sears holdings corp (SHLD) Key Developments
Craftsman to Introduce New Lineup of Lawn and Garden Equipment
Mar 13 15
Sears Holdings Corporation has announced that the Craftsman brand is introducing a new lineup of lawn and garden equipment. The new line of Craftsman Pro Series Riding Mowers are ideal for homeowners who have lawns with tall grass or hilly, uneven terrain. The riding mowers come in 42-, 46- and 54-in. reinforced steel deck options to provide strength and durability, and the spring assisted lift system and heavy gauge brackets are built for stability on uneven surfaces. Importantly, all riding mowers come equipped with a V-Twin Kohler® 7000 Elite Engine, which allows the user to reach speeds of up to 5.5 MPH. Pro Series Riding Mowers range from $1,999.99 to $3,499.99. For larger lawn care needs, the Craftsman Pro Series Zero Turn Riding Mowers offer a new solution. Reaching speeds of up to 8 MPH, users can cut large lawns quickly without sacrificing maneuverability. Fabricated steel deck options are available in 48-, 54- and 60-in. sizes, to provide strength and durability. Pro Series Zero Turn Riding Mowers are available now and range from $3,799.99 to $4,999.99. The Craftsman brand is reintroducing its most powerful battery powered lawn and garden platform. The upgraded 40 Volt cordless collection is powered by a 40 Volt MAX lithium-ion battery for a long runtime and includes a state of charge indicator so the user won't lose power in the middle of a job. 40 Volt 12-in. Cordless Chainsaw (071-98023) retails for $179.99 and comes equipped with tool-free chain tensioning, allowing for easier chain adjustment to attain the best cutting performance. 40 Volt Cordless Push Mower (071-98820) retails for $399.99 and features two 2.5 amp-hour 40 Volt MAX lithium-ion batteries for long runtime, ideal for small to medium yards and a great value. 40 Volt Cordless Hedge Trimmer (071-98022) retails for $149.99 and features a 24-in. dual-action blade with 3/4-in. cutting capability achieving the large blade gap of any Craftsman cordless hedge trimmer. 40 Volt Cordless Line Trimmer (071-98020) retails for $149.99 and gives the user the ability to easily and quickly trim edges and weeds in areas with obstacles or near irregular terrain. Features a 13-in. cutting swath to efficiently cover more ground and finish the job in less time. 40 Volt Cordless Sweeper (071-98021) retails for $149.99 and offers speed control, which allows the user to choose between six speed settings for optimal power or runtime. The sweeper has an air speed of up to 120 MPH and 90 CFM.
Sears To Split Off Stores
Feb 27 15
Sears Holdings Corporation (NasdaqGS:SHLD) plans to split off 200 to 300 stores into a separately owned real estate company by May or June 2015. The move would give Sears Holdings Corporation proceeds of about $2 billion.
Sears Holdings Corporation Reports Consolidated Unaudited Earnings Results for the Fourth Quarter and Full Year Ended January 31, 2015; Reports Impairment Charges for the Fourth Quarter Ended January 31, 2015
Feb 26 15
Sears Holdings Corporation reported consolidated unaudited earnings results for the fourth quarter and full year ended January 31, 2015. For the quarter, the company's merchandise sales and services were USD 8,099 million as compared to USD 10,593 million a year ago. Operating loss was USD 129 million as compared to USD 132 million a year ago. Loss before income taxes was USD 222 million as compared to USD 25 million a year ago. Net loss attributable to company's shareholders was USD 159 million against USD 358 million a year ago. Diluted loss per share was USD 1.50 against USD 3.37 a year ago. Adjusted EBITDA was USD 125 million against USD 12 million a year ago. The majority of the decline in revenues related to USD 1.1 billion associated with Sears Canada, which was de-consolidated in October 2014, USD 530 million from the separation of the Lands' End business, which was completed in the first quarter of 2014 and USD 497 million in less revenue from fewer Kmart and Sears Full-line stores.
For the full year, the company's merchandise sales and services were USD 31,198 million as compared to USD 36,188 million a year ago. Operating loss was USD 1,508 million as compared to USD 927 million a year ago. Loss before income taxes was USD 1,685 million as compared to USD 972 million a year ago. Net loss attributable to company's shareholders was USD 1,682 million against USD 1,365 million a year ago. Diluted loss per share was USD 15.82 against USD 12.87 a year ago. Adjusted LBITDA was USD 708 million against USD 337 million a year ago.
For the quarter, the company reported impairment charges of USD 38 million compared to USD 219 million a year ago.
Sears Store and Auto Center in Bay Shore to Close in May
Feb 25 15
The Sears store and auto center in Bay Shore will close in May. The two businesses are located in the Westfield South Shore mall and employ a total of 145 people. The businesses will close on May 3. Liquidation sales began Feb. 13 at the store, which opened in 1997. Sears is shutting the stores to cut costs.
Sears Holdings Corporation to Report Q4, 2015 Results on Feb 26, 2015
Feb 20 15
Sears Holdings Corporation announced that they will report Q4, 2015 results at 9:00 AM, Eastern Standard Time on Feb 26, 2015