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CEO Eddie Lampert, whose hedge fund loaned the company 0 million in August, has pushed the idea that the company can stabilize by closing unprofitable stores and focusing on its Shop Your Way digital platform.
But little has happened to show that Lampert's vision will come true.
A popular lifestyle show has had a shakeup in its on-air lineup, with reporting that Cristina Ferrare, the longtime co-host of “Home & Family,” is leaving the Hallmark Channel morning show.
News that Sears Holdings had lined up a new credit facility sent shares of the company dramatically higher Thursday, Dec. The stock gained on the idea that the company behind Sears and Kmart had bought itself a little time even if the money it now has access to will not cover its 2017 debt-servicing needs. In addition, revenue dropped by 1 million in Q3.
Some of that comes from the chain having fewer Sears and Kmart stores open; having fewer locations did not boost the remaining ones.
Instead, comparable-store sales suffered a 7.4% decline, accounting for 4 million of the revenue drop.
Those are bad numbers and there's no reason to expect the company to reverse those fortunes in Q4.