Sears Owner Seeks to Opt Out of Severance Payments
Eddie Lampert had promised to pay $43 million to former workers.
Sears Takes More Steps to Shore up Finances
If the refinancing effort is not successful, the company "will consider all other options" to maximize asset value.
Sears Takes Further ‘Financial Flexibility’ Steps
The struggling retailer gets more time to pay off a $400 million loan and expects to obtain a new secured credit facility.
Sears Narrows Loss But Comp Sales Drop 15%
While store closures helped Sears cut its third-quarter loss by nearly $200 million, "the fundamental economics of the business do not add up."
Sears Swings to Profit But Sales Slide Continues
"There's no turnaround. Anybody who suggests that that's the case... is suffering from a loss of reality."
Sears Gets $500 Million Loan
The new influx in credit will help Sears stay afloat until future real estate deals provide more cash to pay down outstanding debts.
Mixed Blessings: Sears Taps New Finance Chief
Retailer is said to face “significant default risk” in the next one to two years.
Sears Posts Loss; CFO Resigns
Revenue fell 8.3% to $5.39 billion, primarily driven by a 6.1% decline in comparable store sales during the first quarter.
Sears’ Property Sales Prevent Q2 Loss
Revenues fell approximately $1.8 billion, to $6.2 billion, for the quarter ended August 1.
Store Sales Data Spark Sears Stock Slide
Sales at U.S. stores open at least a year fell 10.6% in the second quarter to date as Sears tries to execute its turnaround strategy.
Data Analytics Grows Sears Appliance-Repair Unit
The division is expecting 5% to 6% growth by eliminating 450,000 unproductive house calls.