We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Here's Why Sears Holdings (SHLD) Stock Is Gaining Today
Read MoreHide Full Article
Shares of Sears Holdings (SHLD - Free Report) gained more than 5% in morning trading Thursday after the struggling retail company announced new plans to keep the brand alive. Sears will shutter another 150 stores, including 108 Kmart locations, and the company will sell its Craftsman tools line to raise some much-needed cash.
Stop the Bleeding
As it stores failed to keep up with modern advances in retail, Sears’ Craftsman tools brand remained one of its lone selling points. That ends today as the company announced it is selling Craftsman to Stanley Black & Decker (SWK - Free Report) for a net present value of nearly $900 million.
Sears also announced this week that it is closing 108 Kmart stores and 42 Sears stores. These specific stores were some of the company’s most non-profitable stores and accounted for an adjusted loss of approximately $60 million over the past 12 months.
Going forward, Sears will most likely look to promote and sustain its stores that are able to be more than just retail outlets; if the company can survive in 2017, it will be because its successful stores are able to be an entertaining destination for its shoppers.
Sears also announced this week that it has entered into another committed secured loan facility worth up to $500 million. The loan comes from ESL Investments, which is a hedge fund managed by Sears CEO Edward Lampert.
Shares of SHLD have lost more than 45% over the last 52 weeks.
Long-Term Buys You Won't See in the News
The stocks you see in today's headlines may not be in the news tomorrow or next week. If you're looking for profitable long-term investments, you may be interested to see what Zacks Research is recommending to our private members. These moves have double and triple-digit profit potential. Starting now, you can look inside our stocks under $10, home run and value stock portfolios, plus more. Want a peek at this exclusive information? Click here>>
Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report predicting the 7 stocks that will soar highest in the coming month.
Image: Bigstock
Here's Why Sears Holdings (SHLD) Stock Is Gaining Today
Shares of Sears Holdings (SHLD - Free Report) gained more than 5% in morning trading Thursday after the struggling retail company announced new plans to keep the brand alive. Sears will shutter another 150 stores, including 108 Kmart locations, and the company will sell its Craftsman tools line to raise some much-needed cash.
Stop the Bleeding
As it stores failed to keep up with modern advances in retail, Sears’ Craftsman tools brand remained one of its lone selling points. That ends today as the company announced it is selling Craftsman to Stanley Black & Decker (SWK - Free Report) for a net present value of nearly $900 million.
Sears also announced this week that it is closing 108 Kmart stores and 42 Sears stores. These specific stores were some of the company’s most non-profitable stores and accounted for an adjusted loss of approximately $60 million over the past 12 months.
Going forward, Sears will most likely look to promote and sustain its stores that are able to be more than just retail outlets; if the company can survive in 2017, it will be because its successful stores are able to be an entertaining destination for its shoppers.
Sears also announced this week that it has entered into another committed secured loan facility worth up to $500 million. The loan comes from ESL Investments, which is a hedge fund managed by Sears CEO Edward Lampert.
Shares of SHLD have lost more than 45% over the last 52 weeks.
Long-Term Buys You Won't See in the News
The stocks you see in today's headlines may not be in the news tomorrow or next week. If you're looking for profitable long-term investments, you may be interested to see what Zacks Research is recommending to our private members. These moves have double and triple-digit profit potential. Starting now, you can look inside our stocks under $10, home run and value stock portfolios, plus more. Want a peek at this exclusive information? Click here>>