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By Andrew Leckey and Andrew Leckey,Tribune Media Services | July 8, 2007
I would like your opinion of my shares of Sears Holdings Corp. I'm not sure about its future. - C.L., via the Internet The famed retailer, with about 3,900 full-line and specialty stores in the United States and Canada, has a shopping list of concerns that include the economy. High energy costs, a weak housing market, the need to upgrade stores and strong competition from narrowly focused retailers have all contributed to sales declines last year and this year. Meanwhile, it has made some improvement in profit margins and inventory in portions of its business.
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NEWS
By Jim Joyner | April 22, 2013
A half-empty former shopping mall in Eldersburg will be remade as a Walmart-anchored plaza under plans announced Monday by owner Black Oak Associates. In a move long awaited by many in the community, the Owings Mills-based developer will spend $50 million to renovate Carrolltown Center into Eldersburg Commons, with new restaurants and home, fashion and beauty retailers. For a decade, Carrolltown Center has been a community sore spot. The interior of the small community mall was closed in 2005, and the property languished with a diminishing roster of tenants and an abandoned movie theater.
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BUSINESS
By Becky Yerak and Becky Yerak,CHICAGO TRIBUNE | June 8, 2005
CHICAGO - Giving its first glimpse into its financial performance, the recently formed Sears Holdings Corp. disappointed investors yesterday with a first-quarter loss amid declining sales. The company formed by the March merger of Sears, Roebuck and Co. and Kmart Holding Corp. lost $9 million, or 7 cents a share, in the fiscal quarter that ended April 30. The company also disclosed that it laid off 850 workers during the quarter, mostly from Sears Holdings' headquarters in Hoffman Estates, Ill. The quarter includes all 13 weeks of Kmart's results and five weeks of Sears' results.
BUSINESS
By Andrew Leckey and Andrew Leckey,Tribune Media Services | July 8, 2007
I would like your opinion of my shares of Sears Holdings Corp. I'm not sure about its future. - C.L., via the Internet The famed retailer, with about 3,900 full-line and specialty stores in the United States and Canada, has a shopping list of concerns that include the economy. High energy costs, a weak housing market, the need to upgrade stores and strong competition from narrowly focused retailers have all contributed to sales declines last year and this year. Meanwhile, it has made some improvement in profit margins and inventory in portions of its business.
BUSINESS
By Becky Yerak and Becky Yerak,CHICAGO TRIBUNE | February 22, 2005
Sears, Roebuck and Co.'s top finance executive will leave the retailer after its proposed merger with Kmart Holding Corp. is completed next month. The combined company, to be called Sears Holdings Corp., said William Crowley, 47, Kmart's senior vice president of finance, will become chief financial officer of the merged retailer. As recently as Feb. 15, Sears Roebuck CFO Glenn Richter, 42, had been identified as the new finance chief for Sears Holdings. But in a Securities and Exchange Commission filing Friday, Sears Holdings said Crowley would be CFO and that Richter would leave the company after the merger.
BUSINESS
By BECKY YERAK and BECKY YERAK,CHICAGO TRIBUNE | October 1, 2005
CHICAGO -- Some companies have dress codes, but Sears Holdings Corp. now has a bag code. Employees of the Hoffman Estates, Ill.-based owner of Sears and Kmart stores are being discouraged from bringing bags, packages or anything else with the logo of a retail competitor to any company property. The request was made this week in a letter to Sears Holdings workers from Aylwin B. Lewis, who took over the job of chief executive officer from Alan Lacy yesterday. Lewis, a fast-food industry executive until about a year ago, also asked Sears Holdings workers to visit their nearest Sears or Kmart store three or four times a month, as well as to post product suggestions on internal company Web sites.
BUSINESS
By Becky Yerak and Becky Yerak,CHICAGO TRIBUNE | September 9, 2005
CHICAGO - Billionaire hedge fund manager Edward Lampert thinks he can succeed where a host of others have failed: selling more merchandise at Sears. Lampert, who orchestrated the takeover of Sears, Roebuck and Co. in March after bringing Kmart Holding Corp. out of bankruptcy, said yesterday that he will oversee marketing, merchandising, design and online businesses at Sears Holdings and its Lands' End clothing unit. His management shake-up at the nation's third-largest retailer also included the demotion of Sears Roebuck Chief Executive Officer Alan Lacy, whose four-year tenure as Sears' leader was marked by falling sales and capped by the takeover of the venerable retailer by Kmart.
BUSINESS
By Becky Yerak and Becky Yerak,CHICAGO TRIBUNE | January 22, 2005
Shareholders of Sears, Roebuck and Co. should enjoy their quarterly dividends while they can. After the department store chain's merger with Kmart Holding Corp., which is expected to close in March, the new $55 billion retailer "does not expect to pay dividends in the foreseeable future," according to a Securities and Exchange Commission filing. Former Sears investors who become shareholders of the new Sears Holdings Corp. "instead must rely on increases in the trading price" of the merged company for any return on their investment, the filing said.
BUSINESS
By BLOOMBERG NEWS | September 1, 2005
NEW YORK - JPMorgan Chase & Co., the world's second-largest credit-card issuer, agreed yesterday to buy Sears Canada Inc.'s credit-card business for C$3.4 billion ($2.87 billion) in cash and debt. Shares of Sears Canada surged 24 percent, their biggest gain in at least 21 years. The card business at Sears Canada, the country's No. 3 department store, has about 1,000 employees, 10 million accounts and C$2.5 billion in uncollected credit-card bills, the Toronto-based company said. JPMorgan, the third-biggest U.S. bank, will pay about C$2.4 billion in cash and inherit C$1.1 billion in debt, Sears Canada spokesman Sean MacCormack said.
