Troubled retailer Sears Holdings (NASDAQ: SHLD), which was formed by a 2005 merger of Sears and Kmart, was thrown out of the S&P 500 as of September 4. It will be replaced by specialty chemical company LyondellBasell (NYSE: LYB), which is based in the Netherlands.
Sears has been a failure since it was formed by hedge fund manager Eddie Lampert, who still controls the company.
Over the past five years, Sears shares are down by 60%. The retail chain has been consistently out-flanked by Walmart (NYSE: WMT) and Target (NYSE: TGT), which have each become much larger in sales. Last year, Sears revenue was $41.5 billion one which it lost $3.1 billion. Wal-mart had sales of $447 billion and net income of of $15. 7 billion. Target had revenue of $69.9 billion and net income of $2.9 billion.
Sears,which has been battered and beaten by both the press and Wall St. will get the same treatment again as it loses one of its last important features — its membership in the S&P 500.
Douglas A. McIntyre
Travel Cards Are Getting Too Good To Ignore (sponsored)
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.