Content about Estates

April 15, 2014

Sears Holdings has named Arun Arora pany as senior VP and president, Home Services.

Hoffman Estates, Ill. -- Sears Holdings has named Arun Arora pany as senior VP and president, Home Services. In his new role with the company, Arora will be accountable for all aspects of the company's Home Services business, including in-home repair services, service contracts, carry-in repair, Sears home improvement services, parts direct, commercial sales (all Sears Holdings product categories) and Sears franchise businesses.

February 10, 2014

Sears has debuted In-Vehicle Pickup, a new service powered by the chain’s Shop Your Way mobile app that enables customers to pick up their online purchases at any Sears store within five minutes of arrival, without ever leaving the car.

Hoffman Estates, Ill. -- Sears has debuted In-Vehicle Pickup, a new service powered by the chain’s Shop Your Way mobile app that enables customers to pick up their online purchases at any Sears store within five minutes of arrival, without ever leaving the car.

December 6, 2013

In a not-so-unexpected move, Sears Holdings Corp. on Friday said it had filed to spin off its Lands' End unit.

Hoffman Estates, Ill. — In a not-so-unexpected move, Sears Holdings Corp. on Friday said it had filed to spin off its Lands' End unit.

Sears has been selling or spinning off assets during the past few years as it struggles to turn around its business. The company sold its Orchard Supply Hardware Stores and its Sears Hometown and Outlet Stores businesses last year. In October, Sears said it would consider strategic alternatives for its line of auto centers. Sears also is selling some store leases in Canada.

August 22, 2013

Sears Holdings’ second-quarter loss widened as the company was challenged with store closings, weak sales and deep discounts.

Hoffman Estates, Ill. -- Sears Holdings’ second-quarter loss widened as the company was challenged with store closings, weak sales and deep discounts. Its performance was also impacted by the lingering effects from its spinoff of its Hometown and Outlet Stores banner.

For the period ended Aug. 3, Sears lost $194 million, compared with a loss of $132 million in the year-ago period.

Revenue dropped 6% to $8.87 billion, from $9.47 billion. Same-store sales fell 1.5%, with a 2.1% drop at Kmart and a 0.8% drop at Sears.

June 28, 2013

Sears Holdings on Friday joined the growing list of retailers and other companies severing ties with Southern celebrity chef Paula Deen in the wake of the controversy regarding her use of a racial slur. Both Sears and Kmart sold Paula Deen products.

Hoffman Estates, Ill. - Sears Holdings on Friday joined the growing list of retailers and other companies severing ties with Southern celebrity chef Paula Deen in the wake of the controversy regarding her use of a racial slur. Both Sears and Kmart sold Paula Deen products.

“After careful consideration of all available information, we have made the decision to phase out all products tied to the brand,” Sears said in a statement. “We will continue to evaluate the situation. Our members’ needs will be given first priority.’

May 9, 2013

Sears Holdings announced that Jeff Balagna will join the company as executive VP and CIO.

Hoffman Estates, Ill. -- Sears Holdings announced that Jeff Balagna will join the company as executive VP and CIO. In his new role, Balagna who most recently served as CIO at Eli Lilly, will be responsible for all technology and infrastructure initiatives for the company in its support centers and in-store.
   

February 28, 2013

Sears Holding Corp. said its net loss for the quarter ended on Feb. 2 narrowed to $489 million from $2.4 billion a year earlier.

Hoffman Estates, Ill. -- Sears Holding Corp. said its net loss for the quarter ended on Feb. 2 narrowed to $489 million from $2.4 billion a year earlier. Total costs dropped 2.2% to $12.88 billion in the fourth quarter.

Revenue declined 1.8% to $12.26 billion, but beat analysts' average estimate of $11.77 billion.

Sears results came weeks after the company’s chairman and largest shareholder, Edward Lampert, took the reins as CEO in the wake of the departure of Louis D'Ambrosio, who resigned for a family-related health problem.

October 8, 2012

Kmart and Sears are gearing up for the holiday shopping season with the elimination of layaway service fees, a new layaway home delivery service and an enhanced in-store mobile experience.

Hoffman Estates, Ill. -- Kmart and Sears are gearing up for the holiday shopping season with the elimination of layaway service fees, a new layaway home delivery service and an enhanced in-store mobile experience.

