Entries tagged "Sears"
Yes, it was a dismal 2008 holiday shopping season, and we will get to see the outcome Thursday. Most of the nation's retailers are expected to release reports of same-store sales at stores open over a year, which will indicate overall performance strategy going forward. Since sales in November and December account for 25% to 40% of many retailers' annual sales, according to the National Retail Federation, these results will likely expose the impact of the credit crisis on consumer confidence and reflect the overall state of the economy as the recession likely limited holiday spending and sent jobless claims...
The heads of the Big Three are again on their way to Washington to ask for bailout money, and financial and political bloggers are offering their opinions. US News & World Report's business blog Flow Chart lists the seven worst ideas on how to rescue Detroit. Deal Journal's Heidi Moore questions Ford Motor Co.'s CEO Alan Mullaly's sincerity about his company's restructuring plan, noting that the provision to possibly sell Volvo is in fact nothing new having been the industry's worst-kept secret since July. So what's another $25 billion or even $50 billion to save Detroit anyway, when the...
It's no secret the retail sector resembles a bombed-out war zone currently. Companies from Midwestern apparel chain Harold's Stores Inc. to the parent of discount retailer National Wholesale Liquidators, NWL Holdings Inc., to electronics seller Tweeter Opco LLC have filed for bankruptcy protection in just the past few weeks. Giants such as Mervyn's Holdings LLC and Linens 'n Things parent Linens Holding Co. are liquidating after failing to attract buyers. Steve & Barrys LLC may liquidate even after finding a buyer -- Bay Harbour Management LLC, which paid $168 million in August. And conditions only seem to be growing worse....
Restoration Hardware Inc. said Monday two proxy advisories had recommended shareholders vote in favor of the company's proposed Catterton Partners-led $4.50 per share buyout. Meanwhile, a shareholder class action seeking an injunction against the deal looms. ...
How will Blockbuster Inc., which held just about $185 million of cash on its balance sheet as of the fourth quarter ended Jan. 6, finance what could be up to a $1.4 billion purchase of Circuit City Stores Inc.? How about a jolt of electricity from billionaire Carl Icahn? ...
Reuters' Shop Talk blog Monday compares the Blockbuster Inc. offer for Circuit City Stores Inc. to Hollywood's formulaic blockbuster films. The blog examines step by step the plot elements of Mark Wattles' current dealmaking effort with his prior push to unload Hollywood Video. There are a lot of interesting similarities. However, there is another blockbuster retail merger you could also compare it to: Sears, Roebuck & Co.-Kmart Holding Corp....
