October 14, 2006 |
Sears Holdings Corp. is opening Lands' End clothing shops inside about 100 of its 870 department stores, the direct merchant's president said. Sears, owner of its namesake stores and Kmart discount chain, bought Lands' End in 2002 with the hope that the sailing-inspired clothing and housewares brand would draw more customers to its stores. But clothing sales at Sears have remained weak, prompting speculation that Sears Chairman Edward Lampert would sell Lands' End.
November 13, 2008 |
Sears Holdings Corp. is bringing layaway back to its namesake stores next week, nearly two decades after it was scrapped, after seeing a strong response to the pay-as-you-go plan at its Kmart locations. The move comes as shoppers look for ways to save money during what's expected to be the worst holiday shopping season in decades. Layaway will be available beginning Sunday in virtually all Sears departments except home appliances and home electronics.
November 28, 2007 |
Restoration Hardware Inc., a Corte Madera, Calif.-based home-furnishings chain, said it might consider Sears Holdings Corp.'s $269-million takeover bid and provide confidential financial data if Sears agreed not to start a tender offer for its shares. Sears has so far refused to sign an agreement precluding that from happening, Restoration Hardware said. Sears' revised bid of $6.75 a share is a "vast improvement" over its previous offer of $4, Restoration Hardware said.
March 1, 2008 |
Home furnishings and gift retailer Restoration Hardware Inc. spurned Sears Holdings Corp.'s $4.55-a-share offer for the company, saying it was not superior to Catterton Partners' offer of $4.50 a share. Department store retailer Sears had submitted its offer Thursday, the last day of a 35-day period for Restoration to solicit competing offers. Sears made a $6.75-a-share offer in November for Restoration, based in Corte Madera, Calif., but later withdrew it as Restoration's shares fell.
August 10, 2008 |
Sears Holdings Corp. and eight other companies agreed to pay a total of $355,000 in penalties for failing to immediately report to regulators defects in their hooded sweat shirts and jackets. AJ Blue, A&R Knitwear Inc., Cobmex Inc., Liberty Apparel Co., Rebelette International Trading Corp., Scope Imports Inc., Sears, Siegfried & Parzival Inc. and Vacation Clothing Exchange Inc. provisionally accepted the settlements, the Consumer Product Safety Commission said. Drawstrings at the hood and neck of those sweat shirts and jackets pose a strangulation hazard and would be considered defective, the commission said in May 2006.
June 1, 2007 |
Retailer Sears Holdings Corp. said its first-quarter earnings grew 20% on one-time gains while U.S. store sales dropped. For the quarter ended May 5, net income was $216 million, or $1.40 a share, compared with $180 million, or $1.14, a year earlier. Excluding one-time items, including a legal settlement and retirement benefit, the company earned $1.10 a share, compared with an adjusted $1.11 a share in the first quarter of 2006. Revenue fell to $11.7 billion from $12 billion a year earlier.