The NYC-based brand management company announced its financial results for the third quarter of 2018 on Friday, reporting narrowed losses despite tumbling sales dragged down by the group’s men’s segment.
After a descent into bankruptcy, Sears Holdings has announced that it will close 11 Kmart locations and 29 Sears stores by February of 2019, joining over 200 other locations set to close in the near future.
Sears Holdings Corp is in discussions with Chairman Eddie Lampert and lenders on a deal to expand a bankruptcy financing package that would help it avoid liquidation, people familiar with the matter said.
Despite a moderate sales rise driven by a strong performance at its Champion brand, the apparel group reported a 15.7% decline in income in Q3 2018, impacted by a $14 million charge related to the Sears bankruptcy.
Shares of Amazon dropped by the most in four years on Friday after its outlook for holiday season sales missed targets, fanning concerns that Wall Street’s tech darlings are finally starting to face stronger competition.
Two Sears Holdings Corp board directors have hired investment bank Evercore to scrutinize deals that were led by former Sears Chief Executive Eddie Lampert with the retailer before it filed for bankruptcy protection.
Sears' Chairman Eddie Lampert is in discussions with at least one potential partner to contribute to a $300 million bankruptcy loan the U.S. retailer is seeking, people familiar with the matter said on Sunday.
U.S. footwear and apparel company Nine West Holdings Inc filed an amended Chapter 11 bankruptcy plan that will reduce its pre-bankruptcy debt obligations by more than $1 billion, the company said on Wednesday.