Response to Wall Street Journal

The Wall Street Journal suggests that there is something wrong with Sears Holdings offering to pay a vendor earlier than the Journal thinks is typical for retailers. But why would that be a bad thing if we can afford to do so and we get a discount or other benefit from doing it … Continue Reading »

Defining ‘Cash Flow’ Burn

As is typical in the retail industry, Sears Holdings’ operating cash flows mainly consist of net income, changes in net inventory (inventory less payables) and capital expenditures. This, along with uses of cash to repay our debt obligations (including interest) and to honor our legacy pension commitments, constitute the vast majority of total cash flows. While our recent operating results have generated negative cash flows, we want to clarify the facts around our sources and uses of cash, as … Continue Reading »

Sears Holdings Provides Update

On November 7, 2014, we filed an 8-K with the Securities and Exchange Commission (“SEC”) in connection with our rights offering for up to $625 million of Senior Unsecured Notes with Warrants. We encourage investors to read the Form 8-K in its entirety, including the cautionary language regarding forward looking statements contained in the filing, because it includes information which may be important to investors. You can find the filing on www.sec.gov at the following link. Below is some … Continue Reading »