Sears Holdings(SHLD) can’t seem to catch a break. After weeks of falling, Sears stock rallied 8% today on no news. Shareholders should cut their rejoicing short after tonight’s report from Bloomberg that CIT(CIT) will no longer finance vendors for their sales to Sears. CIT would not confirm reports, but Sears spokeswoman Kimberly Freely confirmed...
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Earlier this week, Sears Holdings(SHLD) announced plans to shutter 100-120 stores. Today, the company released a pdf listing 79 stores to be closed, with more to be announced. I’ve converted this to a spreadsheet and mapped them View Sears Holdings 12/29/2011 Closings in a full screen map Of the stores closing 38 are Kmarts,...
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It looks like Edward Lampert has lost another round in his great experiment with retail. Neither of the two major brands that comprise Sears Holdings(SHLD) were in good shape when he purchased them. He famously purchased Kmart in bankruptcy, buying debt for pennies on the dollar and emerging from bankruptcy with a controlling stake(despite...
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