August 13, 2012

A report released Monday by the Associated Press said that Sears Holdings Corp. would be spinning off its Hometown and Outlet stores, along with some hardware stores, into a separate, publicly traded company.

Hoffman Estates, Ill. -- A report released Monday by the Associated Press said that Sears Holdings Corp. would be spinning off its Hometown and Outlet stores, along with some hardware stores, into a separate, publicly traded company.

Earlier this year, Sears had revealed it would split the companies but had not indicated the new organization would be a separate public entity.

There are approximately 1,238 Hometown, Outlet and hardware stores. Five Hometown stores have been closed, along with eight hardware stores and one Outlet unit.

July 23, 2012

Sears Holdings Corp. said that former interim CEO Bruce Johnson will serve as president and CEO of Sears Hometown and Outlet Stores once the unit is spun off from the retailer.

Hoffman Estates, Ill. -- Sears Holdings Corp. said that former interim CEO Bruce Johnson will serve as president and CEO of Sears Hometown and Outlet Stores once the unit is spun off from the retailer.

Johnson served as interim CEO of Sears Holdings from 2008 to early 2011.
 
Last February, Sears Holdings announced it would spin off its Sears Hometown and Outlet businesses in an effort to raise an expected $400 million to $500 million.

June 1, 2012

Hoffman Estates, Ill. -- Sears Holdings announced that Sears Canada has filed a Registration Statement on Form 20-F with the U.S. SEC in connection with the company’s previously announced plan to spin-off a portion of its interest in Sears Canada.

May 30, 2012

Sears Holdings Corp. said it has launched a new online charity project designed to parlay customer opinions into charitable contributions.

Hoffman Estates, Ill. -- Sears Holdings Corp. said Wednesday it has launched a new online charity project designed to parlay customer opinions into charitable contributions.

The project, called “Love/Hate: Share Your Thoughts, Send Some Love,” allows customers to review a product in order to vote for one of four charities. The participating charities competing for the grand prize of $100,000 include the American Cancer Society, St. Jude Children’s Research Hospital, World Vision and World Wildlife Fund.

May 17, 2012

Sears Holdings Corp. reported that it generated a profit of $189 million for the quarter ended April 28, after losing $170 million in the same period last year.

Hoffman Estates, Ill. -- Sears Holdings Corp. reported Thursday that it generated a profit of $189 million for the quarter ended April 28, after losing $170 million in the same period last year. The improvement was due largely to a $233-million gain from selling off some of its stores.

March 1, 2012

Sears Holdings Corp. said Thursday that it has earned the U.S. Environmental Protection Agency Energy Star program’s highest honor: the Energy Star Corporate Commitment Award.

Hoffman Estates, Ill. -- Sears Holdings Corp. said Thursday that it has earned the U.S. Environmental Protection Agency Energy Star program’s highest honor: the Energy Star Corporate Commitment Award.

The award was given in recognition of Sears leadership in energy efficiency and commitment to continuous improvements. Sears is the fifth corporation to earn the distinction in the EPA's history, and is the first company to receive the award since 2005.

February 23, 2012

Sears Holdings Corp. reported a loss of $2.4 billion in the fourth quarter, compared with a profit of $374 million in the year-ago period.

Hoffman Estates, Ill. -- Sears Holdings Corp. reported Thursday a loss of $2.4 billion in the fourth quarter, compared with a profit of $374 million in the year-ago period. And in a move long anticipated by some analysts, the chain also announced plans to tap into its massive real estate holdings to help make up for its faltering retail performance.

Revenue for the quarter slipped 4% to $12.5 billion, from $13 billion. Same-store sales fell 4.1% during the quarter at Sears and 2.7% at Kmart.

January 12, 2012

Sears Holdings Corp. confirmed that John Goodman, its chief of apparel and home division, has resigned the company, effective immediately.

Hoffman Estates, Ill. -- Sears Holdings Corp. confirmed Thursday that John Goodman, its chief of apparel and home division, has resigned the company, effective immediately.

Goodman was hired two years ago as executive VP of apparel and home, charged with turning around the retailer’s clothing business. His departure, which Sears says happened last week, coincides with the Jan. 3 arrival of Ron Boire, the former Brookstone president and CEO, as executive VP and chief merchandising officer for Sears and Kmart brands.

