Kmart purchase highlights struggle for once-huge Sears
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Sears, Roebuck and Co. was once on top of the world, reveling in the popularity of its &quot;big book&quot; catalog from company headquarters in the world&#39;s tallest building.
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The sudden merger of Sears and Kmart in an $11 billion deal will create a merchandising behemoth that might hold its own against Wal-Mart and Target.
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Two of the biggest names in the retail world are becoming one. In an announcement Wednesday, Kmart and Sears, Roebuck &amp; Co. have agreed to merge in a deal totalling $11 billion.
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Sears Roebuck and Co. has closed the acquisition of ownership or leasehold interest in 50 stores from Kmart Holding Corp., including one location on Oahu, the Chicago retailer said Wednesday.
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Kmart Holding Corporation, parent company of the discount retail chain, said it had finalized the sale of 50 stores to Sears, Roebuck and Co for 575.9 million dollars in cash.
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When resurgent discount retailer Kmart (Nasdaq: KMRT) branded a new CEO, it was rumored that chairman Edward Lampert might have designs on merging the company with Sears (NYSE
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In the hubbub of Wednesday&#39;s Kmart (nasdaq: KMRT - news - people ) and Sears Roebuck (nyse: S - news - people ) merger stunner, one name has quietly moved to the fore: Edward Lampert, chairman at the Big Red K and a Sears shareholder.
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Wednesday&#39;s announcement that Kmart is acquiring Sears in an $11 billion deal spawned a lot of questions and comments at the Rolla outlets of the two companies.
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New York -- Few things stir the heart of stock investors like a huge merger deal. And last week&#39;s shotgun wedding between Kmart and Sears, two limping retailers, was no exception.
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Kmart Holding Corp. will sell 18 stores to Atlanta-based The Home Depot Inc. for $271 million. Home Depot had previously agreed to buy up to 24 Kmart (Nasdaq: KMRT) stores for a price of up to $365 million.
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Kmart (KMRT) has just pulled the rough equivalent of a refrigerator out of its hat. Make that a Kenmore brand refrigerator from Sears (S).
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The discount retailer Kmart Holding Corp. is combining with one of the most venerable names in US retailing, Sears, Roebuck &amp; Co.
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What will happen to Grass Valley&#39;s Kmart and Sears stores remains to be seen after their parent firms announced a merger Wednesday.
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Some employees who stand to lose their jobs when Kmart Holding Corp. sells off stores to Home Depot and Sears may get some help when new store owners take over, company spokesmen said Monday.
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Alan J. Lacy will not be the top man at Sears, Roebuck &amp; Company any longer if the announced merger with Kmart is completed. But he will receive a raise and could take out more than $20 million by cashing out his existing options on Sears stock.
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Sears and Kmart are planning to merge. With the merge, they will become the third largest US retailer, with combined revenue of $55B and more than 3,500 store locations.
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Kmart Holding Corp. posted its fourth straight quarterly profit on Wednesday as the discount retailer and Sears, Roebuck and Co. announced an &#36;11 billion merger.