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Sears Holdings
24 мая, 16:30

Zacks Industry Outlook Highlights: Spirit Realty Capital, CorEnergy Infrastructure Trust, New Senior Investment Group and FelCor Lodging Trust

Zacks Industry Outlook Highlights: Spirit Realty Capital, CorEnergy Infrastructure Trust, New Senior Investment Group and FelCor Lodging Trust

24 мая, 13:43

Сегодня в США ожидается насыщенный день

В среду, 24 мая, в Соединенных Штатах Америки ожидается публикации двух важных показателей. Так, в 17:00 МСК выйдут апрельские данные по продажам домов на вторичном рынке. Ожидается, что показатель сократился с 5,71 млн месяцем ранее до 5,56 млн. В 17:30 МСК будет опубликована информация по запасам нефти за неделю, рассчитываемая EIA. Согласно нашим прогнозам, запасы сузились на 2,419 млн баррелей после уменьшения на 1,753 млн баррелей неделей ранее. Из второстепенных данных можно отметить недельный блок данных по ипотечному рынку, индекс деловой активности в промышленности за май, запасы бензина и дистиллятов на неделю, по оценке EIA. В календаре корпоративных отчетностей на сегодня значатся: Lowe's Companies, Sears Holding, Tiffany & Co (до открытия); Guess, HP, NetApp, Williams-Sonoma (после закрытия). В 21:00 МСК будет опубликован протокол Комитета по открытым рынкам США ("минутки ФРС).

24 мая, 11:23

Сегодня в США ожидается насыщенный день

В среду, 24 мая, в Соединенных Штатах Америки ожидается публикации двух важных показателей. Так, в 17:00 МСК выйдут апрельские данные по продажам домов на вторичном рынке. Ожидается, что показатель сократился с 5,71 млн месяцем ранее до 5,56 млн. В 17:30 МСК будет опубликована информация по запасам нефти за неделю, рассчитываемая EIA. Согласно нашим прогнозам, запасы сузились на 2,419 млн баррелей после уменьшения на 1,753 млн баррелей неделей ранее. Из второстепенных данных можно отметить недельный блок данных по ипотечному рынку, индекс деловой активности в промышленности за май, запасы бензина и дистиллятов на неделю, по оценке EIA. В календаре корпоративных отчетностей на сегодня значатся: Lowe's Companies, Sears Holding, Tiffany & Co (до открытия); Guess, HP, NetApp, Williams-Sonoma (после закрытия). В 21:00 МСК будет опубликован протокол Комитета по открытым рынкам США ("минутки ФРС).

24 мая, 00:48

Why Betting on REITs Could Be Risky Now

Why Betting on REITs Could Be Risky Now

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21 мая, 16:06

Sears' CEO blames the media for company's decline — but his obsession with Wall Street set it up for failure

Sears Holdings spent $5.8 billion buying back shares from 2005 to 2010, draining the company of...

17 мая, 23:14

American Eagle (AEO) Shares Tank 13% on Bleak Guidance, Store Closings

Shares of American Eagle Outfitters (AEO) plummeted on Wednesday after the clothing retailer reported its first quarter earnings. But the previous quarter proved not to be the issue. Instead, it's American Eagle's forecast that has investors jumping ship.

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16 мая, 21:10

RETAIL BLUES: Wary Vendors May Mean the End for Sears Holdings. In [CEO Eddie] Lampert’s blog pos…

RETAIL BLUES: Wary Vendors May Mean the End for Sears Holdings. In [CEO Eddie] Lampert’s blog post, he calls out one specific vendor, One World, which he notes is a subsidiary of Techtronic Industries, a conglomerate based in China with over $5 billion in revenues. He said that the company, which Sears has purchased from […]

