As retailers struggle to fill jobs, a new report from the Associated Press suggests some retailers are raising wages and hoping for more efficient employees. The report says retail workers have seen some of the economy’s best wage gains in …
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Sears Chairman Proposes $4.4B Offer to Buy Company
Sears will possibly avoid company liquidation because Sears chairman Edward Lampert proposed to purchase the company for $4.4 billion, according to a report from CNBC. The proposal was formally submitted through an affiliate of ESL Investments, the hedge fund Lampert …
Read More »Lowe’s Outlines Transformation, Opens New Fulfillment Center
While meeting with analysts and investors, Lowe’s is solidifying its company priorities and financial goals, the company states in a press release. Describing a “complex retail environment,” Lowe’s president and CEO Marvin R. Ellison says the company is taking steps …
Read More »Former CEO Makes $4.6B Bid to Save Sears
ESL Investments, the hedge fund managed by former Sears CEO and current chairman Edward Lampert, has presented a plan to keep the company in business and save about 50,000 jobs, the Chicago Tribune reports. The bid “includes about 500 Sears …
Read More »Lowe’s Ends Smart Home, Renovation Partnerships
Lowe’s has decided to end its separate initiatives with Alacrity Renovation Services and Iris Smart Home, the company announced in its third-quarter financial report. The company described both endeavors as “non-core activities within its U.S. home improvement business,” and said …
Read More »Lowe’s Reports Q3 Financials; Plans to Exit Mexico
In its third-quarter financial results, big-box home improvement retailer Lowe’s reported net earnings of $629 million. The company also announced plans to “exit its Mexico retail operations,” according to a press release. In the second-quarter of 2018, the company reported …
Read More »Home Depot Announces Q3 2018 Financial Results
Home Depot has announced its third-quarter 2018 financial results. In total, the company reported sales of $26.3 billion, which represents a 5.1 percent increase from the same period in 2017. Comparable sales for the third quarter in the U.S. were …
Read More »Lowe’s Plans to Close 51 Stores, Names New CIO
Lowe’s has announced it plans to close 51 “underperforming store locations as part of its ongoing strategic reassessment,” the company reported in a press release. Twenty of those locations will be in the U.S., and 31 will be in Canada, …
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