New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
May 22, 2014
10:55 EDTSHLD, M, BONT, JCPSears falls after reporting Q1 loss that nearly doubled analyst projections
Shares of U.S. and Canadian retailer Sears (SHLD) are falling today after the company reported a first quarter loss that was nearly double what analysts projected in both the U.S and Canada. WHAT'S NEW: Sears reported a Q1 loss per share of $3.79, which far surpassed analysts expectations of a loss per share of $1.87. The company reported Q1 revenue of $7.88B, which slightly beat analysts expectations of $7.71B. The company reported Sears Domestic comparable sales growth of 0.2% in the quarter, despite the continuing impact of consumer electronics industry trends. Kmart comparable store sales, excluding the impact of consumer electronics industry trends and the company's grocery and household goods business were down 0.4%. CEO Edward Lampert said that the company is undergoing a "significant transformation and fundamentally it is changing the way it does business. Our performance in Q1 highlights the challenges we are facing as well as the progress we are making in this transformation. We are moving away from a company that was heavily based on selling products solely through a store-based network to a member-centric business model focused on providing benefits to our members anytime and anyplace. We are seeing progress in our transformation to a member-centric, integrated retailer, as we continue to invest heavily in driving our Shop Your Way program. While this progress continued, the biggest negative contributor to sales has been from our consumer electronics business at both Sears and Kmart." The company noted that it continues to evaluate options to separate the Sears Auto Center business. WHAT'S NOTABLE: Yesterday, Sears Canada, which Sears Holdings owns a 51% stake in, reported a Q1 net loss that more than doubled year-over-year. OTHER NEWS: During the company's earnings conference calls, Sears Holdings said that it is planning to transform its consumer electronics business from a business that was focused primarily on selling televisions to a business focused on providing Connected Life solutions. The company noted that it is currently rolling out the concept to select stores. OTHERS TO WATCH: Competitors of Sears include Macy's (M), Bon-Ton Stores (BONT) and J.C. Penney (JCP). PRICE ACTION: During morning trading, shares of Sears fell $1.45 or $3.97% to $35.11. Macy's was up 1%, Bon-Ton Stores rose 2.16% and J.C. Penney rose 2%.
News For SHLD;M;BONT;JCP From The Last 14 Days
Check below for free stories on SHLD;M;BONT;JCP the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
August 1, 2014
12:44 EDTJCPJ.C. Penney August volatility elevated into Q2 and outlook
Subscribe for More Information
11:14 EDTJCPStocks with call strike movement; JCP DDD
Subscribe for More Information
July 31, 2014
16:10 EDTBONTBon-Ton Stores names Kathryn Bufano as CEO
Subscribe for More Information
06:55 EDTJCPJ.C. Penney turnaround 'very much underway,' says Piper Jaffray
Subscribe for More Information
July 30, 2014
07:37 EDTMMacy's volatility elevated into Q2 and outlook
Subscribe for More Information
July 28, 2014
08:01 EDTMMacy's FY14 SSS guidance likely at risk, says Deutsche Bank
Subscribe for More Information
July 25, 2014
15:32 EDTBONTGabelli raises stake in Bon-Ton Stores to 15.26% from 14.19%
Subscribe for More Information
July 23, 2014
09:02 EDTMMacy's reports new initiates in multi-year program to enhance sustainability
Subscribe for More Information
July 18, 2014
18:12 EDTMVisa, MasterCard denied bid to dismiss opt-out swipe fee suits, Bloomberg says
Merchants that opted out of the swipe-fee settlement brought their own suits, which Visa (V) and MasterCard (MA) were not approved to dismiss, Bloomberg reports. Merchants such as Target (TGT) and Macy’s (M) pursued their cases after dropping out of an earlier settlement over swipe fees, Bloomberg added. Reference Link
10:40 EDTJCPJ.C. Penney call active on renewed takeover chatter
Subscribe for More Information
10:28 EDTJCPRumor: J.C. Penney moves up on renewed takeover chatter

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use