(markheybo)

Sears Announces Final Two Stores They’ll Be Sharing With Primark

Last year, as part of their “taking on roommates” strategy of keeping their doors open, Sears announced that they were leasing parts of seven stores to Primark, a clothing retailer out of Ireland. Sears has finally named all seven of the stores where Primark will be moving in. All seven are in the Northeast. [More]

Sears Pension Fund Requires Cash Infusions From Sears

Sears Pension Fund Requires Cash Infusions From Sears

Sears really didn’t need any more problems, financial or otherwise. Yet the company does have a problem that doesn’t involve its loss of $1.7 billion last year, run-down stores, fleeing customers, and alleged problems with suppliers? The company’s employee pension plan also isn’t doing very well, which has been another drain on the company’s finances. [More]

(bluwmongoose)

NY AG Probing Gap, Target & 11 Other Retailers For Possibly Illegal On-Call Scheduling Practices

Over the past several years, companies that employ hourly workers in New York have come under scrutiny for a variety of practices, including not providing reimbursement for uniforms to requiring some work be performed off the clock. Today, the state attorney general’s office began scrutinizing another practice by major retailers: the use of on-call scheduling. [More]

(JeepersMedia)

Sears Teams Up With Simon Property Group To Generate $114M In Revenue

As Sears continues to shake out all its piggy banks and check under every single couch cushion it has for spare change, the retailer chain is also looking to outside sources to help it raise some revenue. The company has teamed up with mall king Simon Property Group to create a new company that will bring in $114 million extra for Sears, money it sorely needs. [More]

Sears Promises Early Payment To Vendors, Ties Up Cash Flow

Sears Promises Early Payment To Vendors, Ties Up Cash Flow

While Sears struggles to get customers into its stores and lost $1.7 billion last year, the retailer is also encountering problems in keeping its shelves stocked with merchandise. The company’s vendors are reportedly nervous to ship to the retailer given its poor financial results and touchy cash flow situation. Vendors are asking Sears to pay their bills sooner in exchange for a discount. This ties up tens of millions of extra dollars’ worth of capital up at a time. [More]

Apple Stores Rake In Money, Get Mall Rent Breaks

Apple Stores Rake In Money, Get Mall Rent Breaks

An article in the Wall Street Journal today forced me to face a difficult truth about myself: I only go to the mall when one of my Apple products breaks or I want to test makeup. I’m not alone in this, apparently, because Apple Stores are replacing department stores as a driver of traffic to malls, and they’ve worked out unique rent arrangements because of that. [More]

(Scott Miller)

Sears Holdings Lost $1.7 Billion In 2014, Considers This An Improvement

Sears Holdings has many assets: mostly, stores in malls that are slumping toward irrelevance, and strong brand recognition and loyalty among Americans over age 50 or so. The company is fighting to stay in business, and current efforts like offering Sears Canada stock to investors and selling stores to a real estate investment trust and leasing them back are part of that effort. Is all of this working? Well, Sears leadership sounds optimistic. [More]

(Belinda Hankins Miller)

The Best & Worst Store-Brand Deals At Lowe’s, Home Depot & Sears

Need to buy a snowblower, light bulbs, and some paint? You might figure, “Oh, I’ll just head to Home Depot (or Lowe’s, or Sears) and get it all done in the same trip.” But just because these stores all offer one-stop shopping for most home goods, price and quality of store-brand and private label products can vary greatly depending on the retailer. [More]

Delta Testing 20-Minute Guarantee On Checked Bags For Frequent Fliers. What’s The Catch?

Delta Testing 20-Minute Guarantee On Checked Bags For Frequent Fliers. What’s The Catch?

