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
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.