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Nov. 10, 2014, 2:31 PM
- Sears Holdings (SHLD -5.9%) announces that its rights offerings for 40M shares of Sears Canada is oversubscribed.
- The company has already takes in $270M in proceeds and expects to gather another $110M by the end of the week.
Nov. 10, 2014, 1:48 PM| Nov. 10, 2014, 1:48 PM | 3 Comments
Nov. 7, 2014, 12:52 PM
Nov. 7, 2014, 9:14 AM
- Gainers: MITK +29%. RMTI +27%. RPRX +24%. SHLD +22%. CNET +15%. NETE +11%. PGNX +10%. ZNGA +9%. APT +9%. KING +9%. KING +9%. KGC +8%. TKMR +7%. AGIO +7%. BEBE +5%.
- Losers: SLXP -35%. MDRX -20%. CTIC -19%. ICPT -19%. UBNT -17%. ANF -13%. ANET -11%. ORBC -10%. AVNR -7%. FSLR -7%. PLNR -6%. NDLS -6%. RIG -5%. DVA -5%. NADL -5%.
Nov. 7, 2014, 7:34 AM
- Releasing preliminary Q3 results this morning, Sears Holdings (NASDAQ:SHLD) is "actively exploring" a major sale-leaseback deal for 200-300 of its stores in which they would be sold to a newly formed REIT. "The company would realize substantial proceeds from such sale, which would further enhance its liquidity."
- It's expected current owners would be issued rights to purchase stakes in the REIT.
- As for operations, domestic adjusted EBITDA is expected to be a loss of $275M-$325M, similar to a year ago, but a sizable improvement from Q's 1 and 2. "We believe this change in trend is a positive development that we currently expect to continue into the fourth quarter."
- Comp store sales fell just 0.1% (up 0.5% at Kmart, down 0.7% at Sears domestic).
- SEC Form 8-K
- Shares +16.3% premarket
Nov. 3, 2014, 3:32 PM
- Internet companies are taking space from mall retailers in more ways than one.
- As online sales continue to account for a higher percentage of total retail sales every year, in an ironical trend, data centers and server farms are settling into the abandoned mall space left behind as brick-and-mortar shops trim their square footage.
- Sears Holdings (SHLD -5.1%), J.C. Penney (JCP -0.9%), and Target (TGT -0.4%) are on the list of retain chains which have seen their clothing racks replaced by servers.
Nov. 3, 2014, 11:41 AM
- Sears Holdings (SHLD -2.4%) announces that K-Mart stores will open at 6:00 a.m. on Thanksgiving Day and stay open for a 42-hour shopping marathon.
- Sears storez will open at 6:00 p.m. and also stay open all night in advance of Black Friday.
- The department store chains will also provide free shipping on online orders of over $59 during the holiday period.
- Target set the bar low in the sector by offering free shipping on all orders placed between October 22 and December 20.
Nov. 3, 2014, 9:29 AM
Nov. 3, 2014, 9:13 AM
Oct. 31, 2014, 1:21 PM
- The odds aren't good for a national roll-out of smartphone payments solution CurrentC, according to USA Today's Jeff Graham.
- The retail consortium admitted to a hacking incident earlier this week and has lost momentum with Apple Pay dominating headlines.
- Inside the network, Meijer broke ranks with fellow MCX members by moving to accept Apple Pay with its hardware.
- CurrentC was created to help the retail industry bypass credit card fees.
- Partial list of MCX members: LUV, GPS, DNKN, KR, TGT, WMT, BBBY, KSS, SHLD, WEN, BBY.
Oct. 24, 2014, 10:43 AM| Oct. 24, 2014, 10:43 AM | 5 Comments
Oct. 23, 2014, 1:18 PM
- Sears Holdings (NASDAQ:SHLD) disputes the list of store closings that SA contributor Mitch Nolen deduced from culling individual liquidation sale notices sent to local media outlets.
- A spokesperson didn't offer a specific number of store closings for the retail chain, saying an official store count will be included when Q3 results are posted in November.
- Shares of Sears are up over 4.6% on the day.
Oct. 23, 2014, 9:38 AM
- Sears Holdings (NASDAQ:SHLD) will close 46 Kmart stores, 30 Sears outlets, and 31 Sears Auto Centers, according to liquidation notices dug up by SA contributor Mitch Nolen.
- The action would mean the loss of close to 5,457 jobs, with a bulk of those in Indiana, Michigan, and Pennsylvania.
- SHLD +1.0% in early action.
Oct. 20, 2014, 12:50 PM
Oct. 20, 2014, 11:21 AM
- Retail chain Primark will enter the U.S. through space it leases out from Sears Holdings (SHLD +9.2%).
- The budget clothing seller will share space with Sears at six locations and rub shoulders with Dick's Sporting Goods at the seventh.
- Primark is owned by Associated British Foods (OTCPK:ASBFF, OTCPK:ASBFY).
Oct. 20, 2014, 7:02 AM
- Sears Holdings (NASDAQ:SHLD) says it board approved a plan to offer $625M in debt and stock warrants.
- The company says the warrants will be exercisable for five years following the offering.
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