Sears Holdings Corporation http://www.alacrastore.com/company-snapshot/Sears_Holdings_Corporation-1009476 Tuesday, October 14, 2008 6:26:34 AM 1009476 Sears Holdings Corporation en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/cs/74998cs/74998norm Sears #Q## Tearsheet Attempts to turn around store operations have been impeded by a continued drop in profit margins and sales, as the company faces weak consumer spending and reduced demand for appliances and other items tied to housing.SHLD...74998506YesC21Tearsheet90tearsheets/premium1710/7/2008 12:05:07 PM15074998Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/fitch/405006_report_framefitch/405006_report_framepdfFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Associates Housing Finance Services, Inc.Energy Transfer Partners L.P.Frontier Communications CorporationGeneral Motors CorporationRockwood Specialties Group, Inc.Sears Holdings Corporation8008900080090227800903928103149581882615833594629/26/2008 6:32:00 PM010101000102000001030000010303000103040001031100010313000103130101070000275NewsletterETPFTRGMSHLD405006_report_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/spcred/672596spcred/672596normThe latest Summary from S&Pglobal9/22/2008 1:12:06 PM175Summary672596United StatesDepartment StoresUnited StatesGlobal IssuersCorporationsRetailSummaryThe ratings on Sears Holdings Corp. reflect the relatively high business risk associated with Sears department stores and Kmart discount department stores, and Standard&Poor's Ratings Services' expectation that both concepts will remain challenged to improve store productivity and profitability. Our concerns also include the company's growing use of cash flow to fund share repurchases and dwindling cash flow protection measures. Hoffman Estates, Ill.-based Sears reported a continued decline in operating results for the second quarter ended Aug. 2, 2008, with shrinking sales and weak profitability. Sales trends continued to deteriorate in 2008 with total domestic comparable-store sales declining 6.2% in the second quarter ended Aug. 4, 2008, with comparable-store sales dropping 6.7% at Sears Domestic and 5.6% atUSA81235025503010 255030 2550 25Sears Holdings Corp.385899USASHLDSUMMARYGLOBISSCORPRetailCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/fitch/403012_report_framefitch/403012_report_framepdfFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.AutoZone, Inc.Best Buy Company, Inc.Blockbuster, Inc.Burlington Coat Factory Warehouse CorpCostco Wholesale CorporationCVS Caremark CorpDillard's, Inc.Gap Inc.J. C. Penney Company, Inc.Kohl's CorporationLimited Brands, Inc.Lowe's Companies, Inc.Macy's, Inc.Neiman Marcus, Inc.Nordstrom, Inc.RadioShack CorporationRite Aid CorporationSafeway Inc.Saks IncorporatedSears Holdings CorporationStaples, Inc.SUPERVALU Inc.Target CorporationThe Bon-Ton Stores, Inc.The Home Depot, Inc.The Kroger CompanyToys R Us, Inc.Wal-Mart Stores, Inc.80088950800892398008931680089884800900858009010380090540800905648009078980090927800910508009116280091459800914738009150480338524803616818041717980766004807760018157425581639398816578678165787281657875818826158287854983001725839880679/19/2008 6:31:40 PM01030000010303000103030101070000275Special ReportAZOBBIBBYBONTCOSTCVSDDSGPSHDJCPJWNKRKSSLOWLTDMRADRSHSHLDSKSSPLSSVUSWYTGTWMT403012_report_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/newstex/PRN-0005-28193698newstex/PRN-0005-28193698xml HOFFMAN ESTATES, Ill., Sep. ##, #### (PRNewswire-FirstCall delivered by Newstex) -- Today Fitch Ratings ("Fitch") issued a press release in which it downgraded the ratings associated with certain of Sears Holdings Corporation's ("SHC")...040000000400700004007005040090000400900104016000040160050200000002002000020020069/19/2008 5:19:41 PM1800000018009000180240001801600019000000190010001900200019002012PR Newswire USPRN-0005-28193698SEARS HOLDINGS CORPMartha StewartSHLDNewsNewstexhttp://www.alacrastore.com/storecontent/fitch/436837_pr_framefitch/436837_pr_framehtmlFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Kmart Holding CorporationSears Dc CorporationSears Holdings CorporationSears, Roebuck & Co.Sears, Roebuck Acceptance Corporation80088941800889428008921681882615834002619/19/2008 