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SHLD

Sears

$11.46

0.46 (4.18%)

13:46
10/03/16
10/03
13:46
10/03/16
13:46

Sears says no plans to close Kmart format

Sears Holdings Chairman and CEO Eddie Lampert said in a post to the company's corporate blog that the partnership between Shop Your Way, Sears Auto Centers and Uber announced last week is "another example of how we are transforming Sears Holdings to focus on serving our Shop Your Way members in a wide variety of ways." Lampert also issued a comment on the "frequent false and exaggerated claims" surrounding the company's Kmart business, stating that "there are no plans and there have never been any plans to close the Kmart format." Lampert added: "In fact, we've been working hard to make Kmart a more fun, engaging place to shop, powered by our integrated retail innovations and Shop Your Way. To report or suggest otherwise is irresponsible and is likely intended to do harm to our company to the benefit of those who seek to gain advantage from posting these inaccurate reports...We are acting more aggressively and continuing to evaluate stores as leases expire and as other opportunities present themselves that improve the economics of Sears Holdings. We expect to end up with a large chain of stores, some owned and some leased, but with a company focused on serving members broadly through Shop Your Way rather than exclusively or predominantly through our stores. Our stores remain extremely important to our future, but as part of an overall focus on serving our Shop Your Way members. We are working to restore the company to profitability. Our significant asset base gives us the wherewithal to fund our business, but we don't intend to use our asset value to support losses. Focusing on our best members, best stores and best categories means a smaller overall store footprint, and one that still represents one of the largest number of stores and square footage in the United States." Reference Link

SHLD Sears
$11.46

0.46 (4.18%)

03/17/16
EVER
03/17/16
NO CHANGE
EVER
Sears could trade as low as $3 per share, says Evercore ISI
02/09/16
EVER
02/09/16
NO CHANGE
EVER
Sell
Sears liquidity event a matter of 'when, not if,' says Evercore ISI
Evercore ISI analyst Greg Melich said the preliminary Q4 financials released by Sears showed comparable sales were worse than he expected at the flagship brand and at Kmart and that its margins were also worse than he thought. Sear's cash situation has gotten worse, making additional debt issuance more likely in 2016, Melich tells investors, adding that he believes "a liquidity event is a matter of when not if," and may be possible in 2017 at the current burn rate. The analyst keeps a Sell rating on Sears shares.
02/09/16
EVER
02/09/16
NO CHANGE
EVER
Sears is not a viable retailer, says Evercore ISI
Evercore ISI does not believe Sears is a viable retailer in its current form, and a liquidity event is a matter of when, not if. The firm's analyst said Sears' cash situation has deteriorated, making additional debt issuance more likely in 2016 with a larger liquidity event possible in 2017. Evercore has a base case of $4 per share on Sears based on its SOTP analysis.

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