Sears Holdings Chairman Eddie Lampert's ESL Investments has made an offer valued at $4.6 billion to buy the bankrupt U.S. retailer, one of the only options that would prevent the department store chain from shutting.
As store sales fall and purchases shift online over the Thanksgiving weekend, most U.S. retailers have boosted their web offerings but many still overlook the sales impact from opening their doors on Thursday evening.
Investors who bought insurance meant to mitigate losses from Sears Holdings Corp's bankruptcy proceedings are claiming that a hedge fund that sold the insurance is improperly influencing market proceedings.
The NYC-based brand management company announced its financial results for the third quarter of 2018 on Friday, reporting narrowed losses despite tumbling sales dragged down by the group’s men’s segment.
After a descent into bankruptcy, Sears Holdings has announced that it will close 11 Kmart locations and 29 Sears stores by February of 2019, joining over 200 other locations set to close in the near future.
Sears Holdings Corp is in discussions with Chairman Eddie Lampert and lenders on a deal to expand a bankruptcy financing package that would help it avoid liquidation, people familiar with the matter said.
Despite a moderate sales rise driven by a strong performance at its Champion brand, the apparel group reported a 15.7% decline in income in Q3 2018, impacted by a $14 million charge related to the Sears bankruptcy.
Shares of Amazon dropped by the most in four years on Friday after its outlook for holiday season sales missed targets, fanning concerns that Wall Street’s tech darlings are finally starting to face stronger competition.