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Tag: Edward S. Lampert

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Business Management Retail Retailer Shopping

Sears Holdings announces that Bruce R. Berkowitz to step down from its board of directors

HOFFMAN ESTATES, Ill., 2017-Oct-18 — /EPR Retail News/ — Sears Holdings Corporation (NASDAQ: SHLD) today (Oct. 16, 2017) announced that Bruce R. Berkowitz has decided to step down from the company's board of directors, effective October 31, 2017. Mr. Berkowitz joined the board of Sears Holdings in February 2016. "On behalf of the board of directors and management, I…
October 18, 20170Comments

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Business Electronics Marketing Online Retailers Online Shopping Retail Retailer

Sears Holdings launches Kenmore products on Amazon.com

Agreement with Amazon.com expands the reach of the Kenmore brand Customers can now control their Kenmore Smart home appliances with Amazon Alexa Kenmore Smart air conditioners integrated with Alexa are now available on Amazon.com HOFFMAN ESTATES, Ill., 2017-Jul-21 — /EPR Retail News/ — Sears Holdings (NASDAQ: SHLD) announced today (Jul 20, 2017) the…
July 21, 20170Comments

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Business Financial Management Retail Retailer

Sears Holdings amends its existing Second Lien Credit Facility dated September 1, 2016

HOFFMAN ESTATES, Ill., 2017-Jul-10 — /EPR Retail News/ — Sears Holdings Corporation (NASDAQ: SHLD) today (July 7, 2017) announced that it has entered into an amendment to its existing Second Lien Credit Facility dated September 1, 2016.  The amended credit facility provides an uncommitted line of credit facility (the "Line of Credit Facility") under which subsidiaries…
July 10, 20170Comments

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Business Management Retail Retailer

Sears Holdings Corporation updates on its strategic restructuring program

Announces incremental actions to streamline its operations and deliver cost savings On track to achieve $1.25 billion in annualized cost savings in 2017 HOFFMAN ESTATES, Ill., 2017-Jun-14 — /EPR Retail News/ — Sears Holdings Corporation ("Holdings," "we," "us," "our," or the "Company") (NASDAQ: SHLD) today (June 13, 2017) announced important actions related to its…
June 14, 20170Comments

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Business Management Retail Retailer

Sears Holdings closes sale of the Craftsman brand to Stanley Black & Decker

Reached an agreement with the Pension Benefit Guaranty Corporation in relation to the Craftsman transaction To release its fiscal 2016 fourth quarter and full year financial results on March 9, 2017 HOFFMAN ESTATES, Ill., 2017-Mar-10 — /EPR Retail News/ — Sears Holdings Corporation ("Holdings," "we," "us," "our," or the "Company") (NASDAQ: SHLD) announced today that…
March 10, 20170Comments

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Business Financial Management Retail Retailer

Sears Holdings Corporation announces improvement in 4Q 2016 operating performance

Preliminary fourth quarter 2016 operating results represent significant year-over-year improvement Launches comprehensive restructuring to streamline operations, targeting at least $1.0 billion in annualized cost savings in 2017 Right-sizes asset-based credit facility, creating an incremental $140[1] million in liquidity Plans to reduce outstanding debt and pension obligations by at least $1.5 billion, utilizing…
February 11, 20170Comments

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Business Financial Marketing Retail Retailer

Earn more Shop Your Way points with the new Sears Mastercard

HOFFMAN ESTATES, Ill., 2017-Feb-04 — /EPR Retail News/ — Citi Retail Services and Sears Holdings announced the launch of the Sears Mastercard with Shop Your Way, available today (Feb.1, 2017). With an industry-leading 5-3-2-1 rewards offer, customers can earn rewards points on all purchases everywhere they shop. The Sears Mastercard is powered by Citi Retail…
February 4, 20170Comments

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Business Management Retail Retailer

Stanley Black & Decker to acquire Craftsman brand from Sears Holdings

Stanley Black & Decker to develop, manufacture and sell Craftsman-branded products in non-Sears Holdings channels Sears Holdings to continue sourcing and selling Craftsman-branded products in all its retail channels under perpetual license agreement Agreement consists of $525 million cash payment at closing, $250 million at end of year three, and annual payments to…
January 6, 20170Comments

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Business Financial Management Retail Retailer

Sears Holdings announces strategic actions to increase its financial flexibility and improve operating performance

HOFFMAN ESTATES, Ill., 2017-Jan-07 — /EPR Retail News/ — Sears Holdings Corporation (NASDAQ: SHLD) today (Jan. 5, 2017) announced a series of additional strategic actions to increase its financial flexibility and improve long-term operating performance. These actions will facilitate the transformation of Sears from a store-based, asset-intensive business model into a membership-focused, asset-light business model.…
January 6, 20170Comments

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Business Financial Management Retail Retailer

Sears Holdings 3Q 2016: We remain fully committed to restoring profitability to our Company

HOFFMAN ESTATES, Ill., 2016-Dec-09 — /EPR Retail News/ — Sears Holdings Corporation ("Holdings," "we," "us," "our," or the "Company")(NASDAQ: SHLD) today (Dec. 8 . 2016) announced financial results for its third quarter ended October 29, 2016. As a supplement to this announcement, a presentation, pre-recorded conference and audio webcast are available at our website http://searsholdings.com/invest. In summary, we reported…
December 9, 20160Comments

