Sears Holdings Corporation, the company that runs Sears and Kmart, has a problem. They have a lot of real estate, and not enough sales to keep all of that real estate busy. One solution is to close stores as they underperform or as their leases expire, which is what the company has been doing. Another solution? Rent out that space. For the right customer, virtually every Sears and Kmart store is up for grabs. [More]
After twelve years together, Sears and Lands’ End have officially split. They’ve been through a lot together: Sears bought the former sailing gear retailer in 2002, before the formation of the sprawling disaster that is Sears Holdings. For a while at least, absolutely nothing will change for consumers. [More]
A few weeks ago, Brian Sozzi of Belus capital Advisors did something simple enough: he went to Sears, took a bunch of pictures, and posted them on the company blog. Apparently, no one on the Internet has been to a Sears since 1997, since the post was a huge hit. Now he’s done it again for Sears’ sibling store Kmart. [More]
In our posts about Sears, we often observe that the company seems like an anti-capitalist prank, a retail giant that thrashes around aimlessly until the real estate market picks up. It turns out that we were kind of half right. Manifesto-writing Sears Holdings chairman Eddie Lampert has organized the company into battling units that compete with each other for a dwindling pile of money. [More]
Shop Your Way Rewards are one of the delightful selling points for continuing to shop at companies that are part of Sears Holdings Corporation, such as Sears, Kmart, and Land’s End. Hayden has accumulated a modest balance of these points, and wanted to spend them at Land’s end. The website won’t let him. He reported this problem to Land’s End, and no one at the company seems to care. At all. [More]
Sears Holdings chairman Eddie Lampert has unleashed a 15-page manifesto about the current economic meltdown, short-selling rules, civil liberties, and even offers a suggested reading list that includes free-market Austrian economist Friedrich Hayek.
Bad news for Sears Holdings — the parent company of Sears and Kmart lost $56 million in the first quarter, and some experts are saying that boss Eddie Lampert may have to face up to the fact that Kmart needs to close.
Aylwin B. Lewis, CEO of Sears, has been asked to step down as part of Sears’ restructuring plan, says the Chicago Tribune. In a prepared statement, the billionaire hedge fund guy who controls Sears, Eddie Lampert, explained the reason behind Mr. Lewis’ departure:
Want to see all the major appliances and repair services that your friends and neighbors… (and anyone else who you can look up in the phone book) have ever purchased at Sears?