Language Selection

English French German Italian Portuguese Spanish

Kmart acquires Sears

Filed under
Misc

Kmart chief Edward Lampert yesterday got 69 percent vote from his shareholders giving him the green signal for the $12.3bn acquisition of Sears Roebuck & Co. The merger is expected to halt further decline in sales of both the retail giants.

The new entity will be called Sears Holdings Corp. (ticker symbol SHLD) and result in a cutting a number of jobs. It will be the third largest retailer in the US after Wal-Mart Stores Inc. and Home Depot Inc.

Immediate plans for the new retailing company include converting about 400 Kmart stores to Sears Essentials stores adding snacks and other convenience items to the usual mix of offerings. The changes are meant to boost sales by $200 million and save $300 million.

More here.

More in Tux Machines

11 Ways That Linux Contributes to Tech Innovation

Over the past six months I've asked new Linux Foundation corporate members on the cutting edge of technology to weigh in on what interesting or innovative trends they're witnessing and the role that Linux plays in them. Here's what engineers, CTOs, and other business leaders from companies including CoreOS, Rackspace, SanDisk, and more had to say. Read more

Jessie Release Date: 2015-04-25

We now have a target release date of Saturday the 25th of April. We have checked with core teams, and this seems to be acceptable for everyone. This means we are able to begin the final preparations for a release of Debian 8 - "Jessie". The intention is only to lift the date if something really critical pops up that is not possible to handle as an errata, or if we end up technically unable to release that weekend. Please keep in mind that we intend to have a quiet period from Saturday the 18th of April. Bug fixes must be *in Jessie* before then. Read more

Radeon Linux Benchmarks: Catalyst 15.3 Beta vs. Linux 4.0 + Mesa 10.6-devel

Before ending out March, here's some new OpenGL Linux benchmarks comparing the closed-source Catalyst 15.3 Beta driver against the Linux 4.0 development kernel with Mesa 10.6 Git for the freshest open-source graphics driver code. Read more