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SEARS HOLDINGS CORP

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2018 10-Q, filed Dec 13, 2018. Its latest SEC filing is a CT ORDER from Jun 29, 2022.

The sections below describe the company as of the FY2017 annual report.

What Did They Do?

Sells appliances, household goods and apparel, and provides repair services to consumers and commercial customers through Sears and Kmart stores and websites.

How Did They Make Money?

Customers pay for merchandise when they buy it in a store or when it is delivered to them; they pay for repairs and installation when the service is provided. Service contracts are paid over their contract lives, and financial institutions pay the company for new card accounts, card sales and sales of other financial products.

FY2017 revenue

Who Were Their Customers?

Consumers buy merchandise in Sears and Kmart stores and websites, with options such as store pickup and home delivery. Home builders, property managers and other commercial and residential customers buy appliances, parts, repair services and home services; some business-to-business sales are made through Kenmore Direct and Monark Premium Appliance Co.

Did Revenues Turn Into Profits?

No. It lost $383M in FY2017.

Operating income, FY2017
−3% of revenue
▼ −78% (Loss) vs FY2016 (−$2B, −9%)
Net income, FY2017
−2% of revenue
▼ −83% (Loss) vs FY2016 (−$2.2B, −10%)
Free cash flow, FY2017
−12% of revenue
▲ +26% (Loss) vs FY2016 (−$1.5B, −7%)

How Were They Changing?

Since the FY2017 annual report
Latest quarter: Q3 FY2018, the three months to Nov 3, 2018
Revenue
▼ −23%
vs $3.6B in Q3 FY2017
Net income
▲ +71% (Loss)
vs −$556M in Q3 FY2017
  • Jan 31, 2020 Sears Holdings and Transform settled disputes over the asset purchase agreement Transform will retain certain liabilities assumed under the agreement, and Sears Holdings will receive additional payments.
  • Oct 21, 2019 The court confirmed a plan to wind down the debtors’ estates
  • Jul 3, 2019 Transform completed the purchase of substantially all go-forward retail assets The sale covered the go-forward retail footprint and other assets and component businesses as a going concern.

Shrank. Revenue fell 54% in 4 years, from $36.2B in FY2013 to $16.7B in FY2017, about 18% a year.

Who Did They Compete With?

Competes with Walmart, Target, Kohl's, J.C. Penney, Macy's, The Home Depot, Lowe's, Best Buy, and Amazon

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