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Sears: Companies
built 634 days ago
Initially, both Ward and Sears met stiff resistance from the public, particularly local merchants and their faithful customers, who pointed out that mail-order companies contributed nothing to the community. Sears was scorned as "Shears and Sawbuck" or "Rears and Soreback."
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ShopLocal's customers include Target, Best Buy, Home Depot, CVS and Sears. ShopLocal powers multi-channel shopping for hundreds of newspaper Web sites and other leading local and shopping sites, such as Los Angeles Times, Miami Herald, Arizona Republic, Google and SuperPages.com. ShopLocal is owned by Gannett Co., Inc. GCI, Tribune Company TRB, and The McClatchy Company MNI. For more information, visit http://www.aboutshoplocal.com.
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Under Wednesday’s agreement, which was unanimously approved by both companies’ boards of directors, Kmart shareholders would receive one share of new Sears Holdings stock for each Kmart share. Sears shareholders can choose $50 in cash or half a share of Sears Holdings stock. That portion of the deal values Sears shares at $11 billion, a 10.6 percent premium over its value at Tuesday’s close.
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NEW YORK, Sept 28, 2006 /PRNewswire-FirstCall via COMTEX/ -- Iconix Brand Group Inc., (ICON) ("Iconix" or "the Company") today announced the renewal and expansion of its Joe Boxer license agreement with Sears Holdings. The new agreement will expand the term of the license for three additional years through the end of 2010, restructure the financial guarantee from Sears Holdings for the year 2007, and allow Sears Holdings to sell Joe Boxer products in both its Kmart and Sears stores.
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That solicitation clause left the window open for Sears to reevaluate its offer. On Nov. 19, Sears disclosed that it owned a 13.7% stake in Restoration Hardware, which led investors to believe the Hoffman Estates, Ill-based company planned to challenge Catterton's agreement.
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Dan Laughlin has been named senior vice president of merchandising for Sears Holdings. He will be in charge of leading hardlines across the company's business and will oversee merchandising for Sears' stores.
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