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Sears Holdings Corp (SHLD.OQ)

SHLD.OQ on NASDAQ Stock Exchange Global Select Market

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19 Sep 2018
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Latest Key Developments (Source: Significant Developments)

Sears Holdings Says Substantial Doubt Deemed To Exist About Ability To Continue As Going Concern
Thursday, 13 Sep 2018 

Sept 13 (Reuters) - Sears Holdings Corp ::SEARS HOLDINGS - ACTIONS TO FUND LIQUIDITY NEEDS NOT BEEN FULLY EXECUTED AS OF DATE OF 10-Q FILING, SOME ACTIONS HAVE NOT RECEIVED NECESSARY APPROVALS.SEARS HOLDINGS SAYS CO CANNOT CONCLUDE ACTIONS TO FUND LIQUIDITY NEEDS ARE PROBABLE OF OCCURRING - SEC FILING.SEARS HOLDINGS -AS CO CANNOT CONCLUDE ACTIONS ARE PROBABLE OF OCCURRING, SUBSTANTIAL DOUBT DEEMED TO EXIST ABOUT ABILITY TO CONTINUE AS GOING CONCERN.  Full Article

Sears Holdings - Entered Amendment To Pension Plan Protection And Forbearance Agreement
Tuesday, 4 Sep 2018 

Sept 4 (Reuters) - Sears Holdings Corp ::SEARS HOLDINGS - ON AUG. 30, ENTERED AMENDMENT TO PENSION PLAN PROTECTION AND FORBEARANCE AGREEMENT, DATED MARCH 18, 2016.SEARS - UNDER PPPFA AMENDMENT, ON $32.0 MILLION ESCROW DEPOSIT BY SOME UNITS FOR CO'S PENSION PLANS, PBGC LIENS ON 12 REAL ESTATE PROPERTIES TO TERMINATE.SEARS HOLDINGS - REQUIRED DEPOSIT MADE ON AUG. 30, AND PBGC'S LIENS ON REAL PROPERTIES RELEASED.SEARS HOLDINGS - ON AUG. 31, AMENDED CREDIT AGREEMENT DATED MARCH 14, AND BORROWED ADDITIONAL $113.0 MILLION.SEARS HOLDINGS - CREDIT AGREEMENT AMENDMENT EXTENDED MATURITY DATE OF ORIGINAL LOAN TO AUG. 30, 2019.  Full Article

Sears Auto Center And Amazon Expand Tire Purchase And Installation Program
Tuesday, 28 Aug 2018 

Aug 28 (Reuters) - Amazon.com Inc ::SEARS AUTO CENTER AND AMAZON.COM EXPAND TIRE PURCHASE AND INSTALLATION PROGRAM.SEARS HOLDINGS - SHIP-TO-STORE TIRE SOLUTION IS NOW AVAILABLE NATIONWIDE INCLUDING ALASKA AND HAWAII.  Full Article

Seritage Growth Properties Says Sears Holdings Exercised Right Under Master Lease To Terminate Master Lease With Respect To 9 Stores
Thursday, 5 Jul 2018 

July 5 (Reuters) - Sears Holdings Corp ::SERITAGE GROWTH PROPERTIES SAYS SEARS HOLDINGS EXERCISED RIGHT UNDER MASTER LEASE TO TERMINATE MASTER LEASE WITH RESPECT TO NINE STORES - SEC FILING.SERITAGE GROWTH PROPERTIES - AGGREGATE ANNUAL BASE RENT OF 9 STORES IS ABOUT $4.3 MILLION.  Full Article

Sears Holdings Reports Q1 Loss Per Share $3.93
Thursday, 31 May 2018 

May 31 (Reuters) - Sears Holdings Corp ::SEARS HOLDINGS REPORTS FIRST QUARTER 2018 RESULTS.Q1 LOSS PER SHARE $3.93.Q1 REVENUE $2.9 BILLION VERSUS $4.2 BILLION.TOTAL COMPARABLE STORE SALES DECLINED 11.9% DURING QUARTER.IDENTIFIED ABOUT 100 NON-PROFITABLE STORES, 72 OF WHICH WILL BEGIN STORE CLOSING SALES IN NEAR FUTURE.9.5% DECLINE AT KMART AND A 13.4% DECLINE AT SEARS IN QTRLY COMP SALES.  Full Article

ESL Partners Lp Says On April 20, Delivered Letter To The Board Sears Holdings Corp
Monday, 23 Apr 2018 

April 23 (Reuters) - Sears Holdings Corp ::ESL PARTNERS LP SAYS ON APRIL 20, DELIVERED LETTER TO THE BOARD SEARS HOLDINGS CORP - SEC FILING.ESL PARTNERS - ESL'S LETTER PROPOSED THAT SEARS HOLDINGS' BOARD CONSIDER DIVESTURE OF ALL OR A PART OF ITS RIGHTS TO KENMORE BRAND NAME, RELATED ASSETS.ESL PARTNERS LP SAYS PROPOSAL ALSO INCLUDED NON-BINDING INDICATION OF INTEREST TO ACQUIRE SHIP AND PARTS DIRECT FOR $500 MILLION.ESL PARTNERS-PROPOSAL ALSO NOTES, IF SEARS BELIEVED IT WOULD BE HELPFUL, WOULD BE PREPARED TO SUBMIT PROPOSAL TO ACQUIRE ALL OR PORTION OF KENMORE.  Full Article