2:13:00 PM01030000010303000107000085Press ReleaseSHLD436837_pr_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/fitch/402266_report_framefitch/402266_report_framepdfFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.AutoZone, Inc.Best Buy Company, Inc.Blockbuster, Inc.Burlington Coat Factory Warehouse CorpCostco Wholesale CorporationCVS Caremark CorpGap Inc.J. C. Penney Company, Inc.Kohl's CorporationLimited Brands, Inc.Lowe's Companies, Inc.Macy's, Inc.Neiman Marcus, Inc.Nordstrom, Inc.RadioShack CorporationRite Aid CorporationSafeway Inc.Saks IncorporatedSears Holdings CorporationStaples, Inc.SUPERVALU Inc.Target CorporationThe Bon-Ton Stores, Inc.The Home Depot, Inc.The Kroger CompanyToys R Us, Inc.Wal-Mart Stores, Inc.8008895080089239800893168008988480090085800901038009054080090564800907898009092780091050800911628009145980091473800915048033852480361681807760018157425581639398816578678165787281657875818826158287854983001725839880679/17/2008 2:14:00 PM01030000010303000103030101070000275Special ReportAZOBBIBBYBONTCOSTCVSGPSHDJCPJWNKRKSSLOWLTDMRADRSHSHLDSKSSPLSSVUSWYTGTWMT402266_report_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/newstex/PRN-0005-27728465newstex/PRN-0005-27728465xml HOFFMAN ESTATES, Ill., Aug. ##, #### (PRNewswire-FirstCall delivered by Newstex) -- Sears Holdings Corporation ("Holdings," "we," "us," "our" or the "Company") (Nasdaq: SHLD) today reported net income of $## million, or $#.## per diluted...04000000040160000401604804016001040160180401600904016003040160190400700004007005040110000401100404009000040090028/28/2008 7:23:02 AM1800000018008000180040001801100018013000190000001900200019002012PR Newswire USPRN-0005-27728465SEARS HOLDINGS CORPMartha StewartW BRUCE JOHNSONSHLDNewsNewstexUS - Fairholme Capital Managemnet LLC acquired a #.#% stake, or #.### mil common shares, in Sears Holdings Corp, an owner and operator of department stores.8/13/2008 10:43:48 AM30486F81235030486F812350Fairholme Capital Management LLCSears Holdings CorpFairholme Capital Management LLCSears Holdings Corphttp://www.alacrastore.com/storecontent/Thomson_M%26A/Fairholme_Cap_Mgmt_LLC_acquires_a_minority_stake_in_Sears_Holdings_Corp-2003577020sdc/20035770202003577020Copyright © 2008, Thomson Financial, All Rights ReservedInvestment & Commodity Firms,Dealers,ExchangesUnited StatesInvestment advice6282FLFloridaPrivate6282:Investment advice6722:Management investment offices, open-end6726:Investment offices, nec6799:Investors, nec6282:Investment advice6722:Management investment offices, open-end6726:Investment offices, nec6799:Investors, necNasdaqRetail Trade-General Merchandise and ApparelUnited StatesDepartment stores5311ILIllinoisPublicSHLD857309001Pvd invest advisory svcsOwn,op ret dept storesUnspecifiedCommon Stock3393003Aug 13 200880.076001413.000002180.000002578.000003575.000002811.00000944.00000617.0000010570.000000.601000.332001146.000003.83000554.000001022.0000050069.000001219.0000027338.000000.000000.000000.000000.000000.000000.0000003 May 0802 Feb 0802 Feb 0702 Feb 0602 Feb 0502 Feb 041.000001.000002.000003.000004.000005.000006.00000Fairholme Capital ManagementLLC located in Miami, Florida,is an investment adviser thatoffer investment services toindividuals, ERISA accountsand corporations.Fairholme Capital Management LLC located in Miami, Florida,is an investment adviser that offer investment services toindividuals, ERISA accounts and corporations.Fairholme Capital Management LLC located in Miami, Florida, is an investment adviser that offer investment services to individuals, ERISA accounts and corporations.1.000002.000003.000004.000005.000006.000007.000008.000009.0000010.0000011.0000012.0000013.00000Sears Holdings Corp, locatedin Hoffman Estates, Illinois,owns and operates generalmerchandise discount andretail department storesspecializing in homeappliances, tools, lawn andgarden, home electronics, andautomotive repair parts inNorth America. The holdingcompany operated of Kmart andSears, Roebuck and Co. Thecompany was founded in 2005.Sears Holdings Corp, located in Hoffman Estates, Illinois,owns and operates general merchandise discount and retaildepartment stores specializing in home appliances, tools,lawn