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Driving merger and acquisition successes in 2011
By George F. Brown, Jr., [email protected]
The increased pace of merger and acquisition activity late in 2010, including some huge deals, suggests that 2011 will be an active year. Low interest rates, significant cash on many firms’ balance sheets, and stock prices that are low enough to attract buyers but high enough to move sellers off the sidelines all reinforce that possibility.
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Sears releases year-end outlook
Hoffman Estates, Ill.-based Sears Holdings released its year-end outlook for the fiscal year 2010 ending Jan. 29.
For the full year, the company expects a net income of $210 million, with a fourth-quarter income expectation of between $370 million and $450 million, offsetting the company’s past two quarterly losses.
The company also posted up-to-date comparable-store sales for both its Sears Domestic and Kmart stores.
For the quarter-to-date, comparable-store sales for its Sears Domestic stores were down 5.3%, with Kmart stores seeing an increase of 3.4%.