(Patrick Fagan)

Citibank Raises Fees For Accounts, But Plans To Offer Free Credit Reports To Some Customers

Citibank is poised to become the second financial institution to provide customers with free credit scores each month. But that’s only if customers stick with the company after its latest fee hike. [More]

Sears Inventory Clerk Accused Of Stealing $2.6 Million In Merchandise

Sears Inventory Clerk Accused Of Stealing $2.6 Million In Merchandise

If Sears wants to lose slightly less money in the last quarter of 2014, maybe the company needs to check its employees’ metaphorical pockets. For example, there was the employee in a New Jersey distribution center who was recently arrested and accused of stealing merchandise worth $2.3 million, with a retail value of $3.7 million, and selling or bartering the merchandise to people in multiple states. [More]

Sears Closer To Goal Of Becoming Landlord, Leases Parts Of Seven Stores To Primark

Sears Closer To Goal Of Becoming Landlord, Leases Parts Of Seven Stores To Primark

Back in June, we pointed out something interesting about Sears and Kmart: part of the company’s comeback plan is to rent or sell any stores that it can. Vacant buildings seek new owners or tenants, and stores that will remain in business want to sublet part of their space to a roommate to keep the lights on. Today, Sears announced that they’re renting seven spaces to Irish clothing retailer Primark, closing one of their stores to rent out instead. [More]

Kmart Clarifies Layaway Rules For Closing Stores, No One Tells Kmart Employees

Kmart Clarifies Layaway Rules For Closing Stores, No One Tells Kmart Employees

Earlier this week, we shared with you the complaint of some Kmart customers in Ohio who placed items on layaway before learning that the store they had visited was about to close. This affected their payoff date and payments, but a Sears Holdings representative contacted media outlets sharing this story and explained that this is not Kmart’s policy. Unfortunately, nobody bothered to tell people who work at this Kmart. [More]

Layaway Customer At Closing Ohio Kmart Told To Pay Up Before Store Closes

Layaway Customer At Closing Ohio Kmart Told To Pay Up Before Store Closes

Kmart started its Christmas-themed advertising back at the beginning of September, with an ad promoting its layaway program. Only after the holiday layaway season kicked off, Kmart announced a fresh round of store closings. This included two stores in Ohio, which have told customers that they have to pay off their layaway accounts by November 1st. UPDATE: The deadline may indeed not be November 1st. [More]

Sears Apologizes For Selling Swastika Rings In Online Marketplace

Sears Apologizes For Selling Swastika Rings In Online Marketplace

After a third-party listing for a men’s “Thai silver Swastika ring” popped up on Sears’ online Marketplace, the company has pulled the “punk rock style” jewelry and has been busy apologizing to upset customers for selling it in the first place. [More]

(pixeljones)

Kmart Announces Credit And Debit Card Breach That Began In September

Remember how this morning, we explained why it is inevitable that if you shop anywhere, your payment data or personal information will be part of a hack? On Friday evening, Kmart dropped the news that they have also been hacked, with malware installed in their in-store payment system. They have not yet announced how many customers have been affected. [More]

Report: Amazon Will Open A Real-Life Store In Manhattan

Near here. (Joel Zimmer)

Back in the 1920s, catalog retail giant Sears opened massive spaces in major cities that served as combination retail stores and regional distribution centers for catalog goods. These centers closed in the ’80s and ’90s, but now online retail giant Amazon.com is following the same pattern in a tiny way, opening a combination retail store and pick-up center in New York City, across the street from the Empire State Building. [More]

JCPenney Will Make You The Most Fashionable Family In 1986

JCPenney Will Make You The Most Fashionable Family In 1986

The winter holidays are coming up, with family gatherings and parties that you don’t want to attend, but have to look nice for anyway. That means it’s time to go shopping for red sport coats and bow-bedecked blouses, to keep your family looking sharp! Because it’s always 1986 in my imagination, let’s go to…JCPenney. [More]

