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]

Nicholas Eckhart

Sears And Kmart Announce 150 Store Closures, Including The First Kmart

Last week, we shared a list of Kmart and Sears stores that we were able to confirm would be closing this spring. The list just grew, reaching a total of 108 Kmart locations and 42 Sears locations that will begin their store-closing sales this week. [More]

Will

Sears Borrows Another $500 Million From Its CEO Until It Can Sell More Stores

Sears Holdings, the parent company of Sears and Kmart, has lost billions of dollars in the last few years. The last time that it did turn a profit, it was because the company had just sold a few billion dollars’ worth of store buildings to its affiliated real estate investment trust. Now the company is borrowing some cash from its CEO in anticipation of raising more money the same way. [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]

JeepersMedia

Report: Suppliers Starting To Cut Sales To Sears And Kmart

Retailers’s shelves and warehouses are stocked up for the holiday season, but suppliers are reportedly holding back from the stores belonging to one company. Sears Holdings, the parent company of Sears and Kmart, reportedly is having shipments to its stores cut by suppliers, who don’t want to be stuck with the bill if the company files abruptly for bankruptcy protection.

[More]

JeepersMedia

Sears Tries Giving Away Rewards Points With Branded Credit Card

Sears Holdings, parent company of Kmart and Sears, is depending on the company’s Shop Your Way rewards program to save the company. It is a very nice rewards program, but is it enough to get customers to spend? Don’t most store cards come with special rewards or discounts? [More]

Ted Murphy

Other Tool Companies Interested In Buying Craftsman

The legend says that 89 years ago, the head of hardware at Sears Roebuck really liked the name Craftsman, and bought the trademark from an existing tool company for $500 ($6,921 in 2016 dollars). Today, parent company Sears Holdings is troubled and in need of a cash infusion, and has quietly solicited bids for Craftsman. It’s reportedly worth around $2 billion. [More]

Nicholas Eckhart

Sears Holdings CEO Blogs: Kmart Is Doing Just Fine, Thanks

Sears Holdings chairman, CEO, and chief manifesto-writer Eddie Lampert wants shoppers like you and writers like us to know something very important: Kmart is doing just fine. It has some stores that are profitable, and the retailer is continuing its turnaround plan and the “transformation” of its business into something with fewer stores and more online sales. [More]

Nicholas Eckhart

Moody’s Is Kind Of Worried About Sears Holdings, Especially Kmart

While Sears Holdings keeps trudging along its alleged “path to profitability,” Moody’s Investors Service has some doubts about the retailer’s prospects, and has downgraded its liquidity rating. That means that its analysts are concerned about the ability of Sears Holdings to keep its doors open and merchandise on the shelves. [More]

Nicholas Eckhart

Kmart Holds ‘Grand Re-Opening’ For Millennial-Focused Illinois Store

What do millennials––a generation loosely defined as “anyone younger than Consumerist’s senior staff”––want from the physical stores that they still visit? Discount chain Kmart hopes to solve that mystery, re-opening an existing store near its headquarters as a “revitalized and refreshed” concept store intended to attract younger shoppers. [More]

Nicholas Eckhart

Kmart Realizes Maybe It Should Try Communicating With Its Own Employees

Last weekend, a story hit the Internet about the current fears of Kmart employees that they’re being asked to move all stock to the sales floor because the company is in slow-motion liquidation. The communications staff at Kmart’s parent company, Sears Holdings, realized that they had to do something when news outlets began sending them questons about the employees’ accounts. Maybe they also needed to communicate a little better with store employees. [More]

Nicholas Eckhart

Kmart: Stockroom Purges Are About Efficiency, Making Employees’ Jobs Easier

Kmart is not pleased with recent news reports about the chain’s imminent doom, and today posted a blog post of its own in response. The prediction of fearful employees that the chain is about to shut down is inaccurate, the chain’s leaders say, and the stockroom purges aren’t a first step toward liquidation. [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]

No, The Deals At Store Closing Sales Are Often Not That Great

No, The Deals At Store Closing Sales Are Often Not That Great

When the bright “store closing” signs go up outside of a store that’s being liquidated, that’s meant to attract shoppers in search of deals. The problem, though, is that liquidation sales mean first marking items up to their original retail price, then gradually lowering them, meaning that prices are higher than they were when the “liquidation” started. [More]

Nicholas Eckhart

Kmart And Sears Add Stores In MI, WV, IA, LA, WI, And GA To Closings List

Sears Holdings needs to make some cuts, and has been closing its stores in addition to taking on roommates and cutting back on corporate staff. In addition to the 50 or so store closings that Sears Holdings announced locally at the beginning of the year and the 78 store closings that the company announced two weeks ago, today the news broke that three additional Kmart stores will close in Georgia, Michigan, and West Virginia. [More]

Nicholas Eckhart

Sears Holdings Will Close Additional 68 Kmart Stores, 10 Sears Stores

In their recent rounds of store closings, Sears Holdings tried something new: they announced them to the stores’ local news outlets, but didn’t release a nationwide list of stores slated to close. We started compiling our own list based on local news stories and reader tips at the beginning of this year. Late Thursday, Sears Holdings announced an additional 78 store closings, and saved us some work by putting out a national list. Scheduled to close in this round are 65 Kmarts, 3 Super K stores, and ten Sears stores. [More]

Sears And Kmart Will Sell Returned Merchandise By The Pallet To Other Businesses

Sears And Kmart Will Sell Returned Merchandise By The Pallet To Other Businesses

When you return stuff to a store or in particular to an online store, generally it doesn’t end up back on the shelf. It ends up part of a collection of other returned items, which are sold at a discount to retailers specializing in closeouts. If you’re a businessperson who needs a truckload of baby stuff or watches, this may be your chance. [More]