Why Sears Holdings Stock Is Sliding Today
Shares of Sears Holdings (NASDAQ: SHLD) were headed south today after the department store chain broke off its 100-year-old relationship with Whirlpool Corporation (NYSE: WHR) over a pricing dispute. In a memo to employees, Sears said, "Whirlpool has sought to use its dominant position in the marketplace to make demands that would have prohibited us from offering Whirlpool products to our members at a reasonable price."
As of 3:08 p.m. EDT, Sears stock was down 7.9% on the news.
Image source: Sears.
Source: Fool.com