Sears Holdings Provides Update On Its Interest In Sears Canada Inc.
HOFFMAN ESTATES, Ill., May 14, 2014
HOFFMAN ESTATES, Ill., May 14, 2014 /PRNewswire/ -- Sears Holdings Corporation
(NASDAQ: SHLD) announced today that it is exploring strategic alternatives for
its 51% interest in Sears Canada, including a potential sale of Sears
Holdings' interest or Sears Canada as a whole. In connection with those
efforts, Sears Holdings intends to engage an investment banking firm.
Sears Canada's board of directors has advised Sears Holdings that Sears
Canada's board and management intend to cooperate fully with Sears Holdings in
this process to achieve value for all shareholders.
This press release contains forward-looking statements with respect to
possible transactions involving Sears Canada Inc. Forward-looking statements
are subject to risks and uncertainties that may cause our actual results,
performance or achievements to be materially different from any future
results, performance or achievements expressed or implied by these
forward-looking statements. Such statements are based upon the current
beliefs and expectations of our management and are subject to significant
risks and uncertainties. The following factors, among others, could cause
actual results to differ from those set forth in the forward-looking
statements: our ability to enter into or complete a possible transaction with
respect to Sears Canada on acceptable terms, on intended timetables or at all;
the form or terms and conditions of any such transaction; the impact of the
evaluation and/or completion of any such transaction on our other businesses;
and the potential impact on our business from the announcement contained in
this press release. We intend the forward-looking statements to speak only as
of the time made and do not undertake to update or revise them as more
information becomes available except as required by law.
About Sears Holdings Corporation
Sears Holdings Corporation (NASDAQ: SHLD) is a leading integrated retailer
focused on seamlessly connecting the digital and physical shopping experiences
to serve our members – wherever, whenever and however they want to shop.Sears
Holdings is home to Shop Your Way^tm, a social shopping platform offering
members rewards for shopping at Sears and Kmart as well as with other retail
partners across categories important to them. The company operates through its
subsidiaries, including Sears, Roebuck and Co. and Kmart Corporation, with
more than 2,350 full-line and specialty retail stores in the United States and
Canada. For more information, visit www.searsholdings.com.
NEWS MEDIA CONTACT:
Sears Holdings Public Relations
SOURCE Sears Holdings Corporation
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