I got the anthology a little while ago and had a nightmare first time i installed it. Partly the key issue, as it was saying i hadnt bought the normal game even though both keys were entered in. But it sorted eventually. But the patching was a pain.

(but more because the hard drive space was starting to get a bit thin on the ground needed to delete another 10 gigs worth of stuff, cos i think before it writes over the other stuff it creates the new stuff also.) however. When i did a reinstall on a new hard drive owhen i upgraded system a bit and added a new graphics card, after a fresh windows install it was a much simpler affair, and worked no bother for patching etc. Very different experience alltogether!

By Chicago Tribune December 13, 2017 Sears Holdings gained some breathing room amid the critical year-end shopping season with a pair of deals the struggling Hoffman Estates-based retailer said will give it more financial flexibility. Sears paid down $325 million on a loan originally due midway through next year and entered into an agreement that gives it an extension to repay the remaining $400 million due, the company said Tuesday. That loan now matures in January 2019 but could be extended another six months. The company also said it plans to get a new credit facility worth about $600 million, linked to a previously announced deal struck last month with the Pension Benefit Guaranty Corp., a federal agency that guarantees individuals' pension plans.

The agreement allows Sears to sell up to 138 properties to finance a $407 million contribution to its pension plans. The company said it expects to use those properties to secure the credit, which it will repay over time by selling the real estate. 'The extension of the Term Loan improves our short-term debt maturity profile, while the credit facility associated with the PBGC agreement will support our continued commitment to the Company's pension plans while enhancing our financial flexibility,' Rob Riecker, Sears Holdings' chief financial officer, said in a news release. 'Looking ahead, we continue to explore alternatives with respect to our debt maturities to meaningfully reduce cash interest payments and provide the Company greater flexibility.' Before the company's Tuesday announcement, Sears had $1.4 billion in debt due in 2018, according to a Fitch Ratings report from earlier this month, which included Sears on a list of companies with a 'material likelihood of defaulting.' The ratings agency estimated Sears needs $1.75 billion to $2 billion each year to fund operations. Sears has sought cash infusions from the sale of assets, including stores and its Craftsman tools brand, and loans from CEO Edward Lampert and affiliates of his hedge fund.

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But in the past couple of years, the retailer has not had such significant debts to address as well, David Silverman, a senior director at Fitch covering retail companies, said prior to Sears' Tuesday announcement. Sears could not immediately comment on how much debt remains due in 2018. By Al Urbanski Chain Store Age December 12, 2017 On Friday, Frank Lowy, received a knighthood from Queen Elizabeth at Windsor Castle. Today, a company from across the Channel ended his 60-year career as an international mall developer with a multi-billion-dollar sendoff.

France's Unibail-Rodamco will pay $15.7 billion to take over Lowy's Australia-based Westfield Corp., creating a global property leader with a gross market value of $72 billion and a presence in 27 of the world's 'most attractive' cities and retail markets, according to a Westfield press release. The newly formed company's 104 retail assets attract some 1.2 billion visits a year in Europe and the United States. Fifty-six of the malls, considered to be flagship destinations in their markets, account for 84% of the GMV. Properties include the Westfield World Trade Center in lower Manhattan.

It is also the developer behind the Century City shopping center on the west side of Los Angeles. 'The transaction announced today is the culmination of the strategic journey Westfield has been on since its 2014 restructure,' Lowy, chairman of the Westfield board, said. 'Unibail-Rodamco's track record makes it the natural home for the legacy of Westfield's brand and business.' The mall group will operate as a REIT in France, the Netherlands, the United Kingdom, and the United States. Its operations will employ 3,700 people. 'We believe that this transaction represents a compelling opportunity for both companies to realize benefits not available to each company on a standalone basis, and creates a strong and attractive platform for future growth,' commented Christophe Cuvillier, CEO of Unibail-Rodamco. Lowy was just 25 when he and fellow Hungarian emigre John Saunders formed a partnership that evolved into one of the world's biggest developers of retail centers.

Just four years later, they listed Westfield on the Sydney Stock Exchange and touched off its international expansion. By CSA Staff Chain Store Age December 8, 2017 The man who grew Macy's into a retail giant is officially leaving the building. Macy's on late Friday announced that Terry Lundgren will retire as executive chairman, effective Jan.

Jeff Gennette, who suceeded Lundgren as CEO in March 2017, was named to the additional role of chairman, effective Jan. Following Lundgren's retirement, the board will have 10 directors. 'I am proud of our company's growth, accomplishments and the talent we developed during the 14 years I have led Macy's, Inc.,' Lundgren said.

'I have worked closely with Jeff and his team over the past two years, focusing on the changes and vision required for future success.' In his statement, Lundgren expressed confidence that that the company 'has the strategies, resources, talent and leadership to capitalize on the fundamental shifts in consumer shopping patterns we have all experienced.' He also expressed confidence in Macy's new CEO.

'I continue to be impressed with Jeff's leadership, his decisiveness and his engagement with all levels of our outstanding organization,' Lundgren said. Lundgren served as CEO of Macy's from 2003 until his retirement early this year. By Jeremy Bowman The Motley Fool December 7, 2017 What happened Shares of Sears Holdings (NASDAQ: SHLD) were surging this morning after an investor sent an open letter to the retailer's board, calling for the company to go private and for an investigation into recent short-selling.

As a result, Sears shares were up 8% as of 11:16 a.m. So what Memento, a value-investing group owned by the Swiss-based Spadone family with 2 million shares in Sears, sent the letter this morning, arguing that excessive short interest has restricted the stock's float, making it difficult to buy shares, which it believes has been a primary cause of the stock's volatility over the last two years and has pressured the stock lower. It asked the board to investigate the short-selling activity, called for a temporary halt in short sales, and also said the company should evaluate strategic alternatives, including going private.

