New York — The Anti-Defamation League’s National Consumer Technology Industry divisio
Hoffman Estates, Ill. – Sears Holdings has formed a new business unit to convert shuttered Kmart and Sears stores into data centers, disaster recovery space and cell tower bases.
According to a report by Data Center Knowledge, the new division, dubbed Ubiquity Critical Environments, will retrofit its first Sears store this summer as a multi-tenant data center on Chicago’s South Side.
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.
As you have read, Sears Holdings lost $279 million in its fiscal first quarter. It is a major loss in a string of many for the retailer that operates Sears and Kmart.
While we don’t wish this on any company, this has to beg the question: “What happens if Sears goes away?”
Hoffman Estates, Ill. — Sears Holdings returned to the red last quarter with a $279 million loss vs. year-ago profits of $189 million, and is looking to sell off its in-house extended-warranty business to boost liquidity.
Net sales for the three months, ended May 4, fell nearly 9 percent to $8.5 billion, and U.S. comp sales slid 3.6 percent.
Hoffman Estates, Ill. — Sears Holdings will launch a rent-to-own leasing program for CE, majaps, mattresses and other big-ticket items this week, and has renewed efforts to sub-lease space in and around its stores.
The rent-to-own program is managed by WhyNotLeaseIt, a national leasing service, and will be rolled out to all 900 U.S. Sears stores on Wednesday.
Hoffman Estates, Ill. — Sears Holdings has appointed Jeff Balagna executive VP and chief information officer.
Balagna joins Sears from Eli Lilly, where he held the same post. In his new role, he will be responsible for all technology and infrastructure initiatives within the company’s support centers and stores.
“Jeff is a proven executive with an analytical approach and experience in transforming complex organizations in rapidly evolving industries,” said Sears chairman/CEO Edward Lampert.
Hoffman Estates, Ill. — Sears Holdings chairman/CEO and majority shareholder Eddie Lambert reiterated his focus on multichannel retailing and the company’s Shop Your Way loyalty program at the company’s annual meeting here yesterday.
In his first shareholders address as CEO, he echoed his conviction that integrating the retailer’s online, mobile and brick-and-mortar platforms, and leveraging its membership rewards program, are key to the company’s turnaround.
Hoffman Estates, Ill. — Sears is providing its California customers with utility-sponsored instant rebates on high-efficiency appliances through a partnership with EcoRebates.
Online shoppers can receive an average of $50 in instant rebate savings on Energy Star-qualified refrigerators, washers, dryers, dishwashers, A/Cs, water heaters and other large appliances.
Participating utilities include Pacific Gas and Electric (PG&E), San Diego Gas & Electric (SDG&E), Southern California Edison (SCE) and Southern California Gas (SoCalGas).
Hoffman Estates, Ill. — Sears Hometown and Outlet Stores, the new Sears Holdings spinoff, ended its first fiscal year on a high note.
Rising gross margins pushed profits up 22.2 percent to $9.7 billion for the three months, ended Feb. 2, while the inclusion of an extra selling week helped boost net sales 6.8 percent to $631.2 million. Excluding the extra week, comp-store sales slipped 0.5 percent.
Many observers derided Sears chairman and majority shareholder Eddie Lampert’s decision to add CEO to his title last month.
Perhaps addressing naysayers who questioned his merchandising depth, Lampert offered his take on the state of retail in his annual open letter to shareholders, employees and customers, which accompanied today’s improved full-year earnings results.
Hoffman Estates, Ill. – Sears staunched its sales and earnings free fall last year, although CE weighed heavily on its results.
Net loss for the fourth quarter ended Feb. 2 was $489 million, compared to a year-ago loss of $2.4 billion, and net loss for the full fiscal year was $626 million, compared to $3.1 billion in 2011.
Sales declines also eased, slipping just 1.6 percent to $12.3 billion for the quarter, due in part to an extra sales week in the reporting period.