The Wall Street Journal November 24, Instead goldman sachs sells reinsurance business plan door busters, shoppers find a mess; 'I came here for years and years and all of a sudden they're closing' The Sears store on Thanksgiving night looked as if it was hit by a storm.
Shirts, pants, shoes, hangers, empty boxes and tags all were sprawled throughout the store's three floors at the Lake Success Shopping Center. But the mess wasn't the result of a crush of Black Friday bargain hunters.
Rather, it's all that's left of a once-dominant business at dozens of Sears stores that are being liquidated this holiday season, following the chain's bankruptcy filing in October.
Jimenez said he'd been shopping at this Sears for at least 20 years. A lonely broom stood next to a pile of trash that hadn't been picked up. The women's underwear section was desolate. The main floor still had clothes and shoes on display, but the glass jewelry cases contained nothing but boxes that once held necklaces and watches.
It was closed, though, so she thought she'd take advantage of Sears's closing sale. A spokesman for Sears Holdings Corp. The company, which also owns Kmart, hopes to restructure its debts and continue operating about locations after the holidays.
Sears defined American retailing for generations, with catalogs and department stores that brought toys, Craftsman tools and Kenmore appliances to millions of homes.
Despite its merger with rival Kmart over a decade ago, Sears has continued struggling to compete with discounters like Walmart Inc. The appliance area on the lower floor was mostly empty and looked like an abandoned warehouse.
He said he used to buy clothes here from time to time, but it wasn't a store he would go to on Black Friday. Not all Sears stores are disheveled or disappearing. The Kmart in Midtown Manhattan was busy with shoppers on Black Friday morning and stocked with holiday merchandise, including bins of Barbie dolls, Nerf guns and wrapping paper.
Lucy Rodriguez, a year-old retiree from Little Neck, N. Within five minutes "they ran out of a lot of stuff" that was on sale, said Linda Buck, a year-old bargain hunter who was at a Macy's store near Pittsburgh when it opened at 5 p.
Chief Executive Jeff Gennette said in an interview Friday. Chains from Macy's to Walmart Inc. They are also contending with higher labor and freight costs.
Those pressures combined with deep discounts on a range of goods have already flattened profit margins at many chains, despite a sales uptick. In the past week, Target Corp. Maxx, Marshalls and HomeGoods, both reported rising sales, but said margins were hurt by higher costs. CEO Michelle Gass said Friday the chain is reducing the amount of inventory it carries and buying closer to when needed.
On Friday, shares of Macy's, Kohl's and Target were lower, while Walmart was among those that gained. The National Retail Federation expects online and in-store sales in November and December to increase as much as 4. That is less than last year's 5.
The night before, the store had offered some of its "door-buster" specials, a continuing trend among retailers. Still, some die-hard shoppers showed up before the crack of dawn, saying that despite the allure of easy online shopping, the ritual of going into a store in a hunt for Black Friday deals was something they always relished.
At Walmart, so many shoppers logged into walmart. Some customers initially complained about not being able to complete their checkout.
He also said stores were busy on Thanksgiving.Jan 18, · Goldman Sachs: Looking to sell off reinsurance business Related Stories Bermuda-based Ariel Re’s parent company, Goldman Sachs, has been at the centre of much speculation this week amid rumours the investment bank is planning to sell off a majority stake in its reinsurance business.
Mar 06, · The American Dream is alive and well on Wall Street thanks to Robert Smith, the richest black person in America, who has figured out a way to reengineer both .
Aug 09, · Goldman Sachs offloaded a stake in Rothesay Life back in to the same trio of investors, as it sought to reduce its interests in insurance and reinsurance business to meet capital rule.
Goldman Sachs has sold a 75 per cent stake in Ariel Re, the Bermuda-based reinsurance company bought by the Wall Street bank less than a year ago, according to people familiar with the deal.
KKR & Co. Inc. (formerly known as Kohlberg Kravis Roberts & Co. and KKR & Co. L.P.) is a global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit, and, through its strategic partners, hedge metin2sell.com firm has completed more than private equity investments in portfolio companies with approximately $ The Hartford To Sell Retirement Plans Business To MassMutual.
which is structured as a reinsurance transaction, is expected to close by the end of , subject to regulatory approvals and satisfying other customary closing conditions.
The Hartford's financial advisors for the divestiture are Greenhill & Co. and Goldman, Sachs & Co.