Sears Holdings CorporationNASDAQ
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  • Fri, Oct. 14, 9:05 AM
    • Retail sales increased 2.7% Y/Y and 0.6% M/M in September on broad gains across categories. The sales totals for August were also nudged slightly higher.
    • Sales from nonstore retailers like Amazon (NASDAQ:AMZN) were up 10.6% Y/Y to once again account for a higher percentage of overall sales.
    • The building material & garden equipment category showed a 1.4% M/M and 5.6% Y/Y gain which bodes well for Home Depot (NYSE:HD) and Lowe's (NYSE:LOW).
    • Department stores (DDS, SHLD, JCP, M, JWN) lagged again as sales fell 0.7% M/M and 6.4% Y/Y, while furniture and home furnishing stores (HVT, WSM, KIRK, RH, BBBY) outpaced the broad averages in the sector.
    • Restaurant sales (NASDAQ:BITE) showed a nice jump from August, although the breakdown between large publicly-traded chains and independent restaurants isn't broken down.
    • The early take from retail analysts is that the overall tone from the report is ever-so-slightly positive for Wal-Mart (NYSE:WMT) and Target (NYSE:TGT).
    • Previously: Retail sales track higher as expected (Oct. 14)
    | Fri, Oct. 14, 9:05 AM | 39 Comments
  • Fri, Oct. 14, 6:47 AM
    • Sears Holdings (NASDAQ:SHLD) appoints Jason Hollar to the chief financial officer position, effective immediately. Hollar has been serving at Sears as a senior VP in finance.
    • The company announced last May that Robert Schriesheim would be departing from his CFO position with the company.
    • Source: Press Release
    | Fri, Oct. 14, 6:47 AM | 5 Comments
  • Wed, Oct. 12, 7:25 AM
    | Wed, Oct. 12, 7:25 AM | 22 Comments
  • Fri, Oct. 7, 1:44 PM
    • Sears Holdings (NASDAQ:SHLD) is lower as the excitement over a potential sale of the Craftsman brand fizzles out.
    • The math doesn't quite add up on Sears in a conventional way with Craftsman rumored to be valued at $2B and the current market cap of the company only at $1.17B.
    • It's also getting difficult for investors to ignore the question of bankruptcy. A couple of weeks ago Sears ended up on a list put together by Fitch Rating of retailers that could face a bankruptcy
    • "Brand degradation and competitive pressures to either price or experience can be real threats to the survival of struggling retailers," stated Fitch director Sharon Bonelli in a general way.
    • Naturally that contrasts with what  Sears CEO Eddie Lampert wrote in a blog post a few days ago.
    • "While the retail environment generally has been challenging and we won’t be able to restore profit immediately, we are focused on executing our plan and establishing a foundation from which Sears Holdings can grow for years to come."
    • SHLD -3.85% to $11.49.
    | Fri, Oct. 7, 1:44 PM | 38 Comments
  • Wed, Oct. 5, 9:42 AM
    • Sears Holdings (NASDAQ:SHLD) opens with a tidy 0.90% gain to follow on yesterday's rally fueled by reports of a Craftsman sale.
    • Investors are keeping a close eye on Sears for news of asset sales.
    • The company also has the Kenmore and DieHard brands to shop around to interested parties.
    • Despite some talk about pulling the plug on Kmart, CEO Eddie Lampert was pretty insistent in a blog post that Sears still sees upside for the chain.
    • "I can tell you that there are no plans and there have never been any plans to close the Kmart format. In fact, we’ve been working hard to make Kmart a more fun, engaging place to shop, powered by our integrated retail innovations and Shop Your Way," wrote Lampert.
    • Previously: Sears rallies with $2B Craftsman payday dangling (Oct. 4)
    | Wed, Oct. 5, 9:42 AM | 17 Comments
  • Tue, Oct. 4, 12:50 PM
    | Tue, Oct. 4, 12:50 PM
  • Tue, Oct. 4, 12:36 PM
    • Sears Holdings (NASDAQ:SHLD) could bring in as much as $2B through the sale of its Craftsman brand, sources tip Bloomberg.
    • The list of bidders reportedly includes Black & Decker, Techtronic Industries, Apex Tool Group and Swedish firm Husqvarna AB.
    • Final offers for Craftsman are expected to be in by the end of month.
    • Shares of Sears are down from session high, but are still up 12.8% on a huge volume spike.
    • Previously: Sears soars after report of Craftsman interest (Oct. 4)
    | Tue, Oct. 4, 12:36 PM | 8 Comments
  • Tue, Oct. 4, 11:36 AM
    • Shares of Sears Holdings (NASDAQ:SHLD) are up 17% on a report the company is listening to offers for its Craftsman business.
    • Interested bidders are said to include Stanley Black & Decker (NYSE:SWK) and Techtronic Industries (OTCPK:TTNDY, OTC:TTNDF).
    | Tue, Oct. 4, 11:36 AM | 23 Comments
  • Fri, Sep. 30, 12:29 PM
    • Shares of Sears Holdings (NASDAQ:SHLD) are up 9% to jump back over $12.
    • Volume on today's strong move has already flown past the daily trading average for Sears.
