Examples of Sears Mexico in a sentence
Excluding the effect of Sears Mexico, Sears Canada had strong retail and catalog sales performance in 1998 which was partially offset by the negative effects of a weaker Canadian dollar.
In 1997, the Company sold 60% of the outstanding shares of Sears Mexico to Grupo Carso S.A. de C.V. The sale was recorded in the first quarter of 1997 and resulted in a pretax loss of $21 million reflected in other income and tax expense of $15 million, for an after-tax loss of $36 million.
Its retail units include Sanborns, Sanborns Cafe, Sears Mexico department stores, music stores, shopping centers, and a bakery chain, El Globo.
In 1997, revenues increased 3.0% from 1996 due to Sears Canada revenues increasing 13.5% on strong retail store and catalog performance, partially offset by the loss of revenues due to the sale of Sears Mexico.
The parties are working to finalize the transfer of certain Acquired Foreign Assets comprising (1) minority interests in certain Mexican entities held by Sears Mexico Holdings Corp., and (2) equity interests in the Debtors’ non-Debtor Indian subsidiaries (1 and 2, collectively, the “Specified Foreign Assets”) to Transform Holdco LLC or its affiliates, in accordance with the Asset Purchase Agreement.
For the purposes of this Agreement, included within the Territory are Wal-Mart Mexico, Sam's Mexico, Costco Mexico, Sears Mexico, Home Depot Mexico, Target Mexico and K-Mart Mexico.
International operations were also conducted through Sears Roebuck de Mexico, S.A. de C.V. ("Sears Mexico"), a 75.5% owned subsidiary until March 1997, when the Company sold 60% of the outstanding shares of Sears Mexico to Grupo Carso S.A. de C.V. Thereafter, Sears Mexico's results are no longer included in the Company's consolidated operations.
The 1997 tax rate was increased by certain items related to the reaffirmation charge and the first quarter sale of Sears Mexico.
Xxxxxxx -------------------------- ---------------------------- Title: Title: President, Merchandising -------------------------- ---------------------------- Full Line Stores EXHIBIT A PURCHASING PARTIES Sears Full Line Stores Sears Hardware Stores Orchard Supply Hardware Orchard Hardware & Garden Sears Dealers Stores Parts America Stores Sears Service Centers Sears Canada Sears Mexico Catalog QVC Industrial Sales Direct Response TV Sears Website Sears International Marketing, Inc.
The decrease resulted from the inclusion of $100 million of revenues related to Sears Mexico in the prior year.