Sears Holdings Corp said on Thursday it plans to shutter another 72 locations to stem losses in the face of deepening financial distress and reported a nearly 12 percent drop in quarterly comparable-store sales.
Citi Retail and Sears Holdings announced on Tuesday the extension of a 15-year credit card partnership, amounting to a $425 million cash injection for the U.S. retailer, as part of the 'Shop Your Way Mastercard' program.
Sears shares jumped 16 percent on Wednesday after the company announced a tyre service partnership with Amazon, part of Chief Executive Officer Edward Lampert’s strategy to make the troubled retailer profitable again.
Sears Holdings Corp's Eddie Lampert said the retailer should sell its Kenmore appliances brand, home improvement businesses, and real estate, adding that his hedge fund ESL Investments Inc would bid in any sale.
U.S. fashion footwear company Nine West Holdings Inc intends to file for bankruptcy as soon as this week with a plan to sell the intellectual property of its flagship brand to Authentic Brands Group LLC, sources said.