Hints and tips:
...“That he still has and uses a smoker to cook brisket he bought at Kmart 20-something years ago just speaks to him as a human being like all of us — and so very humble,” Bass said....
...The new lawsuit centres on a series of transactions involving Sears and Mr Lampert, who created the modern-day company when he engineered an $11bn merger of Sears and discount store rival Kmart in 2004....
...His proposal would keep 425 Sears and Kmart stores open and he has highlighted it could preserve up to 50,000 jobs....
...Japan’s Sojitz Corp, which has a supply agreement and a lending facility with Lynas, might be interested, he said....
...His plan could keep 425 Sears and Kmart stores open and preserve up to 50,000 jobs. Without it, the company could be heading for an outright liquidation....
...The company said on Thursday it aimed to save another $100m by pursuing “greater consolidation” of corporate and support functions at Sears and Kmart....
...The bid, made before a Friday afternoon deadline set by the bankruptcy court, could keep 425 Sears and Kmart stores open and preserve the jobs of up to 50,000 of their staff....
...Mr Lampert, the hedge fund manager once the toast of Wall Street, in 2004 famously acquired Sears and Kmart, another chain....
...The asset purchases agreed by Judge Drain are the latest in a series of transactions between the retailer and its chairman since he orchestrated an $11bn merger of Sears and discount store rival Kmart in...
...If it is approved, the plan would be the latest in a series of transactions between the retailer and Mr Lampert since he orchestrated an $11bn merger between Sears and discount store rival Kmart in 2004....
...Buying $110m of Kmart’s beaten-up bonds, he ensured he would become the retailer’s controlling shareholder when it emerged from bankruptcy....
...About 500 Sears and Kmart stores, along with the US company’s well-known brands including Kenmore appliances and DieHard batteries, would be swept up by Mr Lampert’s hedge fund ESL under the proposal....
...Mr Lampert was similarly vexed by fees in 2004 when he acquired Kmart, which he merged with Sears....
...The US president is 72, and that is the biggest problem facing Eddie Lampert, the hedge fund manager who has run Sears since merging it with Kmart 13 years ago: most subsequent generations of Americans don...
...Sears, which also operates Kmart, is to close 142 stores by the end of the year as part of an agreement with creditors....
...Changing consumer behaviour has left other tenants in malls that host Sears and Kmart stores struggling, too....
...The company, which has closed hundreds of its Sears and Kmart stores in recent years, would also pursue additional property sales to repay $1.5bn worth of its debt....
...The biggest unsecured creditor is Pension Benefit Guaranty Corp, the US government agency that insures pensions, but the sum it is owed is classified in court documents as “unknown”....
...Sliding sales and rising interest expenses on its debt pile dragged the owner of the Sears and Kmart chains to a net loss of $424m in the three months to May 5, compared with a profit of $245m in the same...
...The company said Thursday that it had informed associates that it planned to close 64 Kmart stores and 39 Sears stores between March and April....
...The company, which also owns Kmart, reported a net loss of $424m in the three months to May 5, compared to a profit of $245m in the same period a year earlier amid sliding sales and hefty interest payments...
...Competition from the group’s own Kmart chain of discount stores, too, has caused problems. Despite a 5 per cent drop in value, shares still trade at 17 times earnings before standard deductions....
...Analysts were looking for a steeper decline of 16.4 per cent across the company, or 16 per cent at Sears and 17 per cent at Kmart, per Thomson Reuters data....
...Our readers may be asking - who is doing well in this environment to offset the struggles of Sears, Kmart and Radioshack?...
...Within this, the gauge was down 13 per cent at Kmart and down 17 per cent at Sears, as the company closed down in-store pharmacies and cut back on the range of consumer electronic products it sells in those...
International Edition