and garden, home electronics, and automotive repairparts in North America. The holding company operated ofKmart and Sears, Roebuck and Co. The company was founded in2005.Sears Holdings Corp, located in Hoffman Estates, Illinois, owns and operates general merchandise discount and retail department stores specializing in home appliances, tools, lawn and garden, home electronics, and automotive repair parts in North America. The holding company operated of Kmart and Sears, Roebuck and Co. The company was founded in 2005.0.000000.000000.00000132.01000N09 Aug 08Sat, 09 Aug 2008 00:00:00 ESTDate Announced: 08/09/200809 Aug 08Date Effective: 08/09/200809 Aug 08Acq. Part. Int.Friendly0.000000.000000.000000.000000.000000.00000Price/Share0.0000000.000000.0000000.000005.400005.400000.000000.000002095.0000000.00000N0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.886000.000005.400000.000000.000000.000000.000000.000000.000000.000000.000000.0000089.9000078.8500070.91000-4.2340042.971000.163000.00000-3.884000.000002289.000009361.0790010896.00000-4.0600049.60300-6.656000.000001.000002.000003.000004.000005.000006.00000US - Fairholme CapitalManagemnet LLC acquired a 5.4%stake, or 7.129 mil commonshares, in Sears HoldingsCorp, an owner and operator ofdepartment stores.US - Fairholme Capital Managemnet LLC acquired a 5.4% stake, or 7.129 mil common shares, in Sears Holdings Corp, an owner and operator of department stores.US - Fairholme Capital Managemnet LLC acquired a 5.4% stake, or 7.129 mil common shares,in Sears Holdings Corp, an owner and operator of department stores.US - Fairholme Capital Managemnet LLC acquired a 5.4% stake, or 7.129 mil common shares, in Sears Holdings Corp, an owner and operator of department stores.US - Fairholme Capital Managemnet LLC acquired a 5.4% stake, or 7.129 mil common shares, in Sears Holdings Corp, an owner and operator ofdepartment stores.Completed0.000000.000000.000000.0000080.076002180.000002578.000003575.000002811.00000944.00000617.0000010570.000001146.000005.700009.570006.1700011.00000-6.080003.8300010896.0000010980.0000012883.0000011929.000004469.000002192.00000826.000001490.00000948.000001106.00000-614.00000554.000001452.000002464.000001959.000001772.00000-470.000001022.0000050703.0000053012.0000049124.000000.0000023253.0000050069.0000027338.0000027397.0000030066.0000030573.000007925.000006084.00000Status:CompletedUS-999.00000np0.02000-999.00000np-13.907000.000005.241001.5940021.5170010570.00000-5.3370045.673000.000000.000000.000005311:Department stores5331:Variety stores5399:Miscellaneous general merchandise stores5531:Auto and home supply stores6719:Offices of holding companies, nec857309001United States6282FloridaPrivate5311:Department stores5331:Variety stores5399:Miscellaneous general merchandise stores5531:Auto and home supply stores6719:Offices of holding companies, nec3393003NasdaqUnited States5311IllinoisPublicSHLD0.000000.000000.000000.00000Deal InformationTF Mergers & Acquisitionshttp://www.alacrastore.com/storecontent/moodys/PBC_109629moodys/PBC_109629pdf...Portfolio of well-known proprietary products including Kenmore appliances, Craftsman tools, Lands End apparel and home products, and Die Hard batteries ... 6/27/2008 12:17:55 PMpdfSears Holdings Corp.Sears Holdings Corp.808108658300.0000AnalysisAnalysisPBC_109629Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/spcred/654558spcred/654558normThe latest Summary from S&Pglobalstructured6/17/2008 6:25:00 PM175Summary654558United StatesDepartment StoresUnited StatesGlobal IssuersStructured FinanceCorporationsCollateralized Debt ObligationsRetailSummaryThe ratings on Sears Holdings Corp. reflect the relatively high business risk associated with Sears department stores and Kmart discount department stores, and Standard&Poor's Ratings Services' expectation that both concepts will remain challenged to improve store productivity and profitability. Our concerns also include the company's growing use of cash flow to fund share repurchases and dwindling cash flow protection measures. Hoffman Estates, Ill.