New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
May 22, 2014
10:55 EDTJCP, SHLD, BONT, MSears 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
Sign up for a free trial to see the rest of the stories you've been missing.
March 27, 2015
13:31 EDTMKellogg CEO John Bryant elected to Macy's board of directors
Subscribe for More Information
09:01 EDTMFinish Line sees Macy's business generating $240M-$250M in FY sales
Subscribe for More Information
08:56 EDTMFinish Line says Macy's partnership on the way to exceeding long-term vision
Subscribe for More Information
March 26, 2015
06:22 EDTMMacy's says mobile shopping, electronics dampening retail performance, MW says
Subscribe for More Information
March 24, 2015
08:26 EDTMMacy's says will keep investing in e-commerce, online security
Subscribe for More Information
08:24 EDTMMacy's says store closings 'not really about Internet'
Subscribe for More Information
07:27 EDTMTelsey Advisory to hold a conference
2015 Consumer Conference is being held in New York on March 24-25.
March 23, 2015
10:18 EDTSHLDSears Holdings volatility at low end of 44-month range as shares trend higher
Subscribe for More Information
March 20, 2015
09:01 EDTJCPJ.C. Penney says general counsel Janet Dhillon to leave company
J.C. Penney said in a filing that effective March 20, Janet Dhillon, Executive Vice President, General Counsel and Secretary, is leaving J. C. Penney Company.
March 19, 2015
07:04 EDTMAmerican Express confirms plans to launch Plenti loyalty program
Subscribe for More Information
March 18, 2015
13:30 EDTJCPJ.C. Penney trades lower after news of executive departures
Subscribe for More Information
12:35 EDTSHLDSears supply chain under pressure, WSJ says
Subscribe for More Information
06:16 EDTMAmerican Express to launch Plenti loyalty program this spring, WSJ reports
Subscribe for More Information
March 17, 2015
15:41 EDTJCPJ.C. Penney General Counsel Janet Dhillon leaving, Bloomberg says
Subscribe for More Information
06:57 EDTJCPJ.C. Penney CMO leaves company, effective immediately, AdAge reports
Subscribe for More Information

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