FINANCE

Sears Holdings Cuts Jobs at Support Center

BY CSA STAFF

Dallas Sears Holdings Corp. announced that it plans to cut approximately 50 jobs at its National Claims and National Support Center in Dallas, according to a report in the Dallas Business Journal. The company issued a letter stating the layoffs would involve primarily administrative positions and would begin next month. It noted that the entire service facility is not closing. The service center is one of six nationwide.

In other news, West Virginia Attorney General Darrell McGraw said yesterday that Sears Holdings subsidiaries agreed to improve customer-service operations in the state as a response to claims that the retailer failed to comply with consumer-protection laws, according to an Associated Press report.

Sears agreed to respond “swiftly” to consumer concerns and pay $20,000 for consumer education. The retailer had been accused of various failures to resolve consumer problems with appliance sales, as well as with installation of roofing, heating and cooling systems.

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PacSun July sales down 3%

BY CSA STAFF

ANAHEIM, Calif. Pacific Sunwear of California posted July sales of $99.1 million for the four-week period ended Aug. 2, a decrease of 3% from $102.4 million during the same period last year. Same-store sales decreased 4%.

Sales for the 13-week second quarter were $312.7 million, a slight increase over last year’s $311.8 million. Same-store sales decreased 1%.

The company now expects to report earnings from continuing operations for the second quarter of fiscal 2008 in the range of five cents to six cents per diluted share.

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Survey says Home Depot top DIY retailer

BY CSA STAFF

COLUMBUS, Ohio Home Depot is still the top destination for do-it-yourself shoppers but is losing ground to the competition, according to a July retail survey from BIGresearch.

The report found that 28.5% of consumers surveyed chose Home Depot most often when shopping for home improvement products, with Lowe’s second at 22.9%. But Home Depot’s numbers were down from July 2007 when it was chosen by 31.6% of consumers, with Lowe’s up slightly from 22.2%. Wal-Mart was chosen by 6% of consumers, up from 5.4% during the same period last year.

The numbers reflect at trend that began six years ago for Home Depot. “Home Depot’s consumer share has declined since posting a high of 40.9% in July 2002,” said Pam Goodfellow, senior analyst at BIGresearch.  

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