Now what The idea of going private seems to be the biggest boon for Sears' shareholders -- CEO Eddie Lampert, who is already the company's largest shareholder and has his own hedge fund, ESL Investments, could take the company private if he wanted to, especially now that Sears' market cap is less than $500 million. Instead, Lampert seems to be positioning himself to capitalize on Sears' assets in a bankruptcy by making loans to the company and spinning off 241 stores into Seritage Growth Properties (NYSE: SRG), a Real Estate Investment Trust. Going private would alleviate many of Sears' problems, including Lampert's war with the media, damage to the company's reputation from its publicly reported losses, and the rampant short-selling. It would also improve the company's image and likely gain it credibility with suppliers who have been abandoning it as Lampert, or another buyer, would be putting his full faith behind the company. Sears has not yet responded to the letter.

While Memento's argument doesn't help the underlying business, the notion of the company going private should put a floor on the stock for the time being. By Elephant Analytics Seeking Alpha December 6, 2017 Sears Holdings reported Q3 2017 earnings that were in-line with its earlier comments about the quarter. Sears's comparable store sales fell by 15.3%, while its adjusted EBITDA came in at negative $275 million. While the adjusted EBITDA is actually an improvement versus Q3 2017, I don't see any good reason to believe that Sears can stanch its cash burn without fixing its comps.

Sears Holdings has had declining comps since the Kmart merger over a decade ago, but its recent performance has become particularly poor. Q3 2017 Performance Sears's adjusted EBITDA of negative $275 million was a $100 million improvement compared to Q3 2016. This improvement is less than the $124 million year-over-year improvement in Q2 2017 though, and is likely to continue diminishing due to the substantial declines in comparable store sales. It is also notable in that Sears went from positive adjusted EBITDA in July 2017 to negative $275 million in Q3 2017, indicating how it is difficult to sustain any positive financial performance while comps are declining by double-digits.

While total sales declined by $1.369 billion from Q3 2016 to Q3 2017, around $471 million of that was attributed to comparable store sales decline, ostensibly making the remaining $898 million decline due to store closures. At just over 20% gross margins, the store closures would result in $182 million in gross margin decline, compared to $335 million in adjusted SG&A savings vs. I would therefore say that the $1.25+ billion in annualized cost savings is probably more like $600 million net of the gross margin decline caused by closing stores.

Thus Sears would still be at negative adjusted EBITDA in 2018 without any comps declines and if -15% or worse comps continue, it may approach negative $1 billion adjusted EBITDA in 2018 without additional cost cutting. Positive Adjusted EBITDA Remains Elusive Sears's chances of achieving its goal of positive adjusted EBITDA in 2018 appears very minimal. There does not appear to be a viable path to achieve that unless comparable store sales start increasing (without the sacrifice of gross margins). However, Sears's comps trends have been worsening and it hasn't posted positive full year comps in over a decade.

Reports have indicated that Sears is offering major discounts for the holidays, which could help comps. However, margins are likely to fall as a result, and the overall effect on Sears's EBITDA would probably end up being negative. The main benefit to Sears would be further clearing out its inventory.

Sears has talked about becoming profitable in the past, but has made limited progress to actually reach its goals. For example, in Q3 2014, Sears Holdings mentioned that it remained intently focused on 'above all, returning Sears Holdings to profitability'. Sears Holdings delivered negative $296 million in adjusted EBITDA in that quarter. Three years later, Sears Holdings recorded negative $275 million in adjusted EBITDA, indicating minimal progress over those three years. As well, Sears has talked about improvements in adjusted EBITDA trends before, but has not been able to consistently sustain those improvements. For example, Sears touted that it had shown year-over-year adjusted EBITDA improvement in five consecutive quarters as of Q3 2015.

It then showed adjusted EBITDA improvement in only three of the following six quarters before embarking on its most recent cost cutting program. Service Revenues Continue To Decline With Sears's hardline revenues declining at a rapid rate, services revenues have also been heavily affected.

Sears's hardline revenues (Q3 2017 versus Q3 2016) fell 27%, in-line with Sears's total revenue decline. Service revenues were down 19%, which is 8% better than hardlines. This is roughly in-line with my previous +7% estimate (services versus hardlines). Service revenues are likely to continue to decline significantly, although at a less rapid rate than the rest of Sears's business. Small Format Stores Sears is experimenting with smaller format stores such as DieHard Auto Centers and Sears Appliances And Mattresses stores.

The smaller store format does make sense and Sears still has a significant amount of appliance sales, so the idea is a positive one. However, the challenge for Sears is that it doesn't have the cash to invest in large scale rollouts of small format stores, and a handful of new small stores will have a negligible financial impact on a company the size of Sears. For example, the four Sears Appliances And Mattresses stores combined are around 58k square feet, ranging from around 10,000 square feet to 20,000 square feet each. Even if those stores do very favorable numbers such as $500 per square foot in sales, that results in $29 million per year in combined revenue for the four stores along with $2.9 million EBITDA at an also favorable 10% EBITDA margin. Given Sears's ability to deliver negative $800 million EBITDA per year, this amount makes little difference.

If Sears could open hundreds of stores with those metrics, then the impact would be meaningful. However, it may also cost Sears $5 million in capital expenditures (actual numbers may vary considerably, but this is roughly based on Seritage's renovation costs) to open five smaller format stores. Sears isn't in the financial position at this point to be able to invest hundreds of millions to open new stores. Real Estate A rough calculation indicates that Sears may have close to $2 billion in real estate assets remaining. I will likely go into detail about that in a future article.

