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Sears Holdings Cuts 100 HQ Jobs

BY CSA STAFF

Hoffman Estates, Ill. Sears Holdings Corp. is cutting another 100 jobs at its headquarters as it continues to reduce costs in the face of weak sales.

 The owner of the Kmart and Sears retail chains told employees at its headquarters about the latest cuts Wednesday.

The cuts amount to 2% of its headquarters staff of 5,000 and come just two months after the retailer eliminated 200 other jobs there.

Sears Holdings spokesman Chris Brathwaite says the company needs to constantly improve the way it does business and continuously look for ways to reduce expenses.

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Kroger offers free groceries for tax rebates

BY CSA STAFF

CINCINNATI Kroger has reported that starting May 2, customers can exchange their tax refund or economic stimulus checks for gift cards that will be loaded with an extra $30.00, $60.00 or $120.00, depending on the amount originally added.

David Dillon, Kroger chairman and ceo, said. “Kroger’s program allows our customers to stretch their grocery dollars further. We are excited about the opportunity to touch the lives of millions of families across the country by helping them extend their household budgets through this special program.”

The program will be available throughout Kroger stores nationwide — including Kroger, Baker’s, City Market, Dillons, Fred Meyer, Fry’s, Gerbes, Hilander, Jay C, King Soopers, Owen’s, Pay Less, Ralphs, Smith’s and QFC stores.

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eBay sees boost in 1Q revenue

BY CSA STAFF

SAN JOSE, Calif. eBay posted first quarter revenue of $2.19 billion, up $424 million from the same period last year. Revenue growth was driven primarily by Marketplaces net transaction revenues, the ongoing expansion at PayPal, Skype and the company’s global classifieds business. The company recorded net income on a GAAP basis of $460 million or 34 cents per diluted share, and non-GAAP net income of $562 million or 42 cents per diluted share.

This was a very strong financial quarter for the company, said eBay president and ceo John Donahoe. The results reflect the strength provided by our diverse portfolio of businesses. Our stability and growth continues to give us the confidence to make innovative changes to our products to keep customers engaged for years to come.

For the full year 2008,eBay now expects net revenues in the range of $8.7 billion to $9 billion with GAAP earnings per diluted share in the range of $1.35 to $1.40 and non-GAAP earnings per diluted share in the range of $1.70 to $1.75.

For the second quarter 2008, eBay now expects net revenues in the range of $2.1 billion to $2.15 billion with GAAP earnings per diluted share in the range of 30 cents to 32 cents and non-GAAP earnings per diluted share in the range of 39 cents to 41 cents.

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