Latest Sears Holdings Corp News

Correction: Sears-Survival story

Feb. 8, 2019 3:42 PM EST

NEW YORK (AP) — In a story Feb. 7 about Sears staying in business, The Associated Press incorrectly spelled the name of a popular American TV show that aired in the 1960s. The show is "The Andy Griffith Show," not "The Andy Griffin Show." The AP also incorrectly referred to the railroad tycoon. His name...

J.C. Penney to drop major appliances after a three-year run

Feb. 6, 2019 12:51 PM EST

NEW YORK (AP) — J.C. Penney will no longer be selling major appliances, ending its three-year run. The Plano, Texas-based department store chain also says on its company blog that furniture will only be available on its website and store locations in Puerto Rico. The move marks the first major initiative...

Retail group forecasts solid retail sales growth for 2019

Feb. 5, 2019 1:44 PM EST

NEW YORK (AP) — The National Retail Federation, the nation's largest retail trade group, forecasts that retail sales should grow between 3.8 percent and 4.4 percent to more than $3.8 trillion this year as shoppers remain in the mood to spend in a strong economy and job market. The forecast, released...

Sears creditors challenge hedge fund chairman's winning bid

Jan. 17, 2019 6:56 PM EST

NEW YORK (AP) — A group of Sears creditors are challenging Chairman Eddie Lampert's hedge fund's winning $5.2 billion bid to buy the business in a bankruptcy auction and wants to air their grievances in court. Sears confirmed Thursday that Lampert's hedge fund won tentative approval for the plan to buy 425...

The Latest: Sears creditors challenge ESL's winning bid

Jan. 17, 2019 5:14 PM EST

NEW YORK (AP) — The Latest on Sears bankruptcy auction (all times local): 5 p.m. A group of Sears creditors are challenging Chairman Eddie Lampert's hedge fund's winning bid to buy the business in a bankruptcy auction and wants to sue the billionaire and his hedge fund. That's according to a court filing...

Gymboree begins winding down operations after 2nd bankruptcy

Jan. 17, 2019 8:39 AM EST

SAN FRANCISCO (AP) — Gymboree has filed for bankruptcy protection for a second time in as many years, but this time the children's clothing retailer will begin winding down operations for good. The San Francisco company said late Wednesday that it will close all of its Gymboree and Crazy 8 stores and...

Sears survives a near-death experience, but for how long?

Jan. 16, 2019 5:32 PM EST

NEW YORK (AP) — Sears will live on — at least for now. Its chairman and biggest shareholder, Eddie Lampert, won tentative approval for a $5 billion plan to keep the ailing, 132-year-old department-store chain in business, fending off demands from creditors that it throw in the towel, according to a...

Goldman Sachs and Bank of America jump while Snap sinks

Jan. 16, 2019 4:43 PM EST

NEW YORK (AP) — Stocks that moved substantially or traded heavily Tuesday: Goldman Sachs Group Inc., up $17.17 to $197.08 The investment bank beat Wall Street's fourth-quarter expectations, posting strong results from its advisory business. Bank of America Corp., up $1.90 to $28.45 The bank's profit...

Strong economy does little to lift department store sales

Jan. 10, 2019 7:22 PM EST

NEW YORK (AP) — It was supposed to be a great holiday shopping season. Many investors had expected department stores to enjoy robust sales in light of a U.S. economy buoyed by low unemployment, higher wages, strong consumer confidence and cheap gas. So when Macy's and Kohl's reported lackluster numbers on...

Lampert's hedge fund makes last-minute bid to save Sears

Dec. 29, 2018 11:46 AM EST

NEW YORK (AP) — A hedge fund run by Sears Chairman Eddie Lampert said it submitted a last-minute bid Friday to keep the struggling retailer from being liquidated. The bid, valued at $4.4 billion, still needs to be approved. A court date is scheduled for the middle of January. Transform Holdco LLC, an...