However, a fair number of Sears's remaining properties are collateral for its secured debt, even after Sears entered into an agreement with the Pension Benefit Guaranty Corporation to release 140 properties from the ring-fence arrangement. If Sears decides to sell most of its remaining real estate and closes a large number of stores, I can see it potentially raising enough funds to last until 2019. Survival until 2019 would also likely require Lampert to extend the maturities on his 2018 debt maturities. Sears may have a challenging time selling portions of its remaining real estate though, since it looks like there are a lot of lower-tier properties remaining. Those properties do have value (even if it is only low-single digit millions per property), but it is more of a buyers' market for lower-tier properties, and Sears likely needs to raise a significant amount of money fairly quickly.

Conclusion Sears's Q3 2017 earnings report did show some year-over-year improvement in adjusted EBITDA, but with comparable store sales declining rapidly, it remains very unlikely that Sears can make it back to full year positive adjusted EBITDA. Sears likely needs to continue closing stores and cost cutting to avoid adjusted EBITDA worsening again and approaching negative $1 billion.

I continue to believe that there is a high likelihood that Sears will file for bankruptcy in 2018, although I will not entirely rule out it surviving into 2019. If it sells most of the rest of its real estate and closes a large amount of stores (similar to 2017), there is a path for Sears to survive another year.

That would leave Sears rather bereft of assets though. I wrote this article myself, and it expresses my own opinions.

I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. By Marianne Wilson Chain Store Age December 4, 2017 It really is-or should be-all about the customer. Customer-centricity ranked as the top strategic initiative in a new report from BRP.

According to the report, retailers must accommodate customers who 'pre-shop' for merchandise online before they ever enter a store, want one-day or even same-day delivery, and expect 'more' from their shopping experience - more personalization, a larger assortment, a more fulfilling experience and non-stop entertainment. Customer-led demand is driving retailers to transform their business to be more customer-centric. 'Customers use technology daily to enable and control their shopping journey,' said Gene Bornac, senior VP at BRP. 'Now it is up to retailers to play catch up with their organization, processes and technology to deliver the right products for the right price in the right place.'

According to BRP's 2017 Merchandise Planning Benchmark Survey, it is imperative that retailers take a customer-centric viewpoint. 'To innovate the customer experience, they must transform their disparate systems, processes and organization into one cohesive environment with the ability to offer customers a seamless shopping environment across any channel and the capability to deliver merchandise immediately - wherever it is needed,' the reported stated. 'It is time to prepare for the future of retail - it is here - whether we are ready or not,' the report stated. By Adam Levine-Weinberg The Motley Fool December 2, 2017 Sears' third-quarter earnings report wasn't nearly as positive for the company as management wants investors to believe. On Thursday, Sears Holdings released another dreadful quarterly earnings report. Revenue plunged 27.2% to $3.66 billion, driven by a massive number of store closures and a 15.3% comp sales decline.

Sears Holdings stock still rose, as management said it had completed a $1.25 billion cost-cutting initiative ahead of schedule, leading to some modest earnings improvement. However, without a turnaround in its sales performance, Sears has virtually no chance of surviving more than another year or two. Sears finally reports some earnings improvement In the first quarter of fiscal 2017, Sears Holdings reported further deterioration in its profitability, due to a double-digit comp sales decline and margin erosion.

In response, the company raised its cost-cutting targets. As a result, adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) improved by $124 million in Q2, although that still left it in negative territory. Last quarter, adjusted EBITDA improved again relative to the prior-year period, this time by $100 million. (Adjusted EBITDA was still deeply negative at -$275 million.) Sears Holdings' net loss also decreased by nearly $200 million, although that was driven by higher asset sale gains last quarter. Sears Holdings' management held up this second consecutive quarter of adjusted EBITDA improvement as a sign that the cost-cutting campaign is working. In fact, CEO Eddie Lampert vowed that adjusted EBITDA would turn positive in 2018.

Breakeven is nowhere in sight Taking a deeper look at Sears Holdings' results, Lampert's bold prediction looks like hot air. After all, Sears already captured most of the benefits of its cost-cutting plan in its third-quarter results, yet adjusted EBITDA was still deeply negative. Furthermore, Sears may be unable to maintain its recent pace of earnings improvement. In the fourth quarter of 2016, adjusted EBITDA improved by $76 million year over year, compared to a $48 million decline in the first nine months of last year.

As a result, the company faces a tougher year-over-year comparison this quarter. Assuming Sears posts a smaller improvement in adjusted EBITDA for the fourth quarter, its full-year adjusted EBITDA loss will come to approximately $600 million. That's a long way from positive territory. In fact, for adjusted EBITDA to turn positive in 2018, the pace of improvement would have to accelerate relative to Q3, even though Sears was already benefiting from most of its 2017 cost cuts then. If sales continue to erode rapidly, it won't take long for the recent trend of earnings improvement to peter out -- unless management finds another $1 billion of cost cuts. The bottom line is that without meaningful sales improvement, cost-cutting can only provide a modest, short-term boost to earnings.

A liquidity crunch is on the horizon The most damning part of Sears Holdings' Q3 earnings report was the cash flow statement. In the first nine months of fiscal 2017, operating cash flow fell approximately $500 million deeper into negative territory, reaching -$1.9 billion.

Sears has only kept the lights on by selling roughly $1.5 billion of assets, mainly consisting of real estate and the storied Craftsman brand. There's no reason to believe Sears Holdings will have it any easier in 2018. Furthermore, despite some recent attempts to reduce its near-term debt maturities, Sears still has about $400 million due on a term loan maturing in June 2018, and another $303 million of debt maturing in October. To help meet its obligations, Sears Holdings recently negotiated an agreement with the Pension Benefit Guaranty Corporation that will allow it to sell 138 more properties (roughly half of its remaining owned stores). But in return, the company must contribute a total of $464 million to its pension plans between now and the middle of next year.

