77
Fashion Jobs
BEIERSDORF
Sales Representative North Greece (Based in Thessaloniki)
Permanent · ATHENS
FOOT LOCKER
Συνεργάτης Πωλήσεων
Permanent · THESSALONIKI
L'OREAL GROUP
Senior Product Manager Maybelline – Consumer Products Division
Permanent · NEA IONIA
CLINIQUE
Consumer Marketing Manager, Clinique
Permanent · ATHENS
LA MER
Consumer Marketing Executive, LA Mer
Permanent · ATHENS
TOM FORD
Consumer Marketing Manager Tom Ford
Permanent · ATHENS
L'OREAL GROUP
Beauty Advisor
Permanent · THESSALONIKI
L'OREAL GROUP
Nyx pm Beauty Advisor (Attiki)
Permanent · ATHENS
H&M
Σύμβουλος Πωλήσεων - Μερική Απασχόληση
Permanent · CHALANDRI
ESTÉE LAUDER COMPANIES
Fixed Assets & Decorations Supervisor
Permanent · ATHENS
SEPHORA
Accounting
Permanent · ATHENS
SEPHORA
Category Specialist
Permanent · ATHENS
H&M
Σύμβουλος Πωλήσεων (Mare West) - Μερική Απασχόληση
Permanent ·
H&M
Σύμβουλος Πωλήσεων - Μερική Απασχόληση
Permanent · PIRAEUS
H&M
Hiring Day Chania - Sales Advisors
Permanent · CHANIA
MAD LORDS
Sales Assistant Scorpios Mykonos
Fixed-term · MYKONOS
FOOT LOCKER
Συνεργάτης Πωλήσεων
Permanent · MAROUSI
FOOT LOCKER
Συνεργάτης Πωλήσεων
Permanent · ATHENS
H&M
Σύμβουλος Πωλήσεων (Metro Mall) - Μερική Απασχόληση
Permanent · AGIOS DIMITRIOS
H&M
Σύμβουλος Πωλήσεων - Μερική Απασχόληση
Permanent · KALAMATA
H&M
Σύμβουλος Πωλήσεων - Μερική Απασχόληση
Permanent · NEA IONIA
GUESS
Sales Advisor (Greece)
Permanent · ATHENS
By
Reuters
Published
May 31, 2018
Reading time
2 minutes
Download
Download the article
Print
Text size

Sears to close 72 more stores, sales fall

By
Reuters
Published
May 31, 2018

Sears Holdings Corp , the one-time American retail giant, said on Thursday it plans to shutter another 72 locations to stem losses in the face of deepening financial distress and reported a nearly 12 percent drop in quarterly comparable-store sales.


Photo: Sears/ Instagram


The department store operator has been trying to transform its business as foot traffic at brick-and-mortar stores declines and online shopping gains popularity. Its chief executive, billionaire Eddie Lampert, has said the company should sell its well-known appliance brand Kenmore, home improvement businesses and real estate, and that his hedge fund ESL Investments Inc would bid for them.

Such a deal would infuse the debt-laden company, which also runs Kmart discount stores, with at least $500 million (376.2 million pounds) cash, helping it remain in business. The company last year said there were doubts about its ability to continue as a going concern.

To stem losses, Sears has closed nearly 400 stores since last year, leaving 894 stores still open as of May 5.

"While we had a challenging first quarter, we remain focused on improving our financial performance and enhancing our liquidity," Lampert said in a prepared statement.

Sears shares, which have lost nearly all of their value in the last five years, were down almost 10 percent at $2.90 in mid-day trading. Lampert and his hedge fund own nearly half of the shares.

Earlier in May, Sears formed a special committee to explore the sale of Kenmore and divisions of its home services business, the same assets Lampert said he was interested in buying.

Sears has tried to sell those brands and businesses before. Last year, it sold its Craftsman tools brand to Stanley Black & Decker Inc for $900 million.

The net loss attributable to the company was $424 million, or $3.93 per share, in its fiscal first quarter, ended May 5, compared with a profit of $245 million, or $2.29 per share, a year earlier. The results from the year-ago quarter included a $492 million benefit related to the sale of Craftsman.

Revenue fell 31.2 percent to $2.89 billion in the reported quarter, partly because of store closures.

"Continued efforts to enhance liquidity will be necessary to fund its ongoing operating losses," said Moody's Vice President Christina Boni.

© Thomson Reuters 2024 All rights reserved.