Sears, Roebuck and Co.

Sears is Saved: Nearly $5B Deal Reached With Chairman Eddie Lampert
January 16, 2019 at 1:14 pm

Sears Holdings reached a deal with its Chairman Eddie Lampert and his hedge fund ESL Investments early Wednesday, according to a source familiar with the situation, reports CNBC. The $5 billion agreement will leave roughly 400 stores open and keep the iconic retailer in business, saving close to 50,000 jobs. This comes after Sears rejected…

Court Grants Chairman Eddie Lampert One Last Chance to Save Sears
January 9, 2019 at 1:21 pm

A bankruptcy court is giving Sears another chance, offering Chairman Eddie Lampert a deal to buy the company out of bankruptcy, reports CNBC. Lampert's hedge fund ESL Investments has until 4:00 pm on Wed., Jan. 9 to pay a $120 million deposit to save the iconic retailer. Sears Holdings rejected Lampert's original $4.4 billion bid…

With More Store Closures Planned, is Sears Doomed?
August 31, 2018 at 11:38 am

In this episode of Retail Right Now, Total Retail's Caitlin Sullivan and Joe Keenan discuss what Sears latest round of store closures means for its future, as well as the steps the company can take to turn its fortunes around.

Sears, Amazon Expand Tire Installation Program
August 28, 2018 at 2:22 pm

Sears Auto Centers, a division of Sears Holdings Corp., said earlier today that it will expand its partnership with Amazon.com that provides tire installation for customers who purchase any brand of tires on Amazon, including its own DieHard brand. Initially launched at 47 Sears Auto Centers in eight metropolitan areas in May, the Ship-to-Store tire…

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…