The net result is that Sears has bought itself some breathing room. However, after deducting the pension contributions and the payments on the company's expiring term loan, the proceeds from selling this real estate won't even get Sears through the end of next year. In short, Sears Holdings is at risk of running out of cash next fall, just as its $303 million debt payment is due -- and just when it needs extra liquidity so it can stock up for the holidays. Barring a miraculous sales turnaround that would drive a sustainable uptick in earnings, the clock may be running out for this troubled retail giant. By Marianne Wilson Chain Store Age December 1, 2017 Sears Holdings Corp. Reduced its third quarter loss by $190 million helped by lower operating costs from its reduced store portfolio, but it saw no improvement on the revenue side as same-store sales plunged 15.3%.

Sears reported a net loss of $558 million ($5. Buffalo Linkstation Install Optware Kong. 19 loss per diluted share) for the quarter ended Oct. 28, compared to a net loss of $748 million ($6.99 loss per diluted share) in the year-ago period. Revenue fell 27% to $3.66 billion, with store closures contributing to over half of the decline, the company said. Revenues were also negatively impacted by reductions in the number of pharmacies in open Kmart stores, and the reduction in consumer electronics assortments in both Kmart and Sears stores. Same-store sales declined 15.3% during the quarter. Kmart comparable sales decreased 13.0%, while Sears comparable store sales declined 17.0%. Neil Saunders, managing director, Global Data Retail, said he saw nothing to celebrate in Sears' third quarter performance despite the improvements in its bottom line.

'Much has been made of the improvement to the bottom line,' Saunders commented. 'In our view, these warm words - a bromide which has been trotted out at every results announcement for years - do not stack up against reality. It is true that losses have narrowed, but Sears was still in the red by well over half a billion dollars during the quarter.' Saunders said he saw no chance of Sears' sales losses leveling off anytime soon.

'The dramatic loss of customers at existing stores continues apace, and we believe that there is a danger this trend could accelerate into the new year,' he said. Adjusted EBITDA improved $100 million to $275 million in quarter of 2017, from $375 million in the prior year third quarter.

It was the second consecutive quarter of at least $100 million improvement in adjusted EBITDA as the restructuring actions taken in the first three quarters of 2017 have resulted in meaningful year-over-year improvement, Sears said. Going forward, Sears said it will continue to maintain 'extreme cost discipline,' and continue to diversify revenue streams through third-party partnerships in several of its businesses including Sears Home Services, Innovel, Kenmore and DieHard. It also plans to build on the 'momentum' around its dedicated concept format, such its Sears Appliances and Mattress stores. Sears' third quarter results were in line with its earlier forecast released in October. In that release, the retailer said it had entered into a deal with the Pension Benefit Guaranty Corp. Over its pension obligations, clearing the way for the company to sell 138 additional properties. 'Once complete, the estimated contributions of $550 million to the pension plans in 2018 and 2019 is eliminated (with the exception of a $20 million payment in July of 2018),' Sears CFO Rob Riecker stated Thursday.

'Additionally we will be taking action in the near term with respect to certain upcoming debt maturities to provide the company with further financial flexibility and enhanced liquidity.” In a statement, Sears Holdings chairman and CEO Edward Lampert focused on the company's positive developments. 'In the third quarter, we continued to narrow our losses and delivered another quarter of adjusted EBITDA improvement of at least $100 million,' said Sears Holdings chairman and CEO Edward Lampert. 'With the challenging retail landscape continuing to pressure sales, the improvement in adjusted EBITDA is reflective of the success of the strategic priorities we outlined earlier this year to streamline our operations, reduce inventory and minimize operating expenses, as well as our commitment to our goal of restoring positive adjusted EBITDA in 2018.”.

The Wall Street Journal December 1, 2017 Sears Holdings Corp.' S finance chief said a reduced footprint and specialized stores selling mattresses, appliances and car services will help the struggling retailer get back on track after years of sales declines at its namesake department stores. Though Sears has closed hundreds of locations in recent years, Chief Financial Officer Rob Riecker said it has had success with newly opened Sears Appliance & Mattress stores, which focus on two of the company's strongest categories while leaving out clothing departments. Riecker said the retailer added appliance and mattress stores in Pennsylvania and Hawaii after opening locations in Colorado and Texas earlier this year. It also recently opened two DieHard Auto Centers.

Sales at existing Sears stores in the U.S. Sank 17% in the third quarter compared with a year earlier; the metric has declined every quarter for the past three years. Sales at the company's existing Kmart stores fell 13%. By Neil Saunders Chain Store Age November 30, 2017 Dire, dismal, terrible, horrendous, grim, appalling - over the past few years we've used up our stock of adjectives to describe Sears results. As the descriptors run dry, so the bad numbers keep on coming. This quarter is no exception.

It is particularly worrying that the strength of declines across all parts of the business is intensifying. In this period, total sales were down by just over 27%. To be fair, more than half of this is attributable to ongoing store closures. However, that program does not explain the slump in comparable sales which were down by 17% and 13% at Sears and Kmart, respectively. In essence, the whole group remains in a tailspin, and it is clear that there is no chance of even a leveling-off in sales anytime soon. The dramatic loss of customers at existing stores continues apace, and we believe that there is a danger this trend could accelerate into the new year.

Much has been made of the improvement to the bottom line. In our view, these warm words - a bromide which has been trotted out at every results announcement for years - do not stack up against reality.

It is true that losses have narrowed, but Sears was still in the red by well over half a billion dollars during the quarter. By no means is this a cause for celebration. One small bright spot comes from the agreement with the Pension Benefit Guaranty Corporation. Under this plan, Sears will make an upfront payment into the pension scheme, secured by real estate assets. This will eliminate contributions, which were required in both 2018 and 2019. This will certainly take some pressure off the bottom line in those years, although we caution that it does very little to fix the fundamental issues with the business. The extent of Sears' woes is best seen through the growing gap between its assets and its liabilities.

