Content about Sears Holdings Corporation

May 22, 2013

Sears Canada reported a net loss in its first quarter of C$31.2 million ($30.3 million) compared with a net profit of C$93.1 million, a year earlier amid weakened demand for major appliances and home products.

New York -- Sears Canada reported a net loss in its first quarter of C$31.2 million ($30.3 million) compared with a net profit of C$93.1 million, a year earlier amid weakened demand for major appliances and home products.

Revenue fell more than 6% to C$867.1 million. Same-store sales fell 2.6%.

The company also named E.J. Bird as CFO. Bird was appointed interim CFO in March, two months after Sharon Driscoll resigned from the post.

 

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.
   

April 1, 2013

An SEC filing revealed that Sears Holdings Corp. former CEO Louis D’Ambrosio, who stepped down in February citing family health issues, saw his total compensation package shrink nearly 90% from the prior year.

Hoffman Estates, Ill. -- An SEC filing on Thursday revealed that Sears Holdings Corp. former CEO Louis D’Ambrosio, who stepped down in February citing family health issues, saw his total compensation package shrink nearly 90% from the prior year.

According to the proxy statement filed with the Securities and Exchange Commission, Sears said D’Ambrosio's salary rose to $1 million in 2012 from $930,769 in 2011. However, the value of his perks, such as corporate housing and travel, shrank to $278,741 from $852,037 in 2011.
 

March 29, 2013

Sears Hometown and Outlet Stores said it has elected James F. Gooch to its board of directors and as chair of the audit committee.

Hoffman Estates, Ill. -- Sears Hometown and Outlet Stores said Thursday it has elected James F. Gooch to its board of directors and as chair of the audit committee.

Gooch had served as president and CEO, as well as CFO, of RadioShack Corp.
 

March 21, 2013

Eddie Lampert, chairman of Sears Holding Corp., has signed a contract to remain as CEO of the retail company at a salary of $1 per year, the Associated Press reported.

New York -- Eddie Lampert, chairman of Sears Holding Corp., has signed a contract to remain as CEO of the retail company at a salary of $1 per year, the Associated Press reported. Sears announced in January that Lampert would take over as CEO after Louis J. D'Ambrosio stepped down due to family health issues.
    
Lampert’s new contract is effective Feb. 1, according to a regulatory filing yesterday. Lampert also has the opportunity for a bonus of up to $2 million in cash or stock and up to $4.5 million in stock per year.

March 15, 2013

Is it just me, or does it seem like the past two months or so have seen an unusually high level of turnover at the top? It's gotten so that you need a scorecard to keep up with all the comings and goings, as chief executives are forced out, jump ship, retire or move on.

This year's changing of the guard is bittersweet because it includes the retirement of two veteran retailers, Steve Burd of Safeway and Maxine Clark of Build-A-Bear Workshop.

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.

February 27, 2013

Sears Canada Inc. reported that profit for the fourth quarter dipped 3% to $38.8 million on weakened hardware and electronics sales.

Toronto -- Sears Canada Inc. reported Wednesday that profit for the fourth quarter dipped 3% to $38.8 million on weakened hardware and electronics sales.

Revenue fell 5% to$1.25 billion in the period, and same-store sales dropped 3.8%.

Parent Sears Holdings Corp., which cut its stake in Sears Canada from 90% to 51% last year, said in January that Sears Canada's fourth quarter adjusted earnings would fall by about half.

 

February 1, 2013

Sears Canada is letting go of 700 workers as part of a plan to "right-size" the operation.

New York -- Sears Canada is letting go of 700 workers as part of a plan to "right-size" the operation.

The lay-offs will include 360 department store associates and about 300 distribution center workers, as well as some head office personnel.

Sears Canada, majority-owned by Sears Holdings Corp., has falling sales. It is also facing major competition by Wal-Mart Stores and Target, which is set to make its Canadian debut this spring.

 

January 29, 2013

ECOtality said that it has expanded its current relationship with Sears Holdings Corp. by unveiling the Blink Direct Current Fast Charger stations at Sears stores in Tennessee and Arizona.

San Francisco -- ECOtality said Tuesday that it has expanded its current relationship with Sears Holdings Corp. by unveiling the Blink Direct Current Fast Charger stations at Sears stores in Tennessee and Arizona.

The stations enable Sears customers to charge an electric vehicle battery up to 80% capacity in less than 30 minutes.

January 8, 2013

In a surprise move, Sears Holdings Corp. announced that CEO Louis J. D'Ambrosio will step down as CEO, effective Feb. 2, for family health reasons.

New York -- In a surprise move, Sears Holdings Corp. announced that CEO Louis J. D'Ambrosio will step down as CEO, effective Feb. 2, for family health reasons. D'Ambrosio will be replaced by the company's chairman and its largest shareholder, Edward Lampert.

January 7, 2013

The Wet Seal has named John D. Goodman to serve as its new CEO, with his appointment effective Jan. 7.

Foothill Ranch, Calif. -- The Wet Seal has named John D. Goodman to serve as its new CEO, with his appointment effective Jan. 7. He replaces former CEO Susan McGalla, who was fired by the company in July 2012 amid sliding sales.

December 27, 2012

When it comes to mobile commerce and digital solutions, Sears Holdings has evolved into a best-in-class company, one that has truly embraced the cross-channel shopping experience. Seeking ways to make shopping more convenient for its customers, the chain was among the first to offer visibility to in-store inventory, as well as the ability to buy online and pick up in-store.

November 16, 2012

Sears Canada Inc. announced that Douglas C. Campbell has been promoted to executive VP and COO, effective immediately.