-based Sears reported disappointing operating results for the quarter ended May 3, 2008, with steep declines in sales and weak profitability. Sales trends continued to deteriorate in 2008 with total domestic comparable-store sales declining 8.6% in the first quarter ended May 1, 2008. Comparable-store sales dropped 9.8% at Sears Domestic and 7.1% at Kmart. Increased competitiveUSA81235025503010 255030 2550 25Sears Holdings Corp.385899USASHLDSUMMARYUSA81240481240Q8124J28124J38124J78124JF40202010 402020 4020 40Sears Roebuck Acceptance Corp.102101ASIAEMERGINGLATAMERICAUSAS1GLOBISSSTRUCCORPCDORetailCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/cs/70594cs/70594norm Consumer/Retail #H May Short Interest Report Short interest shares for the Grocers increased #.#% in #H May, following a ##.#% surge in #H May.  With a shaky economy, rising food inflation and skyrocketing fuel prices pressuring the...42High Yield6/12/2008 8:04:37 PM150We look to the most recent release of short interest data to gauge developing sentiment in the markets for Retailers, Grocers, and Food & Beverage, and Consumer Products names in our coverage universe.705942810YesD0Article2148442194587515519178370919514912111138131139172314542040907889965092512961424191190102629120818428204519326corphy6691759Short Interest54Euro Markets Issuers70594Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/67087cs/67087norm Sears #Q## Tearsheet Attempts to turn around store operations have been impeded by a continued drop in profit margins and sales, as the company faces weak consumer spending and reduced demand for appliances and other items tied to housing.SHLD...67087522YesC21Tearsheet90tearsheets/premium176/9/2008 5:04:50 PM15067087Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/moodys/PR_156885_808108658moodys/PR_156885_808108658htmlGlobal Credit Research Rating Action # JUN #### Rating Action: Sears Holdings Corp. Moody's changes Sears' outlook to negative New York, June ##, #### -- Moody's Investors Service today affirmed the Ba# corporate family rating and...6/7/2008 12:44:05 AMhtmlSears Holdings Corp.Sears, Roebuck and Co.Sears Roebuck Acceptance Corp.Sears DC Corp.Sears DC Corp.; Sears Holdings Corp.; Sears Roebuck Acceptance Corp.; ...808108658670500670000241350150.0000NewsRating ActionPR_156885_808108658Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/cs/70322cs/70322norm May Retail Sales: Bargaining for Improvements Aggregate same store sales comparisons, as measured by the Bloomberg Same Store Sales Composite Index, increased #.##% in May after a #.##% gain in April. May retail sales continued to...corp1742High Yield54Euro Markets Issuers6/6/2008 1:06:01 AM150May retail sales continued to trek the path of mixed results as retailers resort to heavy discounting to clear inventories and spur top-line growth. However, margins will remain challenged as retailers weather through these difficult times.703223172YesD0Article1714815139190198850918428hy70322Credit & Investment ResearchCreditSightsUS - In May ####, the board of Sears Holdings Corp, an owner and operator of general merchandise discount and retail department stores, authorized the repurchase of up to $### mil of the company's common stock outstanding in open market or privately negotiated transactions.5/30/2008 5:21:36 PM812350812350812350812350Sears Holdings CorpSears Holdings CorpSears Holdings CorpSears Holdings Corphttp://www.alacrastore.com/storecontent/Thomson_M%26A/Sears_Holdings_Corp_buys_back_stock-1982011020sdc/19820110201982011020Copyright © 2008, Thomson Financial, All Rights ReservedNasdaqRetail Trade-General Merchandise and ApparelUnited StatesDepartment stores5311ILIllinoisPublicSHLD5311:Department stores5331:Variety stores5399:Miscellaneous general merchandise stores5531:Auto and home supply stores6719:Offices of holding companies, nec5311:Department stores5331:Variety stores5399:Miscellaneous general merchandise stores5531:Auto and home supply stores6719:Offices of holding companies, necNasdaqRetail Trade-General Merchandise and ApparelUnited StatesDepartment stores5311ILIllinoisPublicSHLD3393003Own,op ret dept storesOwn,op ret dept storesCashCash OnlyCommon Stock3393003May 30 20080.