    • The push higher in Sears coincides (related?) with strength in companies in the business of renting, leasing, and offering up credit services. Some of those movers include Conn's (CONN +5.8%), General Finance (GFN +1.4%), Willis Lease (WLFC +3%), United Rentals (URI +2.8%), Rent-A-Center (RCII +2.5%), Essex Rental (ESSX +3.8%), Ryder (R +2.1%), and Air Lease (AL +2.2%).
    | Fri, Sep. 30, 12:29 PM | 9 Comments
  • Wed, Sep. 28, 5:57 PM
    • Sears (NASDAQ:SHLD) has "significant default risk" over the next 12-24 months due to high levels of debt and years of weak store traffic, TheStreet reports, citing a new report from Fitch Ratings.
    • Fitch notes that SHLD must repay ~$2.8B in high yield bonds and institutional term loans coming due in the next few years.
    • Earlier this month, Moody's cut its speculative-grade liquidity rating on SHLD to SGL-3 from SGL-2, reflecting the likelihood that the company will continue to need outside financing to stay in business.
    • A SHLD reorganization or liquidation could crush Seritage Growth Properties (NYSE:SRG), whose portfolio of 266 retail properties includes 170 leased to Sears and another 82 to Kmart; ~79% of SRG's rental income this year comes from Sears.
    | Wed, Sep. 28, 5:57 PM | 22 Comments
  • Tue, Sep. 20, 4:46 PM
    | Tue, Sep. 20, 4:46 PM | 40 Comments
  • Mon, Sep. 19, 2:58 PM
    • Sears Holdings (SHLD -2.1%) plans to shutter 64 more Kmart stores, sources tell The Wall Street Journal.
    • The new round of store closings means that 14% of current Kmart stores are on the chopping block.
    • More details are expected to be released on the Kmart square footage plan when Sears releases its next earnings report.
    • Shares of SHLD are down 42% YTD.
    | Mon, Sep. 19, 2:58 PM | 58 Comments
  • Fri, Sep. 16, 3:14 PM
    • Sears (SHLD -0.6%) exercised its right under its master lease to terminate 17 leases with Seritage (SRG +0.6%), with those leases accounting for 1.7M square feet and about $5.8M, or 2.8% of SRG's annual base rent.
    • Under the lease terms, once Sears vacates (January) it must pay Seritage a termination fee equal to one year of rent, CAM, and taxes. All of the 17 are Kmarts, with average rent of less than $4 per square foot, notes the team at RBC, meaning very little space has to be re-leased at better rents to recoup that $5.8M.
    • They note Seritage has been in extensive discussion with Sears, so many of the 17 were likely already slated for redevelopment. The large parking areas associated with Kmarts suggest room for both junior anchors and in-line space, along with potential for additional outparcels - in essence, says RBC, Seritage could turn a Kmart and its parking into a shopping center.
    | Fri, Sep. 16, 3:14 PM | 28 Comments
  • Tue, Aug. 30, 8:29 AM
    • Sears Holdings (NASDAQ:SHLD) announces it will introduce a Craftsman paint brand and bring back the Weatherbeater and Easy Living brands.
    • The product introductions are in response to the elevated level of home improvement projects in the U.S.
    • The new paint products will be sold in 23 stores initially before rolling out across the U.S.
    • "After stepping away from the paint business in 2012, we are seeing the demand from our customers to bring it back," says VP of Tools, Lawn and Garden Dean Schwartz.
    • Source: Press Release
    | Tue, Aug. 30, 8:29 AM | 33 Comments
  • Thu, Aug. 25, 8:59 AM
    • Sears Holdings (NASDAQ:SHLD) says it took on $300M in debt financing from the hedge fund owned by CEO Eddie Lampert.
    • The company previously disclosed that ESL Investments kicked in $125M of an initial $250M loan.
    • In another development, Sears says it has received interest from retailers and manufacturers for the Sears Home Services business and the unit that holds Kenmore, Craftsman, and DieHard.
    • Over the last five years shares of Sears have lost 74% of their value, while other large chains such as Wal-Mart (+37%), Macy's (+64%), Target (+41%), and L Brands (+112%) have adjusted their models more successfully.
    • Sears saw another drop in margin rates during Q2, despite the trimming of select stores seen as underperforming. A "challenging" retail environment was cited again.
    • Previously: Sears Holdings beats by $1.45, beats on revenue (Aug. 25)
    • Previously: More on Sears Holdings' Q2 (Aug. 25)
    • SHLD -5.44% premarket to $13.90.
    | Thu, Aug. 25, 8:59 AM | 28 Comments
  • Thu, Aug. 25, 6:22 AM
    • Sears Holdings (NASDAQ:SHLD) reports comparable-store sales fell 5.2% in Q2.
    • Kmart comp dropped 3.3% due to declines in the pharmacy, grocery & household and consumer electronics categories.
    • Sears domestic comp declined 7.7%, driven by decreases in home appliances, apparel, consumer electronics, footwear, lawn & garden and tools.
    • Segment sales: Kmart: $2.221B (-9.7%); Sears Domestic: $3.442B (-8.3%).
    • Gross margin rate slipped 90 bps to 22.2%.
    • Adjusted gross margin rate squeezed 60 bps to 21.9%.
    • SG&A expense rate improved 110 bps to 26.2%.
    • Adjusted SG&A expense rate reduced 90 bps to 25.3%.
    • Merchandise inventory -6% to $4.7B.
    • Store count -110 Y/Y to 1,592.
    | Thu, Aug. 25, 6:22 AM | 22 Comments