Last year this deficit was around $3.4 billion; this year it has grown to just over $4 billion. Given that the group has been selling off assets to fund current operations, this is not particularly surprising. However, the continued growth of the deficit, at a time when the group is deeply unprofitable, simply isn't sustainable. For all the criticism we throw at Sears, it is only fair to give praise to the initiatives the group is taking to try and bring itself back. While we do not have much faith that these things will be sufficient to revive the company's fortunes, it does not mean to say that they are entirely without merit. The first of these is the relatively recent decision to sell some Kenmore branded appliances on Amazon.

This is a sensible move which should strengthen sales volumes which, in turn, should support the inherent brand value of Kenmore. Arguably, without seeking out alternative distribution channels, Sears' brands are ultimately in danger of fading into obscurity. However, this move is also a tacit admission that its stores are simply not working effectively as a distribution channel for its own brands. The second interesting move was the whole store sale that the group initiated before Black Friday. While this was probably borne out of desperation, it did help to drive footfall and interest across many stores. Unfortunately, such a strategy is not sustainable on a permanent basis - but it can be used to give sales and cash-flow a short-term boost.

Ultimately, we still believe that Sears is a dying business. Whichever way you cut them, the fundamental economics of the business do not add up. Nothing in this latest set of results changes our view. By Suzanne Kapner & Laura Stevens The Wall Street Journal November 25, 2017 After a year of struggling to keep up with consumers' shift to e-commerce, many retailers found themselves in unexpectedly good shape on Black Friday with pared-down inventories and less need to slash prices to lure shoppers. Black Friday sales are expected to come in at around $33 billion, according to Customer Growth Partners, a market research and analysis firm, representing a 4.8% advance over Black Friday last year.

Sales for November and December are expected to climb by about 4% to some $682 billion, which would make 2017 the strongest holiday season since 2014, according to the National Retail Federation. Chief Executive Jeff Gennette said the retailer had made adjustments based on years past and was well positioned for the shopping bonanza. 'We don't have the albatross of a lot of extra inventory like we did last year,' he said.

Macy's is offering fewer promotions, Mr. Gennette said. 'We're in good shape,' he added, but cautioned, 'we've still got five weeks ahead of us' until Christmas. The average Black Friday advertised discount across 17 categories was 45% this year compared with 48% last year, according to price-tracking firm Market Track LLC.

Only three of eight major retailers offered deeper discounts than they did a year ago, the firm said. That isn't to say deals were hard to find. On Friday, shoppers found many of the same promotions that were on offer last year, including 30% off at Coach and 50% off at the Gap. Many shoppers snapped up bargains on Thanksgiving Day. Kevin Krause, 27, was first in line outside the Kohl's store in Medford, Ore., on Thanksgiving afternoon.

He decided to buy an Xbox One videogame console that was on sale for $189. 'I'm just doing that, and then I'm out,' he said. Analysts have been predicting robust holiday sales amid rising wages, low unemployment and strong consumer confidence. Another bonus, especially in the Northeast, is cooler weather compared with a year ago, when temperatures edged into the 60s. 'I'd be fully expecting people to be thinking about spending more, not be holding back as much as in the past,' said Andrew Duguay, a senior economist at Prevedere, a predictive analytics company. Jena Thomas, a university student shopping with her mother at a Target in Chicago, bought two TVs that she couldn't get earlier at Best Buy.

She also splurged on a PlayStation 4 console and videogames. 'I caught up with all my Christmas shopping,' she said. Traditional stores continue to grapple with a host of problems including sluggish sales as more shopping takes place online. And there is the broad shift in consumer spending away from apparel and accessories and toward dining, travel and entertainment. But a bright spot has emerged: Stores, having reduced inventories, aren't sitting on piles of excess goods like they were a year ago. 'Because inventory management was quite good coming out of the third quarter, there's not going to be a need for aggressive promotions in the fourth quarter to clear out unsold goods,' said Bill Dreher, a retail research analyst with Susquehanna International.

'Having the right amount of inventory allows you to stick with your promotional plan,' Kohl's Corp. CEO Kevin Mansell said Friday. In an interview earlier this week, Neiman Marcus Group CEO Karen Katz attributed a jump in the luxury retailer's gross margin in the latest quarter to stronger full-priced sales. 'We've gotten our inventory in perfect alignment with our sales,' she said.

That all could change in the days leading up to Christmas. Shoppers have been trained to wait for deals, a practice made easier by online price comparisons. If they hold off on many purchases, retailers will likely have to slash prices more than planned as the season progresses. In a Wal-Mart on Long Island Thursday evening, Andre Valadas, a 34-year-old software engineer, said it was hard to snag a discounted Sharp TVs being sold at the store and at a Best Buy across the parking lot.

'I hope that if they don't have deals right now they will have them in a few weeks closer to Christmas,' he said. Black Friday is expected to be the third-busiest shopping day of the year, behind the Saturday before Christmas and Cyber Monday, according to Customer Growth Partners. Software company Adobe Systems Inc. Said online sales on Thanksgiving increased 18% to $2.87 billion. Friday, shoppers had spent $3.54 billion, up 16%. Adobe expects online sales to increase 14% to $107.4 billion for the November-December period, compared with the previous year.

Amazon said Thanksgiving was one of its biggest mobile shopping days, as orders placed through its app increased more than 50% over last year. Best selling items included Keurig coffee makers and its Echo speaker devices. 'If you go back to the creation of Black Friday, it was this amazing opportunity for customers to get great deals,' Dorion Carroll, vice president of mobile shopping at Amazon, said earlier this week. 'So they would flock to the stores and all of that would be great, until it wasn't. It got too crowded.' A few technical problems popped up on Friday.