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.000002.000003.000004.000005.000006.000007.000008.000009.0000010.0000011.0000012.0000013.00000Sears Holdings Corp, locatedin Hoffman Estates, Illinois,owns and operates generalmerchandise discount andretail department storesspecializing in homeappliances, tools, lawn andgarden, home electronics, andautomotive repair parts inNorth America. The holdingcompany operated of Kmart andSears, Roebuck and Co. Thecompany was founded in 2005.Sears Holdings Corp, located in Hoffman Estates, Illinois,owns and operates general merchandise discount and retaildepartment stores specializing in home appliances, tools,lawn and garden, home electronics, and automotive repairparts in North America. The holding company operated ofKmart and Sears, Roebuck and Co. The company was founded in2005.Sears Holdings Corp, located in Hoffman Estates, Illinois, owns and operates general merchandise discount and retail department stores specializing in home appliances, tools, lawn and garden, home electronics, and automotive repair parts in North America. The holding company operated of Kmart and Sears, Roebuck and Co. The company was founded in 2005.1.000002.000003.000004.000005.000006.000007.000008.000009.0000010.0000011.0000012.0000013.00000Sears Holdings Corp, locatedin Hoffman Estates, Illinois,owns and operates generalmerchandise discount andretail department storesspecializing in homeappliances, tools, lawn andgarden, home electronics, andautomotive repair parts inNorth America. The holdingcompany operated of Kmart andSears, Roebuck and Co. Thecompany was founded in 2005.Sears Holdings Corp, located in Hoffman Estates, Illinois,owns and operates general merchandise discount and retaildepartment stores specializing in home appliances, tools,lawn and garden, home electronics, and automotive repairparts in North America. The holding company operated ofKmart and Sears, Roebuck and Co. The company was founded in2005.Sears Holdings Corp, located in Hoffman Estates, Illinois, owns and operates general merchandise discount and retail department stores specializing in home appliances, tools, lawn and garden, home electronics, and automotive repair parts in North America. The holding company operated of Kmart and Sears, Roebuck and Co. The company was founded in 2005.0.000000.000000.00000132.35000NU.S. Dollar29 May 08Thu, 29 May 2008 00:00:00 ESTDate Announced: 05/29/2008Date Effective:BuybackNot Appl.0.000000.000000.000000.000000.000000.00000Price/Share0.00000500 U.S. Dollar500.000000.00000500 U.S. Dollar500.000000.000000.000000.000000.00000500.00000500 U.S. Dollar1.00000N253.126000.000000.000000.000000.000000.00000500.00000500.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.000002.000003.000004.000005.000006.000007.000008.000009.0000010.0000011.00000US - In May 2008, the board ofSears Holdings Corp, an ownerand operator of generalmerchandise discount andretail department stores,authorized the repurchase ofup to $500 mil of thecompany's common stockoutstanding in open market orprivately negotiatedtransactions.US - In May 2008, the board of Sears Holdings Corp, an owner and operator of general merchandise discount and retail department stores, authorized the repurchase of up to $500 mil of the company's common stock outstanding in open market or privately negotiated transactions.US - In May 2008, the board of Sears Holdings Corp, an owner and operator of generalmerchandise discount and retail department stores, authorized the repurchase of up to $500mil of the company's common stock outstanding in open market or privately negotiatedtransactions.US - In May 2008, the board of Sears Holdings Corp, an owner and operator of general merchandise discount and retail department stores, authorized the repurchase of up to $500 mil of the company'scommon stock outstanding in open market or privately negotiated transactions.US - In May 2008, the board of Sears Holdings Corp, an owner and operator of general merchandise discount and retail department stores,authorized the repurchase of up to $500 mil of the company's common stock outstanding in open market or privately negotiatedtransactions.Intended0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000Status:Intended-999.00000np0.00000-999.00000np0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000005311:Department stores5331:Variety