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16 мая, 17:59

Clothing Retailer Rue21 Files For Bankruptcy, Many More On Deck

This time Fitch was right. One month ago the rating agency listed 8 retail names that were most likely to file for bankruptcy next, just over a month later 1 out of the 8 was down, when teen clothing retailer Rue21 filed a prepackaged bankruptcy on Monday night in Pennsylvania bankruptcy court. In its bankruptcy petition, the company which retained Kirkland & Ellis as legal advisor, Rothschild as financial advisor, and Berkeley Research as its restructuring advisor, listed both assets and liabilities in the range of $1 to $10 billion. The restructuring process, during which the company will operate as normal, will lead to company's "transformation into a more focused and highly performing retailer" the company announced in a press release, and added that as part of its restructuring process, it had "entered into a Restructuring Support Agreement (RSA) with certain of its stakeholders that confirms the support of the Debtors' key constituents for the Debtors' restructuring process and contemplates, among other things, an emergence from chapter 11 proceedings in the fall of 2017 with a significantly deleveraged balance sheet.  In particular, lenders holding 96.8% of the Company's secured term loan, bondholders representing 60.2% of the Company's issued and outstanding unsecured notes, and the Company's majority shareholder each executed the Restructuring Support Agreement." The Company has also reached agreements, subject to the approval of the Court, to obtain up to $125 million in ABL debtor-in-possession financing from its existing ABL lenders and up to $50 million in new money term loan debtor-in-possession financing from a subset of its existing term loan lenders.  This financing is intended to provide the Company with the liquidity necessary to support its ongoing business operations during the financial restructuring process Melanie Cox, Chief Executive Officer of rue21, said "These actions are being undertaken with the goal of strengthening the Company's balance sheet, achieving a more efficient cost structure, and concentrating resources on a tighter retail footprint in order to pave the best path forward for rue21. Even in a challenging environment, we are fortunate that rue21 has highly relevant brands, an enthusiastic and loyal customer base, and hundreds of highly performing stores. The agreement with our lenders represents their confidence in rue21's future success even at a time of significant retail industry change. Looking ahead, I am confident that the outcome of this process will be a stronger and more sustainable rue21 for our customers, vendors and business partners." The company also noted that last month it began the process of closing approximately 400 underperforming stores in its 1,179 store fleet in order to streamline operations, however it warned that it "may evaluate additional store closings as it continues to manage its real estate lease portfolio." Rue21’s bankruptcy filing lifts Fitch’s U.S. retail trailing 12-month institutional leveraged loan default rate to 1.7% from 0.9%. An impending bankruptcy from Gymboree would further lift the retail TTM to 2.7%, Fitch said. The rating agency expects a flood of future defaults, and forecasts the retail loan default rate at 9% on roughly $6 billion of defaults, though it concedes that "the fate of Sears Holdings and the resolution of J. Crew Group’s bond exchange could materially alter the projection." It also noted that the high yield retail default rate is also expected to finish 2017 at 9%, with more than $4 billion of likely defaults Additional Fitch revised its retail concern list, which now lists eleven retailers on Fitch’s loans and/or bonds of concern lists, which compile issuers with a significant risk of default within the next 12 months, including: Sears Holdings Gymboree Nine West Holdings 99 Cents Only Stores True Religion Apparel Charlotte Russe Charming Charlie NYDJ Apparel Vince.A Claire’s Stores Chinos Intermediate Holdings (J Crew Group) Finally putting the 2017 announced store closings in context, here is a chart we showed one month ago. We expect many more names will soon be added to this running total.

16 мая, 02:04

Sears (SHLD) Stock Sinks After CEO Rant, Bankruptcy Talk

Shares of Sears Holdings Corporation (SHLD) plummeted on Monday after its CEO took to the internet to post a bizarre statement against one of the company's vendors.

15 мая, 17:26

5 Online Retail Stocks to Buy as Sales Pick Up in April

Retail sales improved in nine out of 13 major categories in April, while consumers continue to shift to online shopping.

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15 мая, 16:36

Sears is quietly closing more stores than it said it would — here's the list

Sears Holdings announced in January that it would shut down 150 stores this year, with most...

12 мая, 16:40

Retailers Slide: Will ETFs Bear the Pain as Q1 Unfolds?

Retail ETFs could stand out well as the funds can easily counter shocks from some of the industry's biggest components.

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11 мая, 18:49

The CEO of Sears says the nearly bankrupt company doesn’t need more customers

It’s understandable that Eddie Lampert, the CEO of Sears Holdings, is feeling the pressure. After all, his company is in a prolonged death spiral, and he’s now addressing speculation the 124-year-old retailer may be forced to declare bankruptcy. Yet none of that would explain his comments at yesterday’s shareholders meeting, when Lampert said, “We don’t…

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11 мая, 06:02

Edward Lampert: Sears' Troubles Are Everyone's Fault But Mine

In a somewhat unbelievable interview, Sears Holdings' CEO gave many reasons for the company’s continued downward spiral. None involved him.

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10 мая, 23:03

Sears CEO Lampert blames company's woes on 'irresponsible' media

HOFFMAN ESTATES, Ill. (Reuters) - Sears Holdings Corp Chief Executive Officer Edward Lampert blasted the media on Wednesday for "unfairly singling out" the company over the past decade and blamed "irresponsible" coverage for the retailer's woes.

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10 мая, 20:41

Sears CEO: Our Company's Troubles Are Everyone's Fault But Mine

In a somewhat unbelievable interview, Sears Holdings CEO Edward Lampert blames everyone but himself for the company's problems.