Customers complained about error messages when using the sportswear maker's website, and Macy's said it experienced a 'slowdown' with its credit-card system. Both retailers said they were working on the issues. Even so, plenty of shoppers make the post-Thanksgiving pilgrimage to stores.

Delaney Dauchy, a 15-yearold shopping with her mother at a Thousand Oaks, Calif., mall, said the deals aren't as good this year. The Dauchys said they noticed smaller crowds than in past years, noting Black Friday deals have been going on all week. 'I'm not sure it seems extra special,' Anne Dauchy, 48, said.

Julie Jargon, Erica Phillips, Benjamin Parkin, Miguel Bustillo, and Sarah Nassauer contributed to this article. By Kinsey Grant The Street November 25, 2017 Nothing personal, Mr. Edward Lampert, but you've ridden Sears stock straight down the tubes. It's been a tough go for retail, but many of Sears' competitors have staged a comeback recently.

Why, then, hasn't Sears? How many times does Wall Street have to spell it out? Sears Holdings Corp. Is a dying retailer, and its long-time CEO and major shareholder Eddie Lampert isn't helping matters. Sears continues to notch mind-blowing losses, hemorrhage precious cash and is expected to report its third-straight double-digit decline in same-store sales in the holiday quarter. A disturbing holiday season would come even as the U.S.

Economy is humming again, which has sent people off to buy appliances at Sears rival Home Depot. The mood on Wall Street around Sears prior to the holidays has been glum. And rightfully so. In a filing earlier this month, Sears disclosed that it had borrowed another $60 million from affiliates of Lampert.

The company had already blown through a loan of $100 million that Lampert said he and his cohorts would offer Sears in October. That otherworldly hunger for cash is a signal that Sears is a sputtering car headed into the holidays that is likely to run out of gas in 2018.

The operations look to be in such severe shape, that Lampert's promised $1 billion in cost cuts appear to not be working (or are not being executed upon). What's odd is that cash hasn't been preserved to any tangible degree while Sears pretty much vanishes from America's suburban scene. So far this year, more than 350 Sears and Kmart stores have been shuttered, according to Fung Global Retail & Technology's store closure tracker. Earlier this month, Sears announced it would close an additional 63 stores after the holidays. More store closures are inevitable after Sears finishes up what's looking like a terrible holiday season.

Perhaps this millennial will finally visit one for the first time to scoop up a great store closing deal. Meanwhile, Lampert keeps on refusing to communicate with Wall Street on quarterly earnings calls. Sears simply offers up a pre-recorded call led by its CFO. Lampert does offer a blanket statement on earnings press releases that are nothing more than thinly veiled public relations fluff. Thanks for making the time, Ed. Instead of talking with Wall Street analysts this year, Lampert has opted to go straight to the media haters. He said in May that the 'irresponsible' media are dragging Sears down and never give him a shot, 'singling out' Sears.

So it's the media's fault that Sears has reported a per-share loss every quarter for the last 14? And that the merger of Sears and Kmart that the hedgie Lampert put together in 2004 has been an absolute failure? Now we'll be the first to admit that being a predominant mall-based retailer is no cakewalk right now. The industry has come under intense pressure from eCommerce retailers such as Amazon. Specifically for Kmart, the discounter has been under siege from a price war between Walmart, Target and Dollar Tree (thanks, Amazon). But many of Sears' retail rivals have enjoyed a mild-mannered comeback lately while Lampert continues to steer the burning Sears ship onto a rocky shore.

And why shouldn't they rebound? The stock market is reaching new highs, consumer confidence is way up, discretionary spending is strong and new retail leaders are driving reinventions. Walmart shares touched fresh highs this month on the back of CEO Doug McMillion's rebirth. 'Walmart is changing, and we are trying to accelerate the pace of that change,' McMillon told TheStreet's Sozzi when asked what investors -- who have sent shares up 41% this year to a record -- might be seeing in the company.

'People might be recognizing that the change is actually happening on top of some assets that are really valuable.' Can Lampert lay claim to that? And because of it, former Kmart shoppers are now buying food at a Walmart supercenter. Or take a look at electronics retailer Best Buy Co. Best Buy shares reached a record price this year, too, as CEO Hubert Joly has improved online operations and the look of the company's hulking stores. Best Buy has gotten its fair share of business once reserved to Sears' appliance and electronics departments.

Even mall-based teen apparel retailer Abercrombie & Fitch -- long left for dead by Wall Street -- is being reborn under new CEO Fran Horowitz. She sounded upbeat in this pre-holiday interview with Sozzi. Barring a Christmas miracle for Sears personally delivered by Santa to Lampert's house, it's time for Wall Street to pick out the casket for Sears that will go in the grave that it has already dug. Sears stock price over the last five years: down a startling 88%.

There is nothing merry about that. By Chris Brathwaite SHC News November 23, 2017 We remain committed to returning Sears Holdings to profitability: Opposing view For more than a century, Sears and Kmart have changed to meet the needs of shoppers across America. Consistent with that unbroken evolution, our focus over the past several years has been on transforming our company into an integrated retailer that seamlessly connects the digital and physical shopping experiences. We launched our Shop Your Way membership platform in 2009 to gain a deeper knowledge of our customers and better serve their needs, both online and in our stores.

Today, we have tens of millions of Shop Your Way members actively engaging with us through our digital platforms and our more than 1,000 physical locations. Our members have access to unmatched levels of convenience that allow them to shop with us wherever, whenever and however they want. For example, our free In-Vehicle Pickup service allows members to buy online at Sears.com and, using the Sears app, have their items directly loaded into their car at any Sears store - guaranteed within five minutes of arrival, without ever leaving their vehicle. Similarly, through our advanced Shop Your Way analytics, we personalize promotions and rewards for our members, increasing the value we can offer on the products they want, need and love. In fact, this holiday season we've given our members both convenience and value by offering early access to all Black Friday deals across our stores and online channels. So while the retail environment remains as competitive as ever, we continue to make progress toward our transformation - as demonstrated by the additional 10 million members who joined our Shop Your Way program in the past 12 months. Sears and Kmart are two of America's most iconic retailers and remain committed to returning the company to profitability.

