas Eve. Fairholme now owns a 26.02% stake Sears Holdings, with 27,763,748 total shares. The only other shareholder with a bigger stake in
HOFFMAN ESTATES, Ill. – Sears Holdings Corp. reported a narrower quarterly loss this month on fewer onetime expenses, but sales sank 20%, depressed by store closings and soft clothing and consumer electronics volume. The company posted a net loss of $454 million for its third quarter ended October 31, down from $548 million a year