stores5399:Miscellaneous general merchandise stores5531:Auto and home supply stores6719:Offices of holding companies, nec3393003NasdaqUnited States5311IllinoisPublicSHLD5311:Department stores5331:Variety stores5399:Miscellaneous general merchandise stores5531:Auto and home supply stores6719:Offices of holding companies, nec3393003NasdaqUnited States5311IllinoisPublicSHLD500.00000500.00000500.00000253.12600Deal InformationTF Mergers & Acquisitionshttp://www.alacrastore.com/storecontent/spcred/651282spcred/651282normThe latest News from S&Pglobal5/30/2008 3:39:08 PM100News651282United StatesDepartment StoresUnited StatesGlobal IssuersCorporationsRetailNewsNEW YORK (Standard&Poor's) May 30, 2008--Standard&Poor's Ratings Services said today it revised its outlook on Hoffman Estates, Ill.-based Sears Holdings Corp. (Sears) and related entities to negative from stable. We also affirmed the corporate credit and bank loan ratings on Sears and the senior unsecured ratings on Sears Roebuck Acceptance Corp., Sears Canada Inc., and Sears DC Corp. "The outlook revision is based on Sears' disappointing operating results for the quarter ended May 3, 2008," said Standard&Poor's credit analyst Ana Lai, "with steep declines in sales and weak profitability." She also said that Standard&Poor's is concerned about management's ability to revive sales and improve profitability in a challenging economic and housing environmentUSA81235025503010 255030 2550 25Sears Holdings Corp.385899USASHLDNEWSGLOBISSCORPRetailCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/651283spcred/651283normglobalstructured5/30/2008 3:39:08 PM175Research Update651283United StatesDepartment StoresUnited StatesGlobal IssuersStructured FinanceCorporationsCollateralized Debt ObligationsRetailResearch UpdateOn May 30, 2008, Standard&Poor's Ratings Services revised its outlook on Hoffman Estates, Ill.-based Sears Holdings Corp. (Sears) and related entities to negative from stable. We also affirmed the corporate credit and bank loan ratings on Sears and the senior unsecured ratings on Sears Roebuck Acceptance Corp., Sears Canada Inc., and Sears DC Corp. The outlook revision is based on Sears' disappointing operating results for the quarter ended May 3, 2008, with steep declines in sales and weak profitability, as well as Standard&Poor's concern about management's ability to revive sales and improve profitability in a challenging economic and housing environment and an intensely competitive landscape. The ratings on Sears reflect the relatively high business risk associatedUSA81235025503010 255030 2550 25Sears Holdings Corp.385899USASHLDRESUPDUSACAN8124J325466#25466P25466R81234P8124048124J281240Q8124J781234*81234D81234Z8124JF40202010 402020 4020 4025503010 255030 2550 25Sears Roebuck Acceptance Corp.Sears Canada Inc.Sears DC Corp.102101110577349415ASIALATAMERICAUSACANEMERGINGS1S2SCC@CNGLOBISSSTRUCCORPCDORetailCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/cs/69944cs/69944norm Earnings Note: Sears Holdings #Q## - Margins Get Torqued Sears Holdings reported a #.#% decrease in total sales to $##.# billion Weak consumer demand took a negative #.#% impact on same store results, which were down in both Sears...699441224YesD0Article90corphy1768Earnings Reports - Industrials/Consumer42High Yield5/29/2008 10:05:48 PM150Sears suffered a severe blow to profitability in the quarter as a one-two combo of slipping sales and falling margins put the company under pressure. However, that didn't stop SHLD from authorizing a new round of share buybacks.69944Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/55731cs/55731norm May Retail Sales: Little Bounce in Rebound Retailers rebounded (somewhat) from a horrid April performance that was marred by a shift in the Easter holiday and unfavorable weather with modest gains as well as losses in May. Aggregate...557312433YesD0Article8751481517139190885091819428corp/reportshy1742High Yield54Euro Markets Issuers5/14/2008 11:06:25 AM150Retailers rebounded (somewhat) from a horrid April performance with modest gains as well as losses in May. The outlook for consumer spending remains healthy on the back of a growing labor market.55731Credit & Investment ResearchCreditSights