December 27, 2011

Sears Holdings Corp. said it will close between 100 and 120 underperforming Sears and Kmart stores, following dismal holiday sales results for the brands.

Hoffman Estates, Ill. -- Sears Holdings Corp. said Tuesday that it will close between 100 and 120 underperforming Sears and Kmart stores, following dismal holiday sales results for the brands.

The company said it has not yet identified which stores will be shuttered, but said that the closures are part of an overall plan to shift its focus from shoring up underperformers to concentrating its efforts on stronger stores.

November 17, 2011

Sears Holdings Corp. reported that its loss widened in the third quarter on softness in its Canada division and on weaker consumer electronics sales.

Hoffman Estates, Ill. -- Sears Holdings Corp. reported Thursday that its loss widened in the third quarter on softness in its Canada division and on weaker consumer electronics sales.

The operator of Sears and Kmart recorded a loss of $421 million in the quarter ended Oct. 29, compared with a loss of $218 million a year earlier.

Revenue slipped 1% to $9.57 billion from $9.68 billion, missing the $9.63 billion expected by Wall Street, and marking the fourth straight quarter of revenue declines.

November 3, 2011

Sears and Kmart stores are debuting “mobile shopping walls” in high-traffic areas to reach customers who are traveling or on-the-go during the holiday season.

Hoffman Estates, Ill. -- Sears and Kmart stores are debuting “mobile shopping walls” in high-traffic areas to reach customers who are traveling or on-the-go during the holiday season. The walls, which feature top toys from Sears and Kmart, provide Quick Response codes for each item so that customers can make purchases directly from their smartphones, giving customers an innovative and efficient way to accomplish their holiday shopping.

October 24, 2011

Sears Holdings announced it will offer free shipping on Sears.com for orders qualified orders totaling more than $99, and on Kmart.com for orders more than $49.

Hoffman Estates, Ill. -- Sears Holdings announced it will offer free shipping on Sears.com for orders qualified orders totaling more than $99, and on Kmart.com for orders more than $49. The chain is also offering free same-day store pick-up services.

The free shipping offer will begin on Oct. 30 and run through Dec. 19.

 

October 13, 2011

Sears Holdings has begun the staged roll out of Apple iPads and Apple iPod Touch devices, starting with nearly 450 stores nationwide.

Hoffman Estates, Ill. -- Sears Holdings has begun the staged roll out of Apple iPads and Apple iPod Touch devices, starting with nearly 450 stores nationwide. The move is designed enhance the relationship between customers and associates while improving the overall in-store shopping experience, Sears said.

September 23, 2011

A Friday report by Wall Street Journal said that Sears Holdings Corp. is in an active push to lease surplus space to other retailers.

Hoffman Estates, Ill. -- A Friday report by Wall Street Journal said that Sears Holdings Corp. is in an active push to lease surplus space to other retailers. Its real estate division has listed on its website some 4,000 of its namesake and Kmart stores that have space for other merchants or retail operations to lease.

August 18, 2011

Sears Holdings Corp. reported Thursday that its losses for the second quarter widened more than expected to $146 million, compared with a loss of $39 million in the year-ago period.

Hoffman Estates, Ill. -- Sears Holdings Corp. reported Thursday that its losses for the second quarter widened more than expected to $146 million, compared with a loss of $39 million in the year-ago period.

The operator of Sears and Kmart stores cited aggressive merchandise markdowns as one reason for the poor performance. This is the second consecutive quarterly loss of the company, and its fourth in the last five quarters.

August 16, 2011

Sears Holdings Corp. said Tuesday it has named Robert A. Schriesheim as executive VP and CFO.

Hoffman Estates, Ill. -- Sears Holdings Corp. said Tuesday it has named Robert A. Schriesheim as executive VP and CFO.

Schriesheim’s position as executive VP is effective immediately, and he will begin his CFO duties on Aug. 22.

Schriesheim most recently was CFO for Hewitt Associates, leading the company's global financial and administrative roles until its merger with Aon Corp. He replaces acting CFO Bill Phelan.

August 3, 2011

Sears Holdings has announced the launch of two Latino social media channels: Facebook.com/SearsLatino and a Twitter handle @SearsLatino.

Hoffman Estates, Ill. -- Sears Holdings has announced the launch of two Latino social media channels: Facebook.com/SearsLatino and a Twitter handle @SearsLatino.