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Business News

Sears Tumbles Again


One has to ask themselves were the equity markets really 1% worse on Tuesday only to get 1% better on Wednesday?  We are getting lots of volatility in the market these days and this is the time to remind all retail investors to keep your eyes on the long-term not the neurotic day-to-day movements of the markets.  

The owner of a once iconic brand and an iconic blue light continues its path into the abyss.  Sears Holdings, the owners of Sears and K-Mart, says store sales fell almost 7% during the quarter resulting in a loss of $402 million. The company says they are closing another 80 stores by the end of the year. (Fortune)

International consumer staple company, Unilever, is selling the Ragu pasta sauce brand to Japans Mizkan Group for $2.15 billion as it completes the reorganization of its North American brands. Ragu had $600 million in sales annually.  Unilever move forward with its many brands such as Dove soap and Ben & Jerry’s ice cream. (CNBC)

Oregon railcar maker Greenbrier says it has received orders for 7000 railcars during April and May.  That is more than $700 million in revenue.  Oil tank cars made up 2300 of those new orders. (PR Newswire)

Portland based Keen Footwear has named Steve Mieneke their new President. Keen has been without a President for about a year after the last one lasted less than a month on the job. (Oregon Live)
 


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