HOFFMANN ESTATES, Ill. — Sears Holding Corp. posted both smaller losses and lower profits than anticipated for the quarter, and announced that it is planning a rights offering for shares in its REIT on Friday. The offering, in preparation for Sears’ projected spinoff of 235 properties, is expected to generate $2.6 billion. Combined with the three deals Sears reached in April to sell or lease back stores to mall operators, the launch will raise more than $3 billion, according to the company.
Sears to offer REIT share rights
Most Recent
Most Read
Hardlines Conference goes west in 2023
Thu, June 30th, 2022
Spectrum Brands sales team sees transitions
Thu, June 30th, 2022
Napoleon CFO promoted to president
Thu, June 30th, 2022
Quebec hardware stores spared inventory glut
Thu, June 30th, 2022
TIMBER MART welcomes B.C. member
Wed, June 29th, 2022
Experts forecast summer drop in lumber prices
Wed, June 29th, 2022
Inflation, housing prices squeeze renovations
Tue, June 28th, 2022
spoga+gafa attendance rebounds
Tue, June 28th, 2022
Featured Classified: Kidde Canada
Tue, June 28th, 2022
Intertape Polymer cleared to go private
Mon, June 27th, 2022