|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||0.1810 - 0.1900|
|52 Week Range||0.1500 - 2.7700|
|Beta (5Y Monthly)||2.30|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 7, 2019 - Aug 9, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||2.00|
(Bloomberg) -- The federal judge overseeing the bankruptcy of Sears Holdings Corp. appointed an examiner in the ongoing fight between the bankrupt estate of Sears and the ESL Investments Inc. unit that bought the company out of bankruptcy, according to a new court filing.Lawyers for the estate and the ESL subsidiary that bought the retailer, Transform Holdco LLC, haven’t been able to agree on three issues including the value of inventory the estate handed over to Transform when the sale closed.Michael Wyse, the managing director of Wyse Advisors LLC, will calculate final figures for the prepaid inventory shortfall, cash reconciliation and the specified receivables shortfall, according to the filing.Transform previously said the prepaid inventory shortfall was at least $72 million. U.S. Bankruptcy Judge Robert Drain ordered the estate and Transform to cooperate with Wyse and comply with any requests for documents or information.The two sides have been engaged in an ugly fight since shortly after the $5 billion sale was approved in February. The Sears estate sued ESL founder Eddie Lampert in April for allegedly transferring billions of dollars in company assets when the retailer was insolvent.Lampert sued the estate the following month for allegedly failing to deliver “hundreds of millions of dollars of assets” called for by the sales agreement.The case is Sears Holdings Corp., 18-23538, U.S. Bankruptcy Court, Southern District of New York (White Plains)To contact the reporter on this story: Josh Saul in New York at email@example.comTo contact the editors responsible for this story: Rick Green at firstname.lastname@example.org, Dawn McCarty, Allan LopezFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Fleet management company KeepTruckin is a well-known competitor in the electronic logging device market, but over the past year is has sharpened its focus on harnessing even more data to help fleets improve safety and drive down costs. A 10th-place finisher on the 2019 FreightTech 25 list, KeepTruckin leapt to No. 5 on the most recent list, announced at FreightWaves LIVE Chicago on Nov. 13. "We're super excited to be on the list again — especially moving up five spots, because all those companies are really strong," John Sears, KeepTruckin's senior data science manager, told FreightWaves.
As consumers flock towards their preferred retailer for Black Friday savings; the battle for top retailer may show how Streaming Giant Netflix may be in big trouble.
Early data into the Yahoo Finance newsroom indicates Black Friday and holiday sales will break records. According to Adobe Analytics online retail sales on Thursday are expected to hit $4.4 billion. That would be up 18.9% year-over-year. But those profits won’t necessarily help those troubled retailers who are expected to close brick and mortar stores.
The Boston-based investment is doubling down on its bet that operators of shopping centers will keep their grip on struggling properties longer than short sellers expect.
Transform Holdco, the company formed in January to buy the remaining assets of bankrupt retailer Sears Holdings Corp., disclosed late Thursday a list of the next Sears and Kmart stores to close by the end of February.
Transformco, the company formed in January to buy the remaining assets from the bankrupt Sears and Kmart chains, has laid off about 300 staffers at the company's Hoffman Estates headquarters and field offices, according to media reports. The company did not disclose how many people still work at the company headquarters. The news comes days after it was announced that 96 stores -- 51 Sears locations and 45 Kmart stores -- would be closing. Going-out-of-business sales will begin on Dec. 2. The SPDR S&P Retail ETF has gained 8.4% over the past year while the S&P 500 index is up 14.6% for the period.
Sears told Reuters on Thursday it had won a $250 million lifeline from lenders that include billionaire owner Eddie Lampert, and will close additional stores, as mounting losses strain the beleaguered U.S. department store chain's finances. The new loan, put together in recent weeks, increases by roughly $100 million the $150 million of financing that Sears raised several weeks ago, said people familiar with the transaction, who were not authorized to discuss publicly some aspects of the deal. Lampert, through his hedge fund ESL Investments Inc, has contributed a significant portion to the new financing, the people added.
The following are the top stories in the Wall Street Journal. - Beijing's announcement Thursday that the U.S. and China have mutually agreed to roll back tariffs as part of a "phase one" trade deal lifted financial markets, but questions remained over how much ground, if any, the Trump administration had agreed to give. - Gap Inc said its Chief Executive Officer Art Peck will step down immediately and be succeeded on a temporary basis by Robert Fisher, the son of the company's founders.
Kontoor Brands Inc. stock slipped 2.3% in Thursday premarket trading after the denim company reported a third-quarter revenue miss. Kontoor Brands' portfolio includes the Lee and Wrangler brands, which were spun off from VF Corp. this year and began trading in May. Net income was $14.5 million, or 25 cents per share, down from $71.0 million, or $1.25 per share, last year. Adjusted earnings were 95 cents, beating the FactSet consensus for 88 cents. Revenue of $638.1 million were down from $704.2 million and below the $646.0 million FactSet outlook. The company attributed the revenue decline to an exit from some underperforming geographies, including channels in India, a major retail bankruptcy in the fourth quarter of 2018 and currency headwinds. Sears Holdings Corp. filed for bankruptcy in October 2018. For the year, Kontoor expects revenue to exceed $2.5 billion, in line with the FactSet consensus for revenue of $2.57 billion. The company expects revenue to increase at a low-single-digit compound annual growth rate for 2020 and 2021. Kontoor stock is up 29.2% for the last three months while the S&P 500 index is up 6.7% for the period.
The new financing will help stock Sears' store shelves for the holiday shopping season, as it struggles to become profitable. Lampert is no stranger to bankrolling Sears, having extended loans through his hedge fund ESL Investments Inc to the department store chain over the past decade until its financial collapse last year. The new financing is backed by assets that include Sears' real estate and intellectual property, the sources said.
Bobbi Brown, a renowned American makeup artist, is teaming up with MasterClass to share her makeup secrets, thoughts on the beauty industry and offer advice from her time in the boardroom in a new lifestyle class, which is now available on www.masterclass.com. Bobbi Brown, founder of Bobbi Brown Cosmetics joins Yahoo Finance’s Editor in Chief Andy Serwer, Adam Shapiro, Julie Hyman and Brian Sozzi on On The Move to discuss that and more.
As we approach 2020, Yahoo Finance has been covering some business milestones of the past decade, including the biggest corporate busts of the past 10 years.
J.C. Penney shares surge after the retailer reported a narrow quarterly loss for Q3. Yahoo Finance’s Brian Sozzi and Alexis Christoforous discuss the company’s decline in sales, despite beating the markets expectations.
Gap CEO Art Peck says he's leaving the retailer as Sears announces it is closing another 96 stores. Yahoo Finance's Julie Hyman, Brian Cheung and Scott Gamm talk about the struggles these retailers face.
The owner of Sears and Kmart plans to close 96 stores by February, leaving only 182 locations left. Yahoo Finance’s Brian Sozzi and Alexis Christoforous discuss the struggling retail chain’s effort to stay in business, on The First Trade.
More troubles for Sears as the company is forced to borrow more money. Yahoo Finance's Adam Shapiro reports.