eddie lampert

Nicholas Eckhart

Here’s How CEO Eddie Lampert Could Survive A Sears Bankruptcy Just Fine

Edward S. Lampert is the manifesto-writing chairman, CEO, and biggest shareholder of Sears Holdings. Lampert’s hedge fund keeps lending the flailing retailer money, but if the parent company of Sears and Kmart doesn’t manage to escape its death spiral, Lampert won’t lose everything. [More]

Nicholas Eckhart

Sears CEO Tells Employees Things Look Great After Losing $2.2 Billion In 2016

Years ago, Sears Holdings chairman Eddie Lampert came to our attention by publishing a 15-page manifesto about pretty much everything. Since then, Lampert has taken on the job of CEO, despite not having any experience in the retail business and having what at times seems like an active dislike of the retail business. He periodically issues mini-manifestos for employees and for the public about how everything is fine, and published another this morning. [More]

Scott Miller

Sears Lays Off 130 Corporate Employees, Still Hoping To Escape Death Spiral

Sears Holdings, the parent company of Sears and Kmart, had a pretty bad year in 2016. The duo of once-mighty retailers is now locked in a death spiral, selling its real estate, its own iconic brands, and closing stores to stay afloat. And now Sears Holdings is laying off 130 corporate employees. [More]

JeepersMedia

Sears Holdings Outlines New Plan To Escape Death Spiral

Everyone except chairman and CEO Eddie Lampert thinks that Sears Holdings is in an inescapable death spiral, as the company sells its brands and real estate and lays off employees. Today, the company outlined plans for the near future that are more of the same: selling more real estate, selling off more key Sears brands, and depending on the Shop Your Way rewards program and e-commerce when the customers it still has aren’t especially interested in either. [More]

JeepersMedia

7 Things We Learned About Sears Holdings’ Apparent Death Spiral

According to Eddie Lampert, CEO and Chairman of Sears Holdings, the company is in the middle of a “transformation” into a profitable enterprise that integrates online and offline retail. Yet everyone from former high-ranking executives to anyone who has ever set foot in a Kmart says the retailer is in an inescapable death spiral. [More]

Scott Miller

Sears And Kmart Pretend To Run A Retail Business For Another Quarter

Sears Holdings, the company that owns Sears and Kmart, is focused on “restoring profitability,” but so far the only method that the massive department store chain has found to do that since 2012 is by selling its stores to an affiliated real estate investment trust. Sears has a lot more real estate to sell, and could keep this charade up for a while yet. Will it? [More]

Scott Miller

As Sales Continue To Drop, Sears Borrows $300 Million From Its Own CEO

As more shoppers go online — or turn to retailers that don’t feel like they’ve just given up — same-store sales at Sears and its corporate kin Kmart have continued to sink, leading the once-great department store chain to borrow $300 million from the hedge fund owned by none other than Sears Holdings CEO Eddie Lampert. [More]

Nicholas Eckhart

Kmart Employees Report Sudden Merchandise Purges, General Sense Of Doom

Kmart isn’t closing all of its stores. Nope. That’s the company’s official policy, and what they tell anyone who asks. Yes, they’re closing some stores, both gradually and in big batches, but that’s part of the company’s “transformation from a traditional, store-network based retail business model to a more asset-light, member-centric integrated retailer.” Yet some employees are quietly worried that the whole chain is about to shut down. Update: Kmart denies this report. [More]

Nicholas Eckhart

Sears Holdings Cares More About Wall Street Than About Customers, And That’s Why It’s Doomed

Eddie Lampert, the manifesto-writing hedge fund manager who runs Sears Holdings, the company that owns Sears and Kmart, doesn’t understand retail. That’s isn’t always a bad thing in a manager: sometimes leaders with fresh perspective bring in fresh ideas. For Sears and Kmart, it’s meant over a decade of no investment in the company and the slowest liquidation and dismantling in retail history. [More]

Mark Clifton

The 5 Meanest Quotes From Report On Sad State Of Sears

Last week, Sears all but admitted that it was looking to cast off the little that remains of its identity with the possible sell-off of its signature house brands Kenmore, DieHard, and Craftsman. What the heck happened to this once-great pillar of American retail? A number of industry insiders have their theories, and they aren’t pulling punches. [More]

Sears Loses $580 Million In Last Quarter Of 2015, Still Working On That ‘Transformation’ Thing

Sears Loses $580 Million In Last Quarter Of 2015, Still Working On That ‘Transformation’ Thing

Earlier this week, we received an email from a reader with a tip for our Sears and Kmart store closings list. We checked it out and learned that her local Sears store was actually staying open, which took her by surprise. “It sure looked like that part of the mall was being taken down,” she wrote, relieved, mirroring many shoppers’ reactions to the continued existence of Sears and Kmart as a company. [More]

Sears-Affiliated Real Estate Investment Trust Raises $1.6 Billion

Sears-Affiliated Real Estate Investment Trust Raises $1.6 Billion

If you’ve always secretly wanted to be the partial landlord of a Sears or Kmart store, you have some unusual and specific life goals. You can also achieve your goal as of this week. The real estate investment trust spun off from Sears Holdings, Seritage Growth Properties, is now selling shares to the public, and the offering has been successful so far, raising more than $1.6 billion. [More]

Sears Leadership Still Convinced That Rewards Program Will Save The Company

Sears Leadership Still Convinced That Rewards Program Will Save The Company

Shop Your Way Rewards is not a difficult program to join. The process consists of giving your e-mail address to a cashier at Sears or Kmart, and…that’s pretty much it. It doesn’t cost anything. Yet the leadership of Sears Holdings Corporation remains fixed on the program and the idea of having “members” rather than customers, and we still can’t figure out why. [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]

Eddie Lampert Blogs Mini-Manifesto About Why Sears Has Shed 200 Stores

Eddie Lampert Blogs Mini-Manifesto About Why Sears Has Shed 200 Stores

Americans seem to love and hate their Kmart and Sears stores: our posts linking to unofficial but comprehensive closing lists have been very popular in the last few weeks. Americans apparently love to complain about their Sears Holdings stores, but don’t really want them to go away. Sears Holdings CEO and chief manifesto-writer Eddie Lampert recently took to the company’s blog to explain why the chain is getting rid of up to 200 stores. [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 CEO On Company’s Troubles: “Sometimes You Have To Go Backwards To Go Forwards”

Sears CEO On Company’s Troubles: “Sometimes You Have To Go Backwards To Go Forwards”

The bad news for Sears? Stores will continue to close. But the good news, according to Chairman and CEO Eddie “Have You Read My Manifesto?” Lampert, is that just means Sears is living in the present, not the past. But “sometimes you have to go backwards to go forwards.” Okay, now we’re confused… [More]