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News Breaks
August 11, 2014
14:50 EDTSHLD, TSCDYSears names former Tesco executive as President, Chief Member Officer for Kmart
Sears Holdings (SHLD) announced that Alasdair James has joined the company as President and Chief Member Officer for the Kmart business. In this role, James will be responsible for driving the Kmart format strategy, managing the Kmart P&L and aligning merchandise, marketing, pricing and selling to Shop Your Way members' needs. Since 2007, James held roles of increasing responsibility with Tesco (TSCDY), where he most recently served as the commercial director for the company's global business unit.
News For SHLD;TSCDY From The Last 14 Days
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October 7, 2015
06:41 EDTTSCDYTesco has decided not to sell Dunnhumby
Tesco announced that it has decided not to sell its loyalty card data business, Dunnhumby, following a comprehensive strategic review.
06:39 EDTTSCDYTesco says market remains 'challenging'
The company commented, "In the second half we will continue to benefit from initiatives already undertaken to improve our competitive position and reduce our cost base, leaving our full year expectations unchanged. Our focus remains on doing the right thing for customers and we are prepared to invest further if we see additional opportunity or need to enhance the long-term competitive position of the business."
06:39 EDTTSCDYTesco reports reports EPS 1H Group operating profit of GBP 354M
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October 6, 2015
12:54 EDTTSCDYSFO mulling plea deal with Tesco, FT reports
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12:18 EDTTSCDYTesco to simplify trade terms with suppliers
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October 5, 2015
08:21 EDTTSCDYTesco results likely to impress investors, 'rout bears,' says Bernstein
Bernstein expects Tesco's interim 1H15 results, due to be reported on Wednesday, to show impressive U.K. sales, increased balance sheet stability, and visibility on margins doubling next year. The firm thinks that investors should be pleased by these results, while they will prove the bears' thesis of a "stalled recovery" incorrect. Bernstein keeps an Outperform rating on the shares.
September 30, 2015
09:12 EDTSHLDSears volatility at low end of 52-week range
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September 28, 2015
10:18 EDTSHLDJ.C. Penney rises after CEO meeting prompts upgrade
Shares of J.C. Penney (JCP) are rising in morning trading after a Sterne Agee CRT analyst upgraded the retailer to Buy with a $13 price target following a meeting with the company's new chief executive officer. WHAT'S NEW: Sterne Agee CRT analyst Charles Grom upgraded J.C. Penney this morning to Buy from Neutral with a $13 price target after recently spending time with new CEO Marvin Ellison at the company's headquarters. Grom said he came away from the meeting "more confident" in the company's turnaround plan, adding that Ellison has the "right demeanor" and business sense to lead the company and "right the ship." Ellison took over as CEO of the retailer on August 1, replacing previous CEO Myron "Mike" Ullman. Sterne's Grom said that while the firm has previously been critical of the retailer's strategy, he believes the initiatives, led by Ellison, are "refreshing" and could boost the company's EBITDA. Grom thinks Ellison is the right person to help revive J.C. Penney and believes the company can surpass its long-term EBITDA target of $1.2B by 2017, saying that this goal "may prove to be a floor rather than a ceiling." Additionally, the analyst sees "multiple levers" to drive same-store sales higher. Despite his optimism in J.C. Penney's recovery story, the analyst notes that U.S. consumer spending is shifting away from traditional items in department stores toward move service-oriented products, traditional mall traffic trends remain "suppressed" and weather trends across the U.S. in August and September were not "ideal" for mall-based retailers. WHAT'S NOTABLE: J.C. Penney recently named John Tighe as executive vice president and chief merchant, effective October 1. Tighe, most recently senior vice president and senior general merchandise manager for the men's, children's, footwear, handbag and intimate apparel divisions, will succeed Elizabeth "Liz" Sweney, the company said. On August 31, Deutsche Bank analyst Paul Trussell upgraded J.C. Penney to Buy from Hold and raised his price target on the stock to $12 from $10, calling the company a "self-help story." Trussell noted that the company has already improved its merchandise mix and is now moving toward better pricing and fewer markdowns. Trussell said that the company's target of mid-single digit same-store sales growth looks "achievable" and its brands and assortment "look right." OTHERS TO WATCH: Other department store operators include Macy's (M), Kohl's (KSS) and Sears Holdings (SHLD). PRICE ACTION: J.C. Penney is up 1.5% to $9.57 in morning trading and is up nearly 50% year-to-date.

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