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Business Management Retail Retailer

Sears Holdings: Steven T. Mnuchin to step down from the board to embark on an important post in President-elect Trump’s administration

HOFFMAN ESTATES, 2016-Dec-05 — /EPR Retail News/ — Sears Holdings Corporation (NASDAQ: SHLD) today (Dec. 2, 2016) announced that Steven T. Mnuchin has informed the company that he has decided to step down from the company's board of directors, effective immediately. President-elect Donald J. Trump recently announced his intent to nominate Mr. Mnuchin as Secretary…
December 5, 20160Comments

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Business Marketing Retail Retail Services Retailer

Sears MasterCard holders to earn more points thru Shop Your Way program

NEW YORK and HOFFMAN ESTATES, Ill., 2016-Oct-29 — /EPR Retail News/ — Starting November 1st, more than five million current Sears MasterCard holders whose cards are linked to the Shop Your Way program will earn more Shop Your Way points at many of their favorite places. The Sears MasterCard is powered by Citi Retail Services,…
October 29, 20160Comments

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Business Financial Management Retail Retailer

Sears Holdings Q1 2016: Kmart and Sears Domestic comparable store sales decline 5.0% and 7.1% respectively

HOFFMAN ESTATES, Ill., 2016-May-31 — /EPR Retail News/ — Sears Holdings Corporation ("Holdings," "we," "us," "our," or the "Company")(NASDAQ: SHLD) today announced financial results for its first quarter ended April 30, 2016. As a supplement to this announcement, a presentation, pre-recorded conference and audio webcast are available at our website http://searsholdings.com/invest. In summary, we reported: Reported net loss attributable to…
May 31, 20160Comments

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Awards Management Online Shopping Retail Retailer

Sears Holdings announces the appointment of James P. Andrew as Chief Administrative Officer

HOFFMAN ESTATES, Ill., 2016-Mar-29 — /EPR Retail News/ — Sears Holdings (NASDAQ: SHLD) announced today that James P. Andrew has joined the company in the new role of Chief Administrative Officer. In this position he will be responsible for the company's corporate support functions, including financial planning and analysis, business finance, procurement, legal, and human resources. "Jim…
March 29, 20160Comments

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Business Management Retail Retailer

Sean Skelley appointed President Home Services at Sears Holdings Corporation

HOFFMAN ESTATES, Ill. , 2015-10-12 — /EPR Retail News/ — Sears Holdings Corporation (NASDAQ: SHLD) today announced the appointment of Sean Skelley as president, Home Services. In his new role with the company, Skelley will be accountable for all aspects of the company's Home Services business. Skelley's background includes over 20 years with Best Buy Co. Inc.,…
October 12, 20150Comments

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Business Management Retail Retailer

Girish Lakshman appointed president Fulfillment at Sears Holdings Corporation

HOFFMAN ESTATES, Ill. , 2015-9-22 — /EPR Retail News/ — Sears Holdings Corporation (NASDAQ: SHLD) today announced the appointment of Girish Lakshman as president, Fulfillment. His new role will support the company's continued efforts to enhance the member experience, flawlessly fulfill member and customers' needs and advance its integrated retail strategy. Lakshman most recently served as…
September 22, 20150Comments

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Management Retail Retailer

Sears Holdings: Tom Park appointed president Kenmore, Craftsman & DieHard business unit

HOFFMAN ESTATES, Ill. , 2015-9-16 — /EPR Retail News/ — Sears Holdings Corporation (NASDAQ: SHLD) today announced the appointment of Tom Park as president, Kenmore, Craftsman & DieHard, the company's iconic brands business unit. Park most recently served as the vice president and general manager of the Linksys division of Belkin International where he has held various…
September 16, 20150Comments

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Business Management Retail Retailer

Sears Holdings entered into a binding term sheet for a five-year agreement with Pension Benefit Guaranty Corporation (PBGC)

HOFFMAN ESTATES, Ill., 2015-9-8 — /EPR Retail News/ — Sears Holdings Corporation (the "Company") (NASDAQ: SHLD) today announced that it has been in discussions with the Pension Benefit Guaranty Corporation ("PBGC") with respect to the Company's rights offering and sale-leaseback transaction with Seritage Growth Properties, a recently formed, independent publicly traded real estate investment trust, which…
September 8, 20150Comments

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Business Management Retail Retailer

Lynn Pendergrass joins Sears Holdings as President, Hardlines

HOFFMAN ESTATES, Ill. , 2015-8-25— /EPR Retail News/ — Sears Holdings (NASDAQ: SHLD) announced today that Lynn Pendergrass joined the company in the new role of President, Hardlines. In this position, she will be responsible for working across the Kenmore, Craftsman & DieHard business unit and its hardlines partners — including Home Appliances, Lawn & Garden,…
August 25, 20150Comments

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Business Malls Management Retail Retailer

Sears Holdings appoints Joelle Maher as president and chief member officer for the Sears format HOFFMAN ESTATES, Ill.

Role critical to meeting needs of the Sears' Shop Your Way members HOFFMAN ESTATES, Ill., 2015-7-14 — /EPR Retail News/ — Sears Holdings (NASDAQ: SHLD) announced today that Joelle Maher has joined the company as president and chief member officer for the Sears format. In this role, Maher will be responsible for developing the Shop…
July 14, 20150Comments

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