Sears Says Reports Of Planned Store Closings Are Wrong, Won’t Elaborate

Sears Says Reports Of Planned Store Closings Are Wrong, Won’t Elaborate

Sears Holdings wants you to know that the rumors of planned store closings by the end of this year are wrong. After a report earlier today put together information from local media reports about which Sears, Sears Auto, and Kmart locations are currently scheduled to close, Sears representatives reached out to major outlets like USA Today and the Chicago Tribune to explain that the reports were incorrect. [More]

(Scott Miller)

Sears And Kmart Will Close 78 Stores By End Of 2014

Sears Holdings, the parent company of Sears and Kmart, needs to lose less money. Their current plan includes closing underperforming stores, renting out vacant space, and borrowing money from its manifesto-writing CEO. These are all very sensible things to do, but will they be enough to save Sears? [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]

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]

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]

Sears Continues Retail Death Spiral, Still Sells A Few Useful Things

Sears Continues Retail Death Spiral, Still Sells A Few Useful Things

For the ninth quarter in a row, Sears Holdings Corporation has lost money. Even as the company closes stores, rents out remaining stores, and tries desperate moves like opening early on Thanksgiving Day and making fun of itself in its own ads, the company continues to sell itself for parts in a sad retail death spiral. Yet is there anything that you should consider buying at Sears while it still exists? Are Americans who sneer at Sears missing out? Maybe. [More]

Pretty Much Every Sears And Kmart Store Is For Rent Right Now

Pete Kraynak

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]

Sears Circles Back Around To Idea Of Selling Sears Canada Stake

Sears Circles Back Around To Idea Of Selling Sears Canada Stake

Sears Holdings Corporation first started whispering that it might spin off or sell its stake in Sears Canada a few years ago, when the company first started publicly naming parts of itself that it could sell for cash. Since then, Hometown and Outlet stores are thriving as a spun-off company, so why not Sears Canada? [More]

Reader's Story Of Lackluster Lawnmower Service Exemplifies Why Sears Is Sinking

Reader's Story Of Lackluster Lawnmower Service Exemplifies Why Sears Is Sinking

It wasn’t that long ago that the Sears name actually stood for quality, service and all those other buzz words you hear in TV commercials. When people ask “What happened?,” it’s easy to point to the growth of big-box competitors like Walmart and Target, but that doesn’t paint the full picture of why the once-iconic Sears brand is now considered second-tier by many shoppers. [More]

First Sears And Kmart Closings Of 2012 Concentrated In Midwest And South

First Sears And Kmart Closings Of 2012 Concentrated In Midwest And South

Sears Holdings, owner of the perpetually troubled retailer power couple Sears and Kmart, has released the locations of 80 out of the 100 to 120 “under-performing” stores that will close in the coming months. Most of the stores on this first list are in the southern and midwestern U.S. [More]

Sears To Shutter 100 To 120 Sears & Kmart Stores After Disappointing Holiday Sales

Sears To Shutter 100 To 120 Sears & Kmart Stores After Disappointing Holiday Sales

Sears is pointing to a big drop in this year’s holiday sales as the reason they’ll have to close 100 to 120 Sears and Kmart stores in 2012. Which means it’s your fault, consumers, for failing to shell out big dough at Sears. Kidding! Mostly. [More]

Buying Sears Refrigerator Ends In Gnashed Teeth

Buying Sears Refrigerator Ends In Gnashed Teeth

Remember when stuff just worked? You bought it, brought it home, and it diligently performed its advertised function? Me neither, but suposedly there was a bygone era where products were made to last, instead made to break. In any event, we’re certainly not in those times now, and Jeff’s tale of trying to buy a simple refrigerator from Sears is proof positive. [More]