Toronto -- Sears Canada Inc. announced Friday that Douglas C. Campbell has been promoted to executive VP and COO, effective immediately.

Campbell will oversee retail operations, logistics, replenishment, information technology and international sourcing, and lead the company's undertaking to improve efficiency across the enterprise.

Campbell was most recently executive VP, home and hardlines, for the chain.

 

November 13, 2012

Sears Canada Inc. reported a loss of $21.85 million, compared with a loss of $44 million in the same period last year.

Toronto -- Sears Canada Inc. reported Tuesday a loss of $21.85 million, compared with a loss of $44 million in the same period last year.

Revenue dropped 6.8% to $1.04 billion, and same-store sales slid 5.7%.

 

November 2, 2012

Sears Canada said it has unveiled four refreshed store concepts in Ontario, and Quebec, each featuring additional brands and product displays.

Toronto -- Sears Canada said Friday it has unveiled four refreshed store concepts in Ontario, and Quebec, each featuring additional brands and product displays.

The Kitchen Shop now features small appliances organized by type and major appliances are displayed in gallery settings. A number of departments, including mattresses and footwear, have deepened product offerings and enhanced the merchandising of the lines.

November 2, 2012

Sears Holdings Corp. said it has named Ryan Vero senior VP and president, Grocery, Drug and Pharmacy.

Hoffman Estates, Ill. -- Sears Holdings Corp. said Friday it has named Ryan Vero senior VP and president, Grocery, Drug and Pharmacy.

Vero most recently served as the executive VP and chief merchandising/marketing officer for OfficeMax. He spend 17 years with the office supply retailer and was most recently responsible for merchandising, marketing, new channels, and e-commerce business, in addition to global sourcing, private brands, product development and pricing.
 

November 1, 2012

Sears Holdings announced that both Sears and Kmart stores will be open on Thanksgiving Day.

Hoffman Estates, Ill. -- Sears Holdings announced that both Sears and Kmart stores will be open on Thanksgiving Day. The company said its made the decision based in part on feedback from members of its Shop Your Way loyalty program, who sought more flexible Black Friday in-store shopping times and eagerness to shop doorbuster deals.

October 30, 2012

Sears Canada said Tuesday it has debuted a permanent shoppable iPad application for its Wish Book catalog after a temporary launch for the 2011 holiday shopping season.

Toronto -- Sears Canada said Tuesday it has debuted a permanent shoppable iPad application for its Wish Book catalog after a temporary launch for the 2011 holiday shopping season.

The app will contain various content throughout any given year, the first of which appears Tuesday in the form of the 60th anniversary Wish Book.

October 12, 2012

Sears Hometown and Outlet Stores Inc. is set to begin trading on the Nasdaq Capital Market after Sears Holdings Corp. completed a spin-off transaction of the home appliances, hardware, tools and garden equipment retailer.

New York -- Sears Hometown and Outlet Stores Inc. is set to begin trading on the Nasdaq Capital Market on Friday after Sears Holdings Corp. completed a spin-off transaction of the home appliances, hardware, tools and garden equipment retailer.

Sears Holdings received $446.5 million in proceeds in the transaction, including a $100 million dividend paid by Sears Hometown prior to the separation and about $347 million from a rights offering.

 

October 11, 2012

Sears Holdings received a SmartWay Excellence Award from the U.S. Environmental Protection Agency for being an industryleader in freight supply chain environmental performance and energy efficiency.

Hoffman Estates, Ill. -- Sears Holdings received a SmartWay  Excellence Award from the U.S. Environmental Protection Agency for being an industryleader in freight supply chain environmental performance and energy efficiency.

In addition, 100% of Sears Holdings more than 20+ freight carriers are SmartWay program partners as well.

October 9, 2012

Sears Holdings Corp., which in February announced it would spin off its Hometown and Outlet businesses as a separate publicly traded entity, said it expects to receive about $446.5 million in gross proceeds from an offering tied to the spinoffs.

Hoffman Estates, Ill. -- Sears Holdings Corp., which in February announced it would spin off its Hometown and Outlet businesses as a separate publicly traded entity, said Tuesday it expects to receive about $446.5 million in gross proceeds from an offering tied to the spinoffs.

The offering of rights to purchase shares of the spinoff debuted on the Nasdaq under the "SHOSR" ticker symbol in September. According to Sears, the rights offering expired on Monday; preliminary results show that more than 95% of the options were exercised.

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.

October 3, 2012

Sears Holdings Corp. said Wednesday that its namesake and Kmart stores will offer ship-to-home delivery for items purchased through online layaway.

Hoffman Estates, Ill. -- Sears Holdings Corp. said Wednesday that its namesake and Kmart stores will offer ship-to-home delivery for items purchased through online layaway.

The new service, which comes at a time when many major retailers are amping up shopper-centric programs for the holiday selling season, is also available on store kiosks, said Sears, enabling customers to bypass the layaway line and select, purchase and have items delivered directly to their homes.

Both retailers will launch the service on Nov. 7.

 

September 28, 2012

Sears Holdings Corp. strengthened its environmental commitment with the rollout of 27 new Roush CleanTech Ford E-250 cargo vans fueled by propane autogas, to be deployed in the Sears Home Services fleet in Seattle for in-home service and repair visits.

Seattle -- Sears Holdings Corp. strengthened its environmental commitment with the rollout of 27 new Roush CleanTech Ford E-250 cargo vans fueled by propane autogas, to be deployed in the Sears Home Services fleet in Seattle for in-home service and repair visits.