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26 апреля, 16:11

S&P: These Ten Retailers Will File For Bankruptcy Next

Three weeks ago, we reported that Fitch had put together a list of 8 retailers who were likely next in line to file for bankruptcy. The rating agency speculated that distressed legacy "bricks and mortar" outlets such as 99 Cents Only, rue 21, Gymboree and True Religion would follow what has already been a historic surge in retailers filing for Chapter 11 protection and/or shuttering stores. The Fitch list is below: Sears Holdings Corp (roughly $2.5 billion); 99 Cents Only Stores LLC; Charming Charlie LLC; Gymboree Corp.; Nine West Holdings Inc.; NYDJ Apparel LLC; rue21, Inc.; and True Religion Apparel Inc. Putting this list in context, over the weekend we presented a chart from Credit Suisse showing that on an annualized basis, some 8,640 - or more - stores would be closed in 2017, the highest number on record. As we further showed, the number of announced store closures so far in 2017 - whether in bankruptcy or otherwise - is already staggering: Additionally, as the WSJ previously observed, the number of bankruptcies so far this year has already come close to the total in 2016, with 14 retailers filing compared with 18 last year. And it's only just beginning. Taking a cue from their peers at Fitch, analysts at S&P Global Market Intelligence likewise released a list of 10 publicly traded retailers they consider most at risk of default within the next 12 months. As the WSJ notes, the firm’s analysis is based on industry factors, such as intensity of competition and barriers to entry, as well as company-specific metrics. “The shift to online shopping has left a lot of financial distress in its wake,” Jim Elder, director of risk services at S&P, wrote in a research note. “The results from the first quarter do not suggest that a quick recovery is on the horizon.” As expected, some (surprisingly not all) retailers disputed S&P’s analysis; the rest pointed to previous statements or didn’t respond to requests for comment. Also notable: while there were some similarities between the Fitch and S&P lists, namely Sears, most of the names in the two lists diverged, suggesting that between Fitch and S&P up to 17 retailers may be going under soon. Here’s S&P’s ranking, courtesy of the WSJ: 1. Sears Holdings Corp. Sears has been buying time by making cost-saving maneuvers that include the sale of its Craftsman brand and the closure of 150 stores. On Friday, the retailer said it would shutter 92 Kmart pharmacies and 50 Sears Auto locations this year. Sears “is determined to remain a viable competitor in retail and we are taking all necessary actions to improve our performance,” said a spokesman for the company. 2. DGSE Companies Inc. The Dallas-based seller of precious metals and jewelry has been struggling with declining sales. It has a market value of about $43 million. Following a leadership change in December, the company said it “eschewed the unsuccessful strategies of recent years” and expects to post a profit in the first quarter for the first time in four years. 3. Appliance Recycling Center of America Inc. The recycler and seller of household appliances, with about 18 retail locations under the ApplianceSmart banner, has a market value of less than $10 million. 4. The Bon-Ton Stores Inc. The department store chain, with dual headquarters in Milwaukee, Wis., and York, Pa., reported a $63 million loss in 2016 and expects comparable sales to decline in 2017. It operates about 263 stores. Although it had more than $2.5 billion of revenue last fiscal year, it has a $13 million market value. 5. Bebe Stores Inc. The mall-based women’s apparel chain, which was popular for its fitted clothing in the early 2000s, has suffered from declining foot traffic and a consumer shift toward more subtle styles. Last week, the company said it would close its remaining 168 locations and only sell online. 6. Destination XL Group Inc. The chain sells men’s big and tall apparel in about 344 stores. The company said in March it would slow store expansion, increase marketing spending and improve its digital operations. It projected a net loss for 2017 on about $470 million to $480 million in revenue. “We strongly believe the analysis by S&P Global Research is misguided and does not in any way, shape, or form fairly represent our company’s current financial position,” said David Levin, CEO of Destination XL. “Our financial condition is extremely healthy.” 7. Perfumania Holdings Inc. The specialty retailer, which sells perfumes and fragrances, has been facing dwindling foot traffic to its stores in malls and tourist-dependent areas. The company has a market cap of about $14 million. 8. Fenix Parts Inc. A small reseller of automotive parts reclaimed from damaged vehicles. It has a market value of less than $25 million. 9. Tailored Brands Inc. Tailored Brands, which primarily sells men’s apparel, has been struggling amid increased competition from several e-commerce players. Comparable sales at Men’s Wearhouse, the company’s largest brand, fell 2.2% in the fourth quarter and are expected to decline in fiscal 2017. Shares are down nearly 50% this year. The S&P’s analysis is “extremely misleading” because it “does not take into account debt maturities and our first debt maturity is not until 2021,” a company spokeswoman said. 10. Sears Hometown and Outlet Stores Inc. The retailer, which was spun off from Sears Holdings in 2012, closed 160 stores in fiscal 2016 as part of an effort to cut costs. As of Jan. 28, the company or its independent dealers and franchisees operated a total of 1,020 stores. It had $2 billion in revenue last fiscal year, but has lost money for three straight years.

25 апреля, 22:22

5 Retail Stocks to Ride Out the Brick-and-Mortar Debacle

Select brick-and-mortar stocks still offer the promise of strong profits

24 апреля, 23:40

3 IPOs to Watch For This Week

The last week of April is scheduled to see eight different companies go public, and Zacks has you covered with three unique IPO offerings to watch out for.