We are deeply proud of our tens of thousands of associates nationwide who are working hard to serve our members this holiday season and will for many more holiday seasons to come. Chris Brathwaite is vice president of corporate communications for Sears Holdings. By Esther Fung The Wall Street Journal November 22, 2017 The biggest mall and mixed use center landlords across the U.S. Are digging deep into their pockets to attract customers this holiday season, rolling out everything from winter castles and Santa visits to gingerbread-making classes and temporary skating rinks. But they are under no illusion their efforts will bring windfalls to them or their tenants. Fully aware that most consumers nowadays intend to do at least some portion of their holiday shopping online, many landlords will be happy if the people coming in to ice skate make a few impulse purchases along the way.

'You do have to make a certain amount of investment,' said Barbara Garrett, general manager of mixed-use project Atlantic Station in Atlanta, which opened a seasonal outdoor ice-skating rink and held a Santa parade at its outdoor retail center on Saturday. The owner, property giant Hines, has been spending more in recent years for its Christmas events and decor, but believes it is worth it, Ms. Garrett said.

Landlords are investing more these days to spruce up their properties to differentiate themselves from others and from online shopping channels their tenants also are promoting. Relying on Black Friday to generate buzz isn’t enough any longer, especially since it has been losing its relevance as retailers roll out discounts earlier in November. 'We don't see those long lines at 3 a.m.

Anymore,' said Ms. But 'if I can get you here, you're most likely to visit other stores or stay and watch a movie.' Individual malls often spend $150,000 to $500,000 on holiday decorations, said Greg Maloney, chief executive officer of JLL's retail business in the Americas. 'People want to be festive. They want to be entertained,' said Mr. 'When we started pulling back [on Christmas decor and events] we got a backlash.' An estimated 164 million Americans plan to shop during Thanksgiving weekend, according to the National Retail Federation’s annual survey conducted by Prosper Insights & Analytics, up from 154.4 million last year.

Some 54% of consumers plan to spend about the same amount of money as last year, while 24% plan to spend more. Survey respondents said they plan to spread their holiday purchases across different channels, including online sites, department stores and other stores. The retailers themselves have asked landlords for more cosmetic upgrading to their stores before Black Friday, such as lighting fixtures or a fresh coat of paint to make their stores brighter, especially the area where the cash registers are located, said Bill Hayden, chief executive officer at Facility Source, a facilities management company that oversees 120,000 stores across the U.S. For more than 80 retailers. This year, there was an 8% to 10% increase over last year in holiday preparation work orders, Mr. Landlords of lower-tier malls in less well-off places can't invest as much on elaborate Christmas decor or events, which in turn could accelerate their spiral into irrelevance, especially if they are competing with newer retail centers nearby that have flashier offerings.

But owners of 'A-class' malls and more productive mixed-use centers have resources to be more creative. Rather than a single-minded goal of increasing sales per square foot, these landlords said their focus is on creating loyal customers. Easybox Wpa2 Keygen Free here. At North Hills, a mixed-use property with an open air mall in Raleigh, N.C., the tree-lighting ceremony on Saturday drew an estimated 10,000 people, according to its owner, Kane Realty Corp. The landlord is also organizing holiday themed cooking classes for families and pet adoption drives in its pop-up shop area to draw foot traffic. 'Does it drive sales when they are here? Maybe, maybe not,' said John Kane, chief executive officer of Kane Realty. 'But it gets people in the habit of coming here.'

By Khadeeja Safdar The Wall Street Journal November 21, 2017 Wal-Mart and others offer earlier discounts and store prices lower than items sold online Instead of copying Amazon. S playbook, retailers such as Wal-Mart Stores Inc.

And Target Corp. Are coming up with new tricks to maximize sales ahead of Black Friday. Some are offering earlier discounts to attract crowds before competition heats up Thursday, and emphasizing products not available on Amazon.

Others are rewarding their most loyal customers or marking store prices lower than those online. Amazon was the top preference for places to begin shopping for the holidays, according to a September study of 3,785 respondents by NPD Group Inc. The findings show that shoppers are making purchases earlier in the season, and more people are feeling fatigue around holiday shopping than in past years, with 41% saying they would rather plan an outing with family and friends than exchange gifts.

Maria Pugh of Delray Beach, Fla., said she plans to skip the rush on Black Friday and wait until Cyber Monday to buy housewares and check out deals for electronics on Amazon. 'The shopping malls are too crowded,' the 48-yearold attorney said. 'For me, it's more about convenience.' Amazon typically relies on algorithms that scrape competitors' prices before automatically matching or narrowly undercutting them on its website. The online company, which has long prioritized sales over profit, has recently been covering the cost of discounts on some items sold by third-party merchants.

Such practices have paid off in an environment where many shoppers are constantly on their smartphones making comparisons. 'Online sales are traditionally driven by price,' said Andrew Schydlowsky, chief executive of Track Street, a pricing consultancy. 'Retailers and brands are realizing that the race to the bottom is very dangerous and eventually destroys the value of the product,' he added. For the first time, Best Buy Co. Offered hundreds of Black Friday deals on televisions and other devices in early November in hopes of driving sales before the competition heats up. The electronics company has a price-matching guarantee, but the offer doesn't apply to items on sale Thanksgiving through Monday. Toys 'R' Us Inc., which filed for bankruptcy protection in September, also gave shoppers early access to Black Friday deals.

