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Stock Market & Financial Investment News

News Breaks
November 14, 2012
06:04 EDTSHLDSears Holdings completes partial spin-off of its interest in Sears Canada Inc.
Sears Holdings Corp. announced that it completed its previously announced spin-off of a portion of its interest in Sears Canada Inc. Sears Holdings distributed approximately 44.5% of the total issued and outstanding common shares of Sears Canada on a pro rata basis to holders of Sears Holdings common stock. Following the partial spin-off, Sears Holdings has an approximately 51% ownership interest in Sears Canada. The partial spin-off was effective at 11:59 p.m. EST on Nov. 13. At that time Sears Holdings' stockholders received 0.4283 Sears Canada common shares for every share of Sears Holdings common stock held as of the close of business on Nov. 1, the record date for the spin-off. The distribution is taxable to Sears Holdings' stockholders for Canadian and U.S. federal income tax purposes. Sears Holdings will continue to be listed on the NASDAQ Global Select Market under the symbol "SHLD," and Sears Canada will continue to be listed on the Toronto Stock Exchange under the symbol "SCC".
News For SHLD From The Last 14 Days
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December 17, 2014
08:24 EDTSHLDSears 'strategic misdirection' highlighted by Mygofer failure, WSJ says
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December 15, 2014
11:17 EDTSHLDSears to have about 1,700 Sears, Kmart stores in operation going into 2015
On a company blog post, Sears CEO Eddie Lampert said: "At our most recent Town Hall meeting with our associates, I explained that I want us to operate our stores both profitably and with excellence. Both, not just one or the other.This is the background behind our decision to close more than 200 Kmart and Sears stores in 2014. Most of these stores were losing money, some for a long time. Because of the impact on our dedicated associates and our Shop Your Way members, these decisions were not taken lightly, or without our working to improve the performance of these stores over many years. Going into 2015, we will have approximately 1,700 Sears and Kmart big box stores in operation, representing about 200 million square feet of space." Reference Link

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