Deere & Company Reports Stronger than Expected Quarterly Profit and Sears Holdings May Sell its Canadian Operations
Deere & Company (NYSE: DE) reported a quarterly profit that was stronger than expected but then trimmed its outlook for full year sales of farm equipment. The company has cited deteriorating conditions in South America and the former Soviet Union. Deer's green-and-yellow tractors and harvesters fell 12 percent during the second quarter ended on April 30, , but cost cuts, a lower-than-expected tax rate and improved margins in its construction equipment unit helped offset that weakness.
Deere & Company, together with its subsidiaries, manufactures and distributes agriculture and turf, and construction and forestry equipment worldwide. The companys Agriculture and Turf segment provides agriculture and turf equipment, and related service parts, including large, medium, and utility tractors; loaders; combines, corn pickers, cotton and sugarcane harvesters, and related front-end equipment and sugarcane loaders; and tillage, seeding, and application equipment, such as sprayers, nutrient management, and soil preparation machinery. It also provides hay and forage equipment comprising self-propelled forage harvesters and attachments, balers, and mowers; and riding lawn equipment and walk-behind mowers, golf course equipment, utility vehicles, and commercial mowing equipment.
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Sears Holdings Corporation (NASDAQ: SHLD) announced that it may sell its Canadian operations. The company who is the holding company for Sears and Kmart locations, said that it's looking at strategic options for its 51 percent interest in Sears Canada. This could include the possible sale of its stake or possibly the entire Sears Canada operation. Sears Canada has around 450 stores and reported a profit last year. As Target and Wal-Mart expand their operation sin Canada, the department-store chain is facing more competition.
Sears Holdings Corporation operates as a retailer in the United States and Canada. The companys Kmart segment operates stores that sell merchandise under Jaclyn Smith, Joe Boxer labels, and Alphaline labels; and Sears brand products and services, such as Kenmore, Craftsman, and DieHard, as well as Kenmore-branded products. This segments stores provide consumer electronics, seasonal merchandise, outdoor living, toys, lawn and garden equipment, food and consumables, and apparel; and operate in-store pharmacies.
Get more information on Sears Holdings Corporation and free access to the in depth equity report at: www.TrendingWallStreet.com/stockquote/SHLD
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