Target, after a weak holiday performance last year, cut prices this year on thousands of items, including cereal, paper towels and razors. Those moves helped in the past two quarters, pushing the company back to positive sales growth. In the months leading up to the holiday, the company has shifted away from 'up and down' pricing moves, streamlining the number of promotions to focus only on 'impactful' sales, said Mark Tritton, chief merchandising officer at Target, at a media event. 'Instead of playing that game, we're priced right from the very outset.'

The company has also reduced the phrases it uses for discounts from 28 last year to seven, dropping language such as 'weekly wow' and 'as advertised.' And instead of the 10 days of deals that it has been offering around Black Friday for the past two years, Target plans to promote weekend deals throughout the season in hopes of encouraging customers to visit stores on days they are more likely to make a trip. It is offering extra incentives to its loyalty-card holders, such as early access to Black Friday promotions. Wal-Mart, which has long emphasized an 'everyday low price' message, has been experimenting with a new online system, which at times results in higher prices online than in stores for goods that would otherwise be unprofitable to ship. Some product listings on the company's website now indicate an 'online' and 'in the store' price. The Bentonville, Ark., retailer said it would sell more exclusive products this holiday as compared with last year. Wal-Mart is offering 'the absolute best prices and in deeper quantities than the competition,' said Steve Bratspies, chief merchandising officer at Wal-Mart U.S., on a call this month.

One of the biggest pricing battlegrounds starting Thursday will be Apple Inc. For the iPhone 8 and 8 Plus, Wal-Mart is offering a $300 gift card with purchase and activation, while Target is giving out a $250 gift card and Best Buy is offering $200 cash savings.

The Wall Street Journal is tracking online prices of holiday items to reveal how retailers compete on pricing since Oct. Target has had the lowest prices for a basket of 10 popular holiday toys, including a Barbie doll, Nerf gun and Xbox videogame, on 38 of the first 47 days, according to information provided by Thinknum, a data-analysis firm. But Wal-Mart dropped to the lowest price on the Saturday before Black Friday. By Jeremy Bowman Fox Business November 17, 2017 Times are getting desperate for Sears Holdings Corporation. Shares of the ailing retailer slipped to an all-time low this week, falling below $4 as concerns about a potential bankruptcy mount.

In recent weeks, the company saw Bruce Berkowitz, one of its biggest investors, step down from its board; drew down a $200 million loan faster than expected; lost one of its biggest suppliers, Whirlpool Corporation, over a pricing dispute; and reported a 15.3% decline in comparable sales in the third quarter, ahead of its full earnings report later this month. Fortunately for Sears, which also owns Kmart, the retail industry's busiest season of the year is right around the corner.

Black Friday, so-called because it's retailers' best opportunity to get out of the red ink and into the black, is just next week, followed by Cyber Monday and then four weeks of packed shopping malls as Americans hustle to get all of their Christmas presents in time. Retailers often make a majority of their profits in the holiday quarter, so it's clear why Sears may be looking forward to the shopping season. Even so, it won't save the company. Here's why: Past is prologue Black Friday hasn't been enough to save Sears in recent years, so why would it be any different this year? In 2016's fourth quarter, the company reported an adjusted loss of $226 million, following an adjusted loss of $400 million in the fourth quarter of 2015.

In the holiday quarter in 2014, the company reported a net loss of $159 million after a $338 million deficit in the same period in 2013. It also reported a massive loss in the fourth quarter of 2012. Amazingly, you'd have to go all the way back to 2011 to find a holiday quarter in which Sears posted an adjusted profit.

The company, meanwhile, hasn't reported an annual operating profit since 2010. Whatever's wrong with Sears, clearly the power of Black Friday isn't enough to fix it.

Suppliers are fleeing Whirlpool's divorce from Sears was well-publicized, as the two companies had been partners for a century. Whirlpool is the world's largest home appliance maker, while Sears had been the nation's biggest appliance seller until recently, which is why the two made for natural partners. However, Whirlpool isn't the only company trying to separate itself from the flagging retailer.

In its recent earnings update, Sears blamed a slide in revenue in part on a reduction in 'consumer electronic assortments' in both Sears and Kmart stores, a sign that electronics suppliers are getting nervous. Importantly, electronics are a key category for holiday sales, as products like TVs, video game systems, and tablets make popular gifts.

Earlier in the year, Sears came into conflict with tool suppliers, One World Technologies and Ideal Industries, to the point of filing lawsuits against each over contract disputes, and the company also offloaded its Craftsman tool brand, which is now being sold at rival Lowe's. Other suppliers, meanwhile, have demanded Sears pay cash upfront on purchases, further tightening the company's liquidity. With suppliers fleeing, Sears may not even have enough merchandise to sell, and empty shelves will drive even more customers away. The whole department sector is ill In some ways, Sears isn't to blame for all of its problems. The rise of e-commerce has decimated mall traffic, and in the digital era department stores seem to be becoming obsolete. The cavernous emporiums that offer everything from clothes to cosmetics to jewelry to home goods were once a one-stop shop for Americans during the holidays, but with few brands of their own to offer, the format now seems to be at a disadvantage against other brick-and-mortar retailers.

Sears' rivals are also struggling. Gordman Stores declared bankruptcy earlier this year, and Bon-Ton Stores appears to be on its way to doing the same. Department store stocks have gotten crushed this year -- even Macy's is closing dozens of stores and consolidating flagships, and J.C. Penney shuttered 138 locations.

Hudson Bay's Lord & Taylor sold its flagship store on New York's Fifth Avenue, and will now lease just a quarter of it. Even Nordstrom, arguably the healthiest department store chain, saw comparable store sales fall 5% in its most recent quarter. In other words, even if Sears were to somehow have a blowout Black Friday and post a profitable quarter, the company is still facing enormous secular headwinds from shopping habits in the broader department store sector. The writing is on the wall for struggling department stores like Sears as the format dies a slow death.