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Sears Holdings Corp (SHLD.OQ)

SHLD.OQ on NASDAQ Stock Exchange Global Select Market

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Latest Key Developments (Source: Significant Developments)

Sears Says Entered Into Agreement To Extend Maturity Of Existing Term Loan To Jan 2019
Wednesday, 13 Dec 2017 

Dec 12 (Reuters) - Sears Holdings Corp ::SEARS HOLDINGS CORP - ENTERED INTO AGREEMENT TO EXTEND MATURITY OF ITS EXISTING TERM LOAN FROM JUNE 2018 TO JAN 2019.SEARS HOLDINGS CORP - ALSO INTENDS TO OBTAIN NEW SECURED CREDIT FACILITY.SEARS HOLDINGS CORP - INTENDS TO USE PROCEEDS FROM SECURED CREDIT FACILITY TO FUND PAYMENT OF ABOUT $407 MILLION INTO SEARS PENSION PLANS.  Full Article

Memento Recommends Sears To Consider Going Private
Thursday, 7 Dec 2017 

Dec 7 (Reuters) - Sears Holdings Corp ::MEMENTO DELIVERS OPEN LETTER TO SEARS HOLDINGS BOARD.MEMENTO S.A. - RECOMMEND THAT SEARS HOLDINGS CORP'S BOARD CONSIDER STRATEGIC ALTERNATIVES SUCH AS GOING PRIVATE.MEMENTO S.A. - BELIEVE SEARS HOLDINGS' BOARD MUST FORM INDEPENDENT BOARD COMMITTEE TO LOOK AFTER EQUITY OWNERSHIP INTERESTS OF SHAREHOLDERS.MEMENTO S.A. - RECOMMEND SEARS HOLDING BOARD SEEK TEMPORARY RESTRICTION ON SHORT-SELLING IN ITS SHARES.MEMENTO S.A. - BELIEVE SEARS HOLDINGS' BOARD MUST SEEK AN SEC INVESTIGATION IN TO THE "POTENTIAL VIOLATIONS OF REGULATION SHO".  Full Article

Sears Holdings Q3 Loss Per Share $5.19
Thursday, 30 Nov 2017 

Sears Holdings Corp ::SEARS HOLDINGS REPORTS THIRD QUARTER 2017 RESULTS.Q3 REVENUE $3.7 BILLION VERSUS $5.0 BILLION.Q3 LOSS PER SHARE $5.19.- TOTAL COMPARABLE STORE SALES DECLINED 15.3% DURING QUARTER.- STORE CLOSURES CONTRIBUTED TO OVER HALF OF DECLINE IN QTRLY REVENUE.SEARS HOLDINGS - QTRLY REVENUE ALSO NEGATIVELY IMPACTED BY DECLINE IN NO. OF PHARMACIES IN OPEN KMART STORES & FALL IN CONSUMER ELECTRONICS ASSORTMENTS.- QTRLY ADJUSTED LOSS PER SHARE $2.64.SEARS - ‍ONCE AGREEMENT WITH PENSION BENEFIT GUARANTY CORP COMPLETES, ESTIMATED CONTRIBUTIONS OF $550 MILLION TO PENSION PLANS IN 2018, 2019 IS ELIMINATED​ ‍​.SAYS "‍WILL BE TAKING ACTION IN NEAR TERM WITH RESPECT TO CERTAIN UPCOMING DEBT MATURITIES"​.- QTRLY ‍KMART COMPARABLE STORE SALES DECREASED 13 PERCENT, WHILE QTRLY SEARS COMPARABLE STORE SALES DECLINED 17 PERCENT​.  Full Article

Sears Holdings sees net loss of $595 mln - $525 mln in Q3
Wednesday, 8 Nov 2017 

Nov 8 (Reuters) - Sears Holdings Corp :Q3 revenue $3.7 billion.Expects Q3 net loss attributable to Sears Holdings' shareholders to improve by approximately $190 million​.Entered deal with PBGC to release about 140 sears properties from ring-fence arrangement for $407 million of contributions to pension plans​.Says ‍"retail environment remains challenging", with continued pressures on sales​.Q3 2017 adjusted EBITDA is expected to improve by approximately $100 million​.Paid down outstanding borrowings under term loan maturing in June 2018 by $205 million during Nov, reducing outstanding balance to about $520 million​.Total comparable store sales declined 15.3% during quarter​.Paid down borrowings under term loan maturing in June of 2018 by $205 million during Nov reducing outstanding balance to about $520 million​.Qtrly ‍KMart comparable store sales decreased 13.0%, while Sears comparable store sales declined 17.0%​.Says ‍"we continue to review our capital structure to maximize our additional financial flexibility​".Will continue to evaluate alternatives to meaningfully reduce cash interest payments in 2018​.Expect a net loss attributable to Sears Holdings' shareholders of between $595 million and $525 million in Q3 of 2017​.At October 28, 2017, co had utilized approximately $805 million of its $1.5 billion revolving credit facility due in 2020​.Number of participants in company's pension plans has been reduced from about 400,000 to about 100,000​.  Full Article

