Sears, Roebuck and Co.
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…
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…
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…
September 3, 2015 at 11:41 am
Kmart, a discount department chain owned by Sears Holdings Corp , has paid $1.4 million to resolve allegations it violated the False Claims Act, the U.S. Justice Department said on Tuesday. The retailer illegally used drug manufacturer coupons and gasoline discounts to convince beneficiaries of the Medicare healthcare insurance program for the elderly to fill their…
July 15, 2015 at 2:46 pm
Sears Holdings said Tuesday that Joelle Maher has joined the company as president and chief member officer of its Sears stores. Maher, 48, was most recently chief operating officer of Gymboree, a children's clothing retailer. In the newly created role, she will oversee the operation of Sears retail stores and develop strategies to improve the…
July 7, 2015 at 2:35 pm
Seritage Growth Properties, the real estate spinoff of Sears Holdings Corp., made its debut Monday on the New York Stock Exchange and estimated that it raised about $1.6 billion from the offering. Sears, which is dealing with slumping retail sales, formed the real estate investment trust to extract more revenue from its properties. It plans…
June 23, 2015 at 2:28 pm
Wal-Mart and Sears, two of the country's largest retailers, will remove all Confederate flag merchandise from their stores. The announcements are the latest indication that the flag, a symbol of the slave-holding South, has become toxic in the aftermath of a shooting last week at a historic African-American church in Charleston, S.C. Gov. Nikki Haley…
May 1, 2015
Sears partnered with mall owner Macerich Co., the latest step in the retailer’s efforts to wring more money from its real estate.
April 1, 2015
Sears Holdings Corp. will raise more than $2.5 billion by siphoning off 254 stores into a real estate investment trust, the struggling retailer said on Wednesday. The newly formed REIT, Seritage Growth Properties, will buy and lease back the Sears and Kmart stores. The company's decision to move forward with a REIT was anticipated, and represents another urgent effort to raise cash. The department store chain hasn't turned a profit for several years. It will fund the purchase, in part, with the money raised from shareholders through a rights offering.
December 1, 2014
Approximately $4 billion worth of merchandise will be abandoned in online shopping carts this year, according to a recent Business Insider Intelligence report. Sears Hometown and Outlet Stores (SHOS), a seller of home appliances, hardware and tools, is recouping some of those lost sales by letting customers bid on how much they're willing to pay for an item.
