The ‘other Sears’ is being dragged down by the Sears Holdings bankruptcy
January 15, 2019
The Sears Hometown and Outlet chain was spun off from Sears Holdings with the strategy of distancing itself just enough from the latter to make its own way. As Sears Holdings slid toward bankruptcy, Sears Hometown’s management hoped it would in fact prosper as a result. But no dice. Shares of Sears Hometown and Outlet have lost more than 90 percent of their value since it went public in 2012, taking another steep dive since the Sears Holdings bankruptcy. Last month, the chain announced it would close as many of 100 of its 750 stores to reduce its debt.
Recent News
Tesla Recalls Cybertruck Due to Stuck Accelerator Pedal
Tesla is recalling almost 4,000 Cybertrucks due to a sticking accelerator pedal. The problem stems from an unauthorized lubricant used during assembly, which reduces the pad’s grip on the pedal.
Trader Joe’s Recalls Organic Basil Product Linked to Salmonella Outbreak
The company’s Infinite Herbs Organic Basil product is recalled due to a possible salmonella contamination.
Procter & Gamble Reports Mixed Results After Price Hikes
Procter & Gamble’s recent quarterly results showed a mix of gains and setbacks. Despite facing challenges in attracting shoppers due to increased prices over the past two years, the company managed to exceed earnings expectations.
JetBlue and Southwest Airlines Collision Narrowly Avoided at Reagan National Airport
An air traffic controller instructed one plane to cross the runway at the same time a second plane was taking off.