New York — The Anti-Defamation League’s National Consumer Technology Industry divisio
Hoffman Estates, Ill. – Sales declines and continued investments in its digital shopping platform led to a $534 million third-quarter loss for Sears Holdings.
The red ink increased from a $498 million loss in the year-ago period.
Revenues fell 7 percent to $8.3 billion for the three months ended Nov. 2, and U.S. comp store sales declined 3.1 percent on weakness in CE, major appliances and other core categories.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.
Hoffman Estates, Ill. — Sears and Kmart will continue their tradition of opening their stores on Thanksgiving Day.
Kmart, which has done so for the past 22 years, will open its doors at 6 a.m. on turkey day, and will remain open for the next 41 hours, through 11 p.m. Black Friday evening.
Sister chain Sears will open for the third consecutive Thanksgiving, beginning at 8 p.m., and will continue to operate through 10 p.m. Black Friday night.
Hoffman Estates, Ill. – Sears Home Appliance Showrooms, a specialty chain that was spun off from Sears Holdings last year, is three months into a store remodeling program.
Hoffman Estates, Ill. — Sears Holdings has borrowed $1 billion under a new loan facility.
The loan extends an existing credit agreement that provides nearly $3.3 billion in revolving credit.
Sears said it will use the new loan to pay down $1 billion in borrowings under the revolving credit facility.
Hoffman Estates, Ill. – Sears Holdings said store closings, sales declines and promotional costs contributed to a steeper loss in the second quarter.
The company also reported comp sale declines for its core major appliance business at Sears, and lower CE comps at Kmart.
The net loss widened to $194 million for the three months ended Aug. 3, compared to a loss of $132 million for the year-ago quarter, while total revenues decreased 6.3 percent to $8.9 billion.
Hoffman Estates, Ill. – Sears Hometown Stores will mark the 20th anniversary of the folding of the fabled Sears catalog with a special weekend promotion this month.
Hometown, a specialty chain spinoff of Sears Holdings, was born out of the “Big Book’s” closing in 1993, when Sears also pulled the plug on some 2,000 catalog stores. The company allowed 122 independent owners to continue representing Sears under the Hometown badge, which has since grown to more than 900 dealer store locations.
Updated! Hoffman Estates, Ill. - Sears Hometown & Outlet Stores, the smaller-format specialty chain spun off last year by Sears Holdings, said it has opened its first three franchised Outlet stores and is looking to sell additional locations across the country.
The company later retracted its announcement without explanation.
Hoffman Estates, Ill. — Sears Hometown and Outlet Stores posted disappointing first-quarter results following a promising first-year showing.
Net income for the three months, ended May 4, fell 27 percent to $15 million, net sales slipped 3.2 percent to $601.1 million, and comp sales declined 5 percent year over year.
Hoffman Estates, Ill. — Sears Holdings heralded its marketing tie-in with the forthcoming movie “Man of Steel” by hosting the largest ever gathering of people dressed as Superman.
The event, held here earlier this week, drew 566 costumed employees, earning Sears a Guinness World Record.
The retailer’s marketing pact with Warner Bros. Pictures includes a free Superman comic book, a sneak peek at film footage and a “Man of Steel” sweepstakes, which are all exclusive to members of Sears’ “Shop Your Way” loyalty program.