Sears Holdings Releases Statement on Data Security Incident
Thursday, 5 Apr 2018 

April 4 (Reuters) - Sears Holdings Corp ::SEARS HOLDINGS SAYS 247.AI, THAT PROVIDES ONLINE SUPPORT SERVICES TO SEARS AND KMART, NOTIFIED CO THAT THEY EXPERIENCED SECURITY INCIDENT LAST FALL‍​.SEARS HOLDINGS SAYS INCIDENT INVOLVED UNAUTHORIZED ACCESS TO LESS THAN 100,000 OF CUSTOMERS' CREDIT CARD INFORMATION.SEARS HOLDINGS SAYS AS SOON AS CO WAS NOTIFIED, CO LAUNCHED THOROUGH INVESTIGATION WITH FEDERAL AUTHORITIES, BANKING PARTNERS, AND IT SECURITY FIRMS.SEARS HOLDINGS SAYS CREDIT CARD INFO FOR CERTAIN CUSTOMERS WHO TRANSACTED ONLINE BETWEEN SEPT 27, 2017 AND OCT 12, 2017 MAY HAVE BEEN COMPROMISED.SEARS HOLDINGS SAYS NO EVIDENCE THAT STORES WERE COMPROMISED OR THAT ANY INTERNAL SEARS SYSTEMS WERE ACCESSED BY THOSE RESPONSIBLE.  Full Article

Sears Holdings Announces Intention To Commence Private Exchange Offers
Tuesday, 23 Jan 2018 

Jan 23 (Reuters) - Sears Holdings Corp ::SEARS HOLDINGS ANNOUNCES INTENTION TO COMMENCE PRIVATE EXCHANGE OFFERS FOR OUTSTANDING 8% SENIOR UNSECURED NOTES DUE 2019 AND 6 5/8% SENIOR SECURED NOTES DUE 2018 AND PURSUE NEGOTIATED EXCHANGE OF CERTAIN OTHER INDEBTEDNESS.SEARS HOLDINGS - INTENDS TO PURSUE AMENDMENT OF ITS OUTSTANDING $300 MILLION PRINCIPAL AMOUNT SECOND LIEN TERM LOAN.  Full Article

Fairholme Capital Management LLC Reports 17.9 Pct Stake In Sears Holdings Corp As Of Nov 16
Thursday, 11 Jan 2018 

Jan 11 (Reuters) - Sears Holdings Corp ::FAIRHOLME CAPITAL MANAGEMENT LLC REPORTS 17.9 PERCENT STAKE IN SEARS HOLDINGS CORP AS OF NOVEMBER 16 - SEC FILING.FAIRHOLME CAPITAL MANAGEMENT L.L.C. HAD EARLIER REPORTED 21.8 PERCENT STAKE IN SEARS HOLDINGS CORP AS OF NOVEMBER 1, 2017 - SEC FILING‍​.  Full Article

Sears Holdings Announces Plan To Enhance Liquidity And Accelerate Return To Profitability
Wednesday, 10 Jan 2018 

Jan 10 (Reuters) - Sears Holdings Corp ::SEARS HOLDINGS ANNOUNCES PLAN TO ENHANCE LIQUIDITY AND ACCELERATE RETURN TO PROFITABILITY.RAISED $100 MILLION IN NEW FINANCING.HAS ALSO INITIATED SERIES OF FINANCIAL TRANSACTIONS TO RAISE AN INCREMENTAL $300 MILLION IN NEW LIQUIDITY.PURSUES AN ADDITIONAL $200 MILLION​ IN NEW FINANCING.SEARS HOLDINGS - AMENDED SECOND LIEN NOTES, MATURING OCTOBER 15, 2018, TO INCREASE BORROWING BASE ADVANCE RATE FOR INVENTORY, RESTART WITH Q2 OF 2018.SEARS HOLDINGS -‍​ PROGRESSING DISCUSSIONS ON ADDITIONAL TRANSACTIONS TO "ENHANCE LIQUIDITY AND STRENGTHEN BALANCE SHEET".OUTLINED INCREMENTAL ACTIONS TO FURTHER STREAMLINE OPERATIONS TO DRIVE PROFITABILITY.SEARS HOLDINGS - ACTIONS TO STREAMLINE OPERATIONS INCLUDE COST REDUCTIONS OF $200 MILLION ON ANNUALIZED BASIS IN 2018 UNRELATED TO STORE CLOSURES.SEARS HOLDINGS - AMENDED BORROWING BASE RELATING TO ITS SECOND LIEN NOTES, MATURING OCT 15, TO CHANGE ADVANCE RATE FOR INVENTORY TO 75% FROM 65%.ADJUSTED EBITDA IS EXPECTED TO BE BETWEEN NEGATIVE $10 MILLION TO NEGATIVE $70 MILLION FOR Q4 OF 2017.- EXPECT NET LOSS ATTRIBUTABLE TO SEARS HOLDINGS' SHAREHOLDERS OF BETWEEN $320 MILLION AND $200 MILLION IN Q4 OF 2017.COMPARABLE STORE SALES AT SEARS AND KMART FOR FIRST TWO MONTHS OF Q4 OF 2017 HAVE DECLINED IN RANGE OF 16%-17%.SEARS HOLDINGS - CONTINUING TO PURSUE SECURED CREDIT FACILITY, CONSISTING OF ABOUT $407 MILLION FIRST LIEN TRANCHE, SECOND LIEN TRANCHE OF UP TO $200 MILLION.  Full Article

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Sears' same-store sales losses narrow but warns it may go out of business

Sears Holdings Corp reported a smaller decline in quarterly same-store sales on Thursday, but warned again that there is doubt about the company's continued operation as it awaits approval to sell some of its businesses to its chief executive's hedge fund.