News
Sears Considers Selling Its Best Known Brands As The Company Flounders
After losing more than $8B in the past five years and watching its stock fall from over $100/share to just above $13, Sears says it’s considering selling its top brands.
That means Kenmore appliance, DieHard battery and the Craftsman tool brand may all be available to the highest bidder.
“They have been in a desperate state for a number of years,” says Matt McGinley from Evercore ISI. He says Sears’ asset sales have been made from a position of weakness for the last three to four years, and done mainly to simply fund operating losses, Bloomberg reports.
Sears has suffered along with other retailers as the shopping ecosystem shifts, but Sears is worse off than most. [Bloomberg]