Suppliers Are Concerned That Sears Can’t Pay Its Bills

Suppliers Are Concerned That Sears Can’t Pay Its Bills

The holiday season is crucial for American retailers, and Sears is trying to make sure that they actually have some merchandise on the shelves in case any customers wander in on their way to another store from the vast, empty parking lot. Filling those shelves will be harder: there are reports that suppliers have less confidence in Sears’ ability to pay its bills than they used to. [More]

(Jim and Tiffany Kelly)

Sears To Sell Sears Canada Stake To Raise More Cash

Sears Holdings Corporation, the company that runs Sears and Kmart, needs to raise some cash to get through the rest of the year. When a person needs cash, they look around the house for things to sell. Sears did that, and what it saw was Sears Canada. The company announced today that it will sell part of its 51% stake in the company to current Sears Canada shareholders. You’ll never guess who’s buying! [More]

September Recall Roundup – Toppling Televisions And Lead-Painted Sunglasses

September Recall Roundup – Toppling Televisions And Lead-Painted Sunglasses

In the Recall Roundup for September, smoke alarms fail to go off, kids’ sunglasses are decorated with Disney characters rendered in lead paint, and a cooking thermometer adds a little something extra that you didn’t want to your food. [More]

(smohundro)

Retail Experts: Sorry, But Stores Will Open Even Earlier This Thanksgiving

In 2013, we were scandalized that retailers rolled back their opening times, kicking off the Black Friday festivities as early as 6 A.M. on Thanksgiving Day. Not everyone found this idea horrifying, though, because retailers reported record Thanksgiving weekend sales last year. In their desperation to boost sales somehow by the end of 2014, experts in the industry say that America’s retailers are going to ignore that whole idea of a Thanksgiving holiday again this year. [More]

Artist Claims Someone Stole Her Painting From Etsy And Is Now Selling It Through Walmart

Artist Claims Someone Stole Her Painting From Etsy And Is Now Selling It Through Walmart

For millions of artists Etsy.com offers a personalized marketplace to sell hand-crafted, unique items without the hassle of mass production or working with national retailers. Only that’s not how it’s working for one artist who claims her painting is being sold through Walmart’s website without her permission. [More]

(Scott Miller)

$400M Loan From Its Own CEO Is Only 1/10 Of What Sears Needs To Stay Alive

I don’t know about you, but if someone loaned me $400 million, it would just about cover all my debts. But I’m not a sagging national retail operation that hasn’t been relevant in decades. If I were, then I’d probably need a much, much, much bigger loan to get out of hock. [More]

Sears Survives For Now, May Not Make It Through 2016

Sears Survives For Now, May Not Make It Through 2016

Earlier this week, we learned that Sears Holdings Corporation is borrowing $400 million to pay its bills from a hedge fund owned by its own CEO. Yet experts look at this transaction from the outside and wonder: what does it tell us that the company’s own CEO has stopped offering it unsecured credit? [More]

Sears Promises 5-Minute Returns And Exchanges Without Leaving Your Car

Sears Promises 5-Minute Returns And Exchanges Without Leaving Your Car

Sears is expanding the number of in-person services that they offer to customers who are horrified at the prospect of walking into a Sears. Now you can perform in-person returns and exchanges at your local store, but without getting out of your car. What kind of wizardry is this? It’s the department store chain’s new bid to win over customers with ease and convenience. [More]

Sears Borrows $400 Million From Its CEO, No Conflict Of Interest Here

Sears Borrows $400 Million From Its CEO, No Conflict Of Interest Here

Sears Holdings Company keeps losing money, and they need to borrow some cash. What do you do when you have trouble getting a loan and really can’t afford to pay a lot of interest on the money you desperately need? You ask your parents. In the case of Sears, its dad is Eddie Lampert, the company’s manifesto-writing chairman, CEO, and biggest investor. [More]