Sears Holdings Gets An Offer For Kenmore [Seeking Alpha]
VictoryShares Protect America ETF (SHLD)
US:NASDAQ Investor Relations:
searsholdings.com/invest
Company Research
Source: Seeking Alpha
Sears Holdings Gets An Offer For KenmoreSummaryESL submitted a non-binding proposal to acquire Kenmore for $400 million and the Sears Home Improvement business for $70 to $80 million.The Kenmore offer is somewhat lower than the $500 million valuation that was previously estimated.Kenmore sales have been dropping due to the decline in Sears sales, while its Amazon sales appear to have not been anywhere near enough to make up for that decline.Amazon has excellent potential as a distribution channel but currently remains a small player in major appliances with a less than 1% market share.The $400 million bid shows how much Sears' retail decline has affected some of its asset values, as $800 million was a reasonable estimate of Kenmore's value five years ago.
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