Sign In
Free Newsletter
5 more Md. stores closing after Sears files Chapter 11 bankruptcy
Sears filed for Chapter 11 bankruptcy protection Monday, buckling under its massive debt load and staggering losses.
No Md. stores among 72 to be shut by Sears
(THIS STORY HAS BEEN UPDATED) No Maryland stores are listed among the 72 to be closed by Sears, the latest move by the beleaguered retailer struggling to right itself. The retailer said that it has identified about 100 Sears and Kmart stores that are no longer turning a profit, and the majority of those locations […]
Sears signs new lease at Westfield Montgomery to remain open
New lease avoids store's closure and a loss of 73 jobs.
Sears keeps losing, though not as much as year before
Sears Holdings Corp. reported a hefty loss in the fourth-quarter on a 14 percent sales drop, as the beleaguered retailer continues to struggle to bring shoppers into its stores.
Sears to put Lands’ End into separate company
HOFFMAN ESTATES, Ill. — Sears Holdings Corp. said Friday that it will spin off its Lands’ End clothing business as a separate company by distributing stock to the retailer’s shareholders. It’s the latest move by the struggling retailer to turn around its results as it faces wider losses and increasingly displeased investors. Sears had said […]
Bain Capital to acquire Apex Tool Group
The owners of Sparks-based Apex Tool Group, a hand and power tools manufacturer that makes tools for Sears, among others, will sell the company to Bain Capital Partners, a Boston-based global private investment firm. Bain has agreed to pay approximately $1.6 billion to owners Danaher Corp., a Washington, D.C.-based health products company, and Cooper Industries […]
Toys R Us waives fee for layaway program
WAYNE, N.J. — Toys R Us is making it easier for shoppers to use its layaway program ahead of the crucial holiday season, waiving its service fee and minimum purchase requirement beginning Tuesday. As brick-and-mortar stores face increasingly tough competition from online retailers, chains like Toys R Us, Wal-Mart, Sears and others have been expanding […]
Sears spinning off some stores into separate company
NEW YORK — Sears is moving forward with plans to spin off its Hometown and Outlet stores as well as some hardware stores into a separate publicly traded company. The news sent the company’s stock up $2.16, or 4.2 percent, to $53.58 in afternoon trading Monday. Sears had signaled that it would split the companies […]
Sears Holdings returns to a profit in 1st quarter
HOFFMAN ESTATES, Ill. — Sears Holdings Corp. returned to a first-quarter profit, benefiting from a gain on the sale of some stores. The Hoffman Estates, Ill., company, which runs Sears, Kmart and Lands’ End, also said Thursday that it plans to spin off a minority stake in Sears Canada Inc. Sears earned $189 million, or […]
Sears execs say retailer financially strong
HOFFMAN ESTATES, Ill. — Sears executives tried Wednesday to ease concerns about the troubled retailer’s long-term outlook amid ever-sinking sales, emphasizing the company’s financial strength, increased liquidity and prospects to boost operational results. Chairman Edward Lampert told shareholders at Sears Holdings Corp.’s annual meeting that the company is “not planning [...]
Job seekers getting asked for Facebook passwords
SEATTLE — When Justin Bassett interviewed for a new job, he expected the usual questions about experience and references. So he was astonished when the interviewer asked for something else: his Facebook username and password. Bassett, a New York City statistician, had just finished answering a few character questions when the interviewer turned to her […]
Sears shedding some stores, reports 4Q loss
NEW YORK — Sears Holdings Corp. is looking toward its substantial real estate portfolio to offset its weak financial performance. The operator of Kmart, Sears and Land’s End said Thursday it will spin off some stores and sell others as it seeks to regain profitability and market share. The chain, led by billionaire Eddie Lampert, […]
