Sears, Roebuck and Co.

Sears Gets $100M Loan From CEO Eddie Lampert
October 6, 2017 at 11:40 am

Sears Holdings Corp. is getting another cash infusion from CEO Edward Lampert, just in time for the key holiday season. Lampert has agreed to loan Sears $100 million through his ESL Investments fund — if the retailer agrees to pledge more stores or other assets as collateral. The agreement, disclosed in a recent filing with…

Sears Names Second CFO in 7 Months
April 26, 2017 at 11:16 pm

Sears Holdings Corp. named its second finance chief in less than a year last Friday, as the struggling department store chain updated investors on its restructuring plan. The Hoffman Estates, Ill.-based company named Rob Riecker finance chief effective immediately. Riecker was previously controller and head of capital markets activities, and has been with Sears since 2005.…

Retailers Need to Master Building Shopping Communities in 2017
February 7, 2017 at 9:19 am

Wow. A month into 2017 and The Limited and Wet Seal  are closing their doors forever. Hundreds of stores gone, thousands of jobs gone. The rest of the brick-and-mortar retailers panic and wonder whether they can slash prices and profit margins again. Many are throwing up their hands, muttering that it’s impossible to fight the…

Sears CEO to Give $200M to Struggling Retailer
January 3, 2017 at 10:35 am

Sears Holdings Corp. CEO Eddie Lampert is opening his wallet once again to help keep the struggling retailer in business. Lampert, a hedge fund manager and Sears’ biggest investor, will offer a $200 million letter of credit to the department store chain through affiliates of his firm, ESL Investments Inc. The amount could be expanded to…

Los Angeles Prosecutors Sue 4 Retailers for Deceptive Advertising
December 12, 2016 at 10:03 am

The Los Angeles city attorney’s office has sued four retailers, alleging deceptive advertising that it says misled shoppers into believing that thousands of products were on sale at a hefty discount. The retailers — J.C. Penney, Sears, Kohl’s and Macy’s — falsely advertised high “list” or “regular” prices on merchandise that was never actually for sale at that…

Kmart to Close 64 Stores
September 20, 2016 at 11:27 am

Kmart is closing 64 stores across 28 states. Sears Holdings, which owns Sears and Kmart, informed Kmart employees of the closures on Friday, according to several local news reports and multiple employees who spoke with Business Insider. The stores that are closing will begin liquidation sales on Sept. 22 and close by mid-December, employees said. Total Retail's…

Retailers Announce Deals to Compete With Prime Day
July 11, 2016 at 1:26 pm

Black Friday is coming five months early for some retailers. Stores including Target, Sears and Banana Republic are offering deals around the same time as Amazon.com’s Prime Day sale, which occurs tomorrow. Competing retailers are betting that customers in the mood to shop — and maybe do some online price comparison — will head to more than just Amazon. Total Retail's…

Sears to Accelerate Store Closing Plan
February 9, 2016 at 10:16 am

Sears says it will accelerate plans to close unprofitable stores and will consider additional staff cuts as it tries to stem the red ink after what it called a "challenging" holiday selling season. Sears Holdings on Tuesday said fourth-quarter sales in stores open at least a year fell 7.2 percent in Kmart stores and 6.9 percent…

Sears Incentivizes App Downloads With Free In-Store Shipping
December 8, 2015 at 10:04 am

Sears is fueling more downloads of its mobile application this season by asking in-store shoppers to enable location settings on their smartphones, select and pay for out-of-stock items within the app, and receive complimentary shipping. As retailers go head-to-head in their bid to capitalize on holiday sales, Sears is attempting to bump up digital purchases…

Sears Launches Home Services Site
November 3, 2015 at 10:26 am

Sears, which recently launched a “Meet With an Expert” service for online shoppers, is upping its online offerings once again. The company announced on Monday the launch of SearsHomeServces.com, a new website that promises to “simplify how homeowners repair, improve and maintain their home.” The new service, according to Sears, will provide average cost and…