Home Centers

It's no secret that Sears has been struggling, but a less-than-robust Q3 earnings report may have prompted the retailer to make a few drastic moves in an effort to sustain itself.

Sears Holdings Corporation announced that its wholly owned subsidiaries, Sears Roebuck Acceptance Corp. and Kmart Corporation, have taken out a $1.0 billion loan.

The incremental term loan was enacted under a new senior secured term loan facility under the company's existing credit agreement, titled Second Amended and Restated Credit Agreement dated April 8, 2011. The agreement continues to provide for a $3.275 billion asset-based revolving credit facility.

According to an article in the Chicago Tribune, former Home Depot executive Matthew Pitts has joined SMS Assist as chief operating officer. 

At Atlanta-based Home Depot, Pitts was VP building services and had worked at the retailer for about 20 years. SMS is a facilities maintenance company based in Chicago. It serves about 24,000 locations.

The Home Depot intends to make a dent in consumer energy and greenhouse gas emissions.

The discount giant’s innovation gala presented a glimpse into the future of retail.

Losses at Hoffman Estates, Ill.-based Sears Holdings Corp. widened in the second quarter ended July 30. The company's net loss was $146 million, compared with a loss of $39 million in the same quarter last year.

Total revenues decreased to $10.3 billion for the quarter, down slightly from $10.5 billion for the quarter ended July 31, 2010. Kmart's comparable-store sales were flat, and Sears Domestic comparable store sales declined 1.2%.

A man wearing a Batman-like mask cape and body armor was arrested outside a Mansfield, N.J.-area Home Depot after scaring a number of shoppers by approaching them to ask if he could help in any way.

According to an article in the Express Times, Matthew Argintar, 23, is part of a members-only group called Real Life Super Heroes (Reallifesuperheroes.org) that provides content on crime fighting, equipment and police scanner feeds.

A 30-year-old man was arrested at a Home Depot store in Natick, Mass. for stealing a $524 welder, according to an article in the Metro West Daily News. 

Store security apprehended Brandon Wood, a student at UMass-Boston, on July 13 after he loaded the welder into a cart. They told police they recognized him as someone who had stole the same welder the week before but had evaded loss personnel officers.