If you’ve been stuck waiting for your bags at an airport luggage carousel in recent years, you’ve probably overheard someone grouse — or maybe done a bit of grousing yourself — that “I paid these guys extra to check my bags; the least they could do is not make me stand around like a fool for an hour.” In an effort to cut down on said grousing, Delta has quietly launched a limited-time test of a 20-minute guarantee for baggage delivery for its SkyMiles members, though there are so many conditions that it may be an empty promise. [More]

(Scott Miller)

Credit-Swap Traders Think Sears Will Fail In The Next Year

Credit default swaps are a confusing concept, since some forms resemble gambling on the failure of a company without even owning any stock in it. As a consumer, especially if you’re someone who likes to shop at Sears, you should know that now that Radio Shack has declared bankruptcy, the hot retailer that credit swap traders are betting will fail is Sears. [More]

(Samuel M. Livingston)

National Grid Cuts Off Mall’s Electricity For Apparent Non-Payment

Rotterdam Square Mall, outside of Schenectady, NY, is not doing so well. It keeps losing stores, as dying malls tend to do, with its Gap and Macy’s shutting down early this year. Yesterday, something unusual happened when the mall’s power went out…not because of weather or supply issues, but allegedly because of an unpaid bill. [More]

(Karen Chappell)

New Lands’ End CEO Sees Company As A ‘Global Lifestyle Brand’

When you think of “Lands’ End,” you probably don’t think “high fashion.” Yet the brand has hired Federica Marchionni, the president of Dolce & Gabbana USA, to be the company’s new CEO. Will Marchionni be able to turn Lands’ End into a global luxury brand and help it find a more profitable identity after breaking off its 13-year relationship with Sears? [More]

Just Because Your Kmart’s Shelves Are Empty, That Doesn’t Mean It’s Closing

Just Because Your Kmart’s Shelves Are Empty, That Doesn’t Mean It’s Closing

As Sears Holdings, the parent company of Kmart and Sears, tries to save itself from impending doom, the company is closing a number of its weaker stores. In the current round of cuts, Kmart stores are heavily affected, but the company wants to assure residents of one California town that in spite of empty shelves, their local Kmart store is not about to close. [More]

8 Things We Learned About The End Of Abercrombie & Fitch’s Jeffries Era

8 Things We Learned About The End Of Abercrombie & Fitch’s Jeffries Era

This week, Bloomberg Businessweek asks the question: can Abercrombie & Fitch be saved? Now that the retailer is losing sales, it has removed logos from its clothing, introduced the color black, and started selling some clothes above women’s size 10. (Mostly online, of course.) Is that enough to save the company, which for years was controlled by a CEO who saw himself, at age 70, as exactly like his 25-year-old ideal customers? [More]

Sears Canada Offers Criticism Of Target Canada, Discount And Jobs To Workers

Sears Canada Offers Criticism Of Target Canada, Discount And Jobs To Workers

Last week, Target announced that it is fleeing Canada, giving up on its ill-fated expansion and closing all 133 of its poorly-stocked stores that nobody wants to shop in. An unlikely source has publicly offered support to Target employees who are about to lose their jobs: quasi-competitor Sears Canada. [More]

Sears To Close Parts Distribution Center In Dallas, Lay Off 77

Sears To Close Parts Distribution Center In Dallas, Lay Off 77

The new year has barely started, but it’s already time to shed a few more tears for Sears. The American retailing legend is trying to stage a comeback as a place where Americans are willing to shop again. Part of that comeback is shedding stores and facilities that it no longer needs. It’s time to add facility to that list: a parts distribution center in Dallas that employs 77 people. [More]

Why Are There So Many Dead Malls? The Middle Class Is Dying, Too

Why Are There So Many Dead Malls? The Middle Class Is Dying, Too

Dead malls are in the news often lately, whether they’ve become self-aware, are being reduced to rubble, or are being turned into condos or houses of worship. Even teens don’t want to hang out there anymore. Why is it, though, that malls that once clothed and entertained the middle class are dying out? What, if anything, will take their place? [More]

(Nicholas Eckhart)

Clothing Company Sues Sears Claiming It Routinely Canceled Orders, Then Refused To Pay

When you’re a company that’s struggling not to lose customers and you’ve been trying to build yourself up to some semblance of your formal glory, everything matters and any negative news isn’t going to help. Sound the pity horn if you have one, because there’s yet more bad news for Sears: One of its suppliers is suing the company, saying Sears would “routinely and deliberately” cancel already placed orders and then refuse to accept delivery or pay up. [More]