Sears plans to close 45 Kmart stores, 18 Sears stores in late Jan 2018‍​
Friday, 3 Nov 2017 

Nov 3 (Reuters) - SEARS HOLDINGS CORP : :SEARS HOLDINGS CORP - ON NOV 2, INFORMED ASSOCIATES AT 45 KMART STORES AND 18 SEARS STORES THAT CO WILL BE CLOSING THESE STORES IN LATE JANUARY 2018‍​.  Full Article

Sears Holdings enters second amended and restated loan agreement through units​
Friday, 20 Oct 2017 

Oct 19 (Reuters) - Sears Holdings Corp :Sears Holdings Corp - ‍ on October 18, co through units entered into a second amended and restated loan agreement​- SEC filing.Sears Holdings - entered agreement ‍which amended, restated amended and restated loan agreement, dated as of Oct 4, 2017, with JPP LLC and JPP II LLC​.Sears Holdings - ‍on Oct 18, pursuant to second amended and restated loan agreement, borrowers borrowed an additional $40 million from lenders​.  Full Article

Sears ‍teams with Operation Homefront to grant mortgage-free homes to veterans this holiday season​
Thursday, 12 Oct 2017 

Oct 12 (Reuters) - Sears Holdings Corp :Sears - ‍teams with Operation Homefront to grant mortgage-free homes to veterans this holiday season​.  Full Article

Sears holdings reports second quarter 2017 results
Thursday, 24 Aug 2017 

Aug 24 (Reuters) - Sears Holdings Corp :Sears Holdings reports second quarter 2017 results and provides an update on recent liquidity and strategic actions.Q2 revenue $4.4 billion.Q2 same store sales fell 11.5 percent.Sears Holdings Corp - ‍Merchandise inventories were $3.4 billion at July 29, 2017, compared to $4.7 billion at July 30, 2016​.Qtrly ‍net loss per common share attributable to holdings' shareholders $2.34​.Sears Holdings Corp says "‍retail environment remained challenging, with continued softness in store traffic and elevated price competition​".Qtrly ‍Kmart comparable store sales decreased 9.4%​.In addition, will be notifying associates at 28 Kmart stores that co will be closing these stores later this year.Qtrly ‍sears comparable store sales declined 13.2%, with a 12.1% decline excluding consumer electronics category​.Sears Holdings Corp - ‍In Aug, reached agreement with Metropolitan Life Insurance Company to annuitize an additional $512 million of its pension liability​.Sears Holdings corp - ‍MLIC action is expected to have an immaterial impact on funded status of our total pension obligations​.Sears Holdings Corp - Continue to explore opportunities for Kenmore and DieHard brands, and Sears home services and Sears auto center businesses.Says ‍during Q2, store closures contributed to approximately $770 million of decline​ in total revenues.  Full Article

Sears Holdings to initiate closing of 8 Sears, 35 Kmart stores‍​
Friday, 7 Jul 2017 

July 7 (Reuters) - Sears Holdings Corp ::Sears Holdings says on July 7, co will initiate closing of an additional eight Sears and 35 KMART unprofitable stores‍​ - blog.Expect to introduce smaller concept stores in upcoming quarters while reducing number and/or size of larger-format, less competitive stores.  Full Article

Sears presentation - Executed $28 mln of real estate sales out of over $700 mln in bids received to date
Thursday, 25 May 2017 

May 25 (Reuters) - Sears Holdings :In presentation - executed $28 million of real estate sales out of over $700 million in bids received to date on over 60 properties.In presentation - evaluating remaining real estate offers and is expecting additional bids in the near future.In presentation - planning on using proceeds from the sale of real estate properties to reduce outstanding debt and strengthen balance sheet.  Full Article

RPT--Algerian wheat purchase raises U.S. farmer hopes for exports

CHICAGO, Dec 13 Falling prices have lured a big buyer to U.S.-grown, low-protein wheat, raising the prospect for farmers of more exports and the hope that the market for low-protein wheat may have reached its nadir.