Sears, Roebuck and Co.

Sears to Shutter 72 More Stores
May 31, 2018 at 2:13 pm

Sears Holdings said Thursday it will be closing more than 70 stores in 2018 as its sales continue to decline. Earlier this year, the retailer identified 100 unprofitable Sears and Kmart stores, and announced today that it will be closing 72 of these stores "in the near future." In a statement announcing its fiscal first-quarter results, Sears said:…

Sears Partners With Amazon on Tire Purchases, Installations
May 10, 2018 at 1:44 pm

Sears Auto Centers, a division of Sears Holdings Corp., announced yesterday that it's working with Amazon.com to provide tire installation and balancing for customers who purchase any brand of tires on Amazon, including its own DieHard brand. The rollout will begin in the coming weeks for eight metropolitan areas: Atlanta, Chicago, Dallas, Los Angeles, Miami,…

Sears Holdings CEO Eddie Lampert Proposes Buying Kenmore Brand
April 23, 2018 at 2:46 pm

ESL Investments, the hedge fund led by Sears Holdings CEO Eddie Lampert, is proposing to buy the Kenmore brand, Sears' Home Improvement business, its PartsDirect division and some of the chain's real estate. In a letter to Sears’ board on Friday, ESL said: "We continue to see value in Sears and its underlying assets, and believe strongly…

Best Buy Impacted by Same Data Breach as Sears
April 9, 2018 at 2:14 pm

Best Buy said on Friday that some of its customers’ credit card information may have been compromised in a data breach that also hit Sears and Delta Air Lines. All three companies use a third-party firm, [24]7.ai, to provide online and mobile chat services for customers. Best Buy said in a blog post that [24]7.ai…

Sears to Bring Back its Iconic Holiday Catalog
October 26, 2017 at 11:47 am

This week, Sears announced it's bringing back its iconic holiday catalog. The department store chain hasn't had a catalog since 2011. CNBC reports Sears has "reinvented" the 120-page gift guide, which includes holiday decor, home furnishings, games and toys, appliances, apparel and more. There will also be a digital version available on the retailer's app…

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…