85
Fashion Jobs
JO MALONE LONDON
Education Manager, Jml/lm
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Senior HR Operations Executive/ Assistant Manager
Permanent · HO CHI MINH CITY
ADIDAS
Key Account Manager (Franchise)
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Commercial, Adigolf, Vietnam 1
Permanent · HO CHI MINH CITY
ADIDAS
Key Account Manager 1 (Franchise)
Permanent · HO CHI MINH CITY
COLUMBIA
lo Costing & Engineering Manager
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Category Manager - Cpd
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Business Planning Manager - Cpd
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager Product Creation (Sportwear)
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Product Manager - Shu Uemura
Permanent · HO CHI MINH CITY
ADIDAS
Manager, Quality Product Integrity
Permanent · HO CHI MINH CITY
TAPESTRY
Manager, Manufacturing Engineer
Permanent · HO CHI MINH CITY
SPECIALIZED
Painting Quality Engineer - Bình Dương, Vietnam
Permanent ·
ON RUNNING
Social Compliance Specialist - Hcm Based
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Sourcing Operations
Permanent · HO CHI MINH CITY
WILLIAMS SONOMA
Wood Sustainability Specialist - (Global)
Permanent · THUẬN AN
PUMA
Manager Quality Apparel & Accessories
Permanent · HO CHI MINH CITY
PUMA
Senior Executive, Finance
Permanent · HO CHI MINH CITY
PUMA
Head of Quality Footwear
Permanent · HO CHI MINH CITY
PUMA
Quality Engineer Cobra
Permanent · HO CHI MINH CITY
PUMA
Key Account Manager, Marketplace E-Com
Permanent · HO CHI MINH CITY
ON RUNNING
Head of Footwear Sourcing
Permanent · HO CHI MINH CITY
By
Reuters
Published
Nov 8, 2017
Download
Download the article
Print
Text size

Sears sees smaller third-quarter loss

By
Reuters
Published
Nov 8, 2017

U.S. retailer Sears Holdings Corp on Wednesday forecast a smaller loss for the third quarter, and said it signed a deal to relieve itself from making some future pension contributions.


Sears forecasts a smaller Q3 loss compared to the same period last year - Photo: Reuters


As part of an agreement, Sears will pay $407 million to Pension Benefit Guaranty Corp (PBGC) and relieve itself from making pension contributions for the next two years.

Sears said it would raise the money by selling some stores and through financing secured by some properties.

The payment would also release 140 Sears properties from a ring-fence arrangement with PBGC. Ringfencing separates a company’s assets or profits from its finances, and is done to protect assets from creditors or for regulatory or tax purposes.

Sears said it has contributed about $4.5 billion to pension plans since the 2005 merger of Sears and Kmart.

The retailer, which has reported years of declining sales, said it expects a net loss of between $525 million and $595 million for the third quarter from store closures, compared with a $748 million loss in the same period a year ago.

Sears also said it would look at options to meaningfully reduce cash interest payments in 2018.

The company’s shares were down 3 percent in premarket trading.
 

© Thomson Reuters 2024 All rights reserved.