NEWS
By Jim Joyner | April 22, 2013
A half-empty former shopping mall in Eldersburg will be remade as a Walmart-anchored plaza under plans announced Monday by owner Black Oak Associates. In a move long awaited by many in the community, the Owings Mills-based developer will spend $50 million to renovate Carrolltown Center into Eldersburg Commons, with new restaurants and home, fashion and beauty retailers. For a decade, Carrolltown Center has been a community sore spot. The interior of the small community mall was closed in 2005, and the property languished with a diminishing roster of tenants and an abandoned movie theater.
BUSINESS
By BECKY YERAK and BECKY YERAK,CHICAGO TRIBUNE | October 1, 2005
CHICAGO -- Some companies have dress codes, but Sears Holdings Corp. now has a bag code. Employees of the Hoffman Estates, Ill.-based owner of Sears and Kmart stores are being discouraged from bringing bags, packages or anything else with the logo of a retail competitor to any company property. The request was made this week in a letter to Sears Holdings workers from Aylwin B. Lewis, who took over the job of chief executive officer from Alan Lacy yesterday. Lewis, a fast-food industry executive until about a year ago, also asked Sears Holdings workers to visit their nearest Sears or Kmart store three or four times a month, as well as to post product suggestions on internal company Web sites.
BUSINESS
By Becky Yerak and Becky Yerak,CHICAGO TRIBUNE | September 9, 2005
CHICAGO - Billionaire hedge fund manager Edward Lampert thinks he can succeed where a host of others have failed: selling more merchandise at Sears. Lampert, who orchestrated the takeover of Sears, Roebuck and Co. in March after bringing Kmart Holding Corp. out of bankruptcy, said yesterday that he will oversee marketing, merchandising, design and online businesses at Sears Holdings and its Lands' End clothing unit. His management shake-up at the nation's third-largest retailer also included the demotion of Sears Roebuck Chief Executive Officer Alan Lacy, whose four-year tenure as Sears' leader was marked by falling sales and capped by the takeover of the venerable retailer by Kmart.
BUSINESS
By BLOOMBERG NEWS | September 1, 2005
NEW YORK - JPMorgan Chase & Co., the world's second-largest credit-card issuer, agreed yesterday to buy Sears Canada Inc.'s credit-card business for C$3.4 billion ($2.87 billion) in cash and debt. Shares of Sears Canada surged 24 percent, their biggest gain in at least 21 years. The card business at Sears Canada, the country's No. 3 department store, has about 1,000 employees, 10 million accounts and C$2.5 billion in uncollected credit-card bills, the Toronto-based company said. JPMorgan, the third-biggest U.S. bank, will pay about C$2.4 billion in cash and inherit C$1.1 billion in debt, Sears Canada spokesman Sean MacCormack said.
BUSINESS
By Becky Yerak and Becky Yerak,CHICAGO TRIBUNE | June 8, 2005
CHICAGO - Giving its first glimpse into its financial performance, the recently formed Sears Holdings Corp. disappointed investors yesterday with a first-quarter loss amid declining sales. The company formed by the March merger of Sears, Roebuck and Co. and Kmart Holding Corp. lost $9 million, or 7 cents a share, in the fiscal quarter that ended April 30. The company also disclosed that it laid off 850 workers during the quarter, mostly from Sears Holdings' headquarters in Hoffman Estates, Ill. The quarter includes all 13 weeks of Kmart's results and five weeks of Sears' results.
BUSINESS
By Becky Yerak and Becky Yerak,CHICAGO TRIBUNE | February 22, 2005
Sears, Roebuck and Co.'s top finance executive will leave the retailer after its proposed merger with Kmart Holding Corp. is completed next month. The combined company, to be called Sears Holdings Corp., said William Crowley, 47, Kmart's senior vice president of finance, will become chief financial officer of the merged retailer. As recently as Feb. 15, Sears Roebuck CFO Glenn Richter, 42, had been identified as the new finance chief for Sears Holdings. But in a Securities and Exchange Commission filing Friday, Sears Holdings said Crowley would be CFO and that Richter would leave the company after the merger.
BUSINESS
By Becky Yerak and Becky Yerak,CHICAGO TRIBUNE | January 22, 2005
Shareholders of Sears, Roebuck and Co. should enjoy their quarterly dividends while they can. After the department store chain's merger with Kmart Holding Corp., which is expected to close in March, the new $55 billion retailer "does not expect to pay dividends in the foreseeable future," according to a Securities and Exchange Commission filing. Former Sears investors who become shareholders of the new Sears Holdings Corp. "instead must rely on increases in the trading price" of the merged company for any return on their investment, the filing said.
BUSINESS
November 21, 2007
Sears Holdings Shares declined $2.35 to $111.85. The Kmart and Sears parent bought an almost 14 percent stake of Restoration Hardware Inc. - which has already agreed to be sold to private equity firm Catterton Partners.
BUSINESS
By BLOOMBERG NEWS | February 3, 2005
NEW YORK - Sears Holdings Corp., the company to be formed by Kmart Holding Corp.'s purchase of Sears, Roebuck and Co., will list on the Nasdaq stock market, ending Sears' 95-year run on the New York Stock Exchange. "We are proud to welcome Sears Holdings Corp. to the Nasdaq and to our family of companies," Bob Greifeld, president and chief executive officer of the Nasdaq, said yesterday. Sears began trading on the Big Board on March 3, 1910. Kmart was delisted from the NYSE in December 2002 after becoming the largest U.S. retailer to file for bankruptcy protection.
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