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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 Holdings Announces Intention To Commence Private Exchange Offers
Tuesday, 23 Jan 2018 

Jan 23 (Reuters) - Sears Holdings Corp ::SEARS HOLDINGS ANNOUNCES INTENTION TO COMMENCE PRIVATE EXCHANGE OFFERS FOR OUTSTANDING 8% SENIOR UNSECURED NOTES DUE 2019 AND 6 5/8% SENIOR SECURED NOTES DUE 2018 AND PURSUE NEGOTIATED EXCHANGE OF CERTAIN OTHER INDEBTEDNESS.SEARS HOLDINGS - INTENDS TO PURSUE AMENDMENT OF ITS OUTSTANDING $300 MILLION PRINCIPAL AMOUNT SECOND LIEN TERM LOAN.  Full Article

Fairholme Capital Management LLC Reports 17.9 Pct Stake In Sears Holdings Corp As Of Nov 16
Thursday, 11 Jan 2018 

Jan 11 (Reuters) - Sears Holdings Corp ::FAIRHOLME CAPITAL MANAGEMENT LLC REPORTS 17.9 PERCENT STAKE IN SEARS HOLDINGS CORP AS OF NOVEMBER 16 - SEC FILING.FAIRHOLME CAPITAL MANAGEMENT L.L.C. HAD EARLIER REPORTED 21.8 PERCENT STAKE IN SEARS HOLDINGS CORP AS OF NOVEMBER 1, 2017 - SEC FILING‍​.  Full Article

Sears Holdings Announces Plan To Enhance Liquidity And Accelerate Return To Profitability
Wednesday, 10 Jan 2018 

Jan 10 (Reuters) - Sears Holdings Corp ::SEARS HOLDINGS ANNOUNCES PLAN TO ENHANCE LIQUIDITY AND ACCELERATE RETURN TO PROFITABILITY.RAISED $100 MILLION IN NEW FINANCING.HAS ALSO INITIATED SERIES OF FINANCIAL TRANSACTIONS TO RAISE AN INCREMENTAL $300 MILLION IN NEW LIQUIDITY.PURSUES AN ADDITIONAL $200 MILLION​ IN NEW FINANCING.SEARS HOLDINGS - AMENDED SECOND LIEN NOTES, MATURING OCTOBER 15, 2018, TO INCREASE BORROWING BASE ADVANCE RATE FOR INVENTORY, RESTART WITH Q2 OF 2018.SEARS HOLDINGS -‍​ PROGRESSING DISCUSSIONS ON ADDITIONAL TRANSACTIONS TO "ENHANCE LIQUIDITY AND STRENGTHEN BALANCE SHEET".OUTLINED INCREMENTAL ACTIONS TO FURTHER STREAMLINE OPERATIONS TO DRIVE PROFITABILITY.SEARS HOLDINGS - ACTIONS TO STREAMLINE OPERATIONS INCLUDE COST REDUCTIONS OF $200 MILLION ON ANNUALIZED BASIS IN 2018 UNRELATED TO STORE CLOSURES.SEARS HOLDINGS - AMENDED BORROWING BASE RELATING TO ITS SECOND LIEN NOTES, MATURING OCT 15, TO CHANGE ADVANCE RATE FOR INVENTORY TO 75% FROM 65%.ADJUSTED EBITDA IS EXPECTED TO BE BETWEEN NEGATIVE $10 MILLION TO NEGATIVE $70 MILLION FOR Q4 OF 2017.- EXPECT NET LOSS ATTRIBUTABLE TO SEARS HOLDINGS' SHAREHOLDERS OF BETWEEN $320 MILLION AND $200 MILLION IN Q4 OF 2017.COMPARABLE STORE SALES AT SEARS AND KMART FOR FIRST TWO MONTHS OF Q4 OF 2017 HAVE DECLINED IN RANGE OF 16%-17%.SEARS HOLDINGS - CONTINUING TO PURSUE SECURED CREDIT FACILITY, CONSISTING OF ABOUT $407 MILLION FIRST LIEN TRANCHE, SECOND LIEN TRANCHE OF UP TO $200 MILLION.  Full Article

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

BRIEF-Sears Holdings Says Expects Total Revenue Of $4.4 Bln For Q4

* SEARS HOLDINGS SAYS EXPECT TOTAL REVENUE OF $4.4 BILLION FOR Q4 - SEC FILING