sears

Ted Murphy

Sears To Sell Craftsman Brand To Black & Decker For $900M

Sears isn’t just trying to stave off the grim reaper by closing stores and borrowing hundreds of millions of dollars from CEO Eddie Lampert twice in two weeks. The beleaguered retailer is selling off its iconic Craftsman brand to Stanley Black & Decker for $900 million. [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]

(Mike Mozart)

Lawsuit: Sears, JCPenney, Kohl’s & Macy’s Misled Consumers On Sale Prices

In recent years, a spate of retailers have been accused by customers of advertising “false” original prices on discounted or outlet merchandise in order to make consumers believe they are getting a steal of a deal. Now, the city of Los Angeles is joining the fray, suing JCPenney, Kohl’s, Sears, and Macy’s, alleging that in order to increase sales the companies used so-called “false reference pricing.”  [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]

Meet Minneapolis

Only Three Stores Opening On Thanksgiving At Mall of America

The Mall of America, tourist destination and temple of commerce, announced last month that it would not be officially opening on Thanksgiving Day, though it gave individual stores the option to open if they wanted. The only retailers to take the mall up on that offer were Sears, Macy’s, and The Crayola Experience, and Crayola is the only store staying open that lacks its own entrance. [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 Will Open On Thanksgiving Then Close For Five Hours

For every retailer like REI, hhgregg, and TJMaxx that proudly announces they are bucking the trend of opening their doors on Thanksgiving Day, there’s a counterpart sticking to its guns and opening to holiday shoppers on an actual holiday. To that end: Sears will open at 6 p.m. on Thanksgiving. [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

NC Mall Wants To Evict Sears For Low Sales, Lack Of Effort

Sears had a deal with the Holly Hill Mall in Burlington, NC that isn’t unusual: the retailer gave the mall a small percentage of its sales instead of paying a fixed rent. That amount has evidently fallen over the years as the popularity and business prospects of Sears fell, and now the mall has sued Sears for failing to keep up its end of the lease. [More]

Nicholas Eckhart

Report: Sears Holdings, Claire’s, Rue 21 At Risk Of Bankruptcy And Liquidation

Think of your favorite troubled or defunct retailer: does it or did it have a reason to exist? That’s the deceptively simple question raised in a new report from financial ratings firm Fitch Ratings, which predicts that the combination of e-commerce, disinterest in malls, and a lack of strong brand identity for some troubled retailers could spell doom in the next year or so. [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]

Sears Bringing Paint Back To Store Shelves Nationwide

Sears Bringing Paint Back To Store Shelves Nationwide

Now that home improvement materials are selling like hot cakes, Sears is hoping it can capitalize on the DIY trend by selling paint for the first time in four years. [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]

Sears Trying New “Fashion-Forward” In-Store Concept

Sears Trying New “Fashion-Forward” In-Store Concept

Sears may be closing stores faster than we can keep up, but the once-great retailer is apparently not ready to throw up its hands and give up. The department store chain has embarked on yet another tactic it hopes will finally be able to drum up some sales, righting the sinking ship. The plan this time? Showcase foreign apparel brands with a store-within-a-store concept.

[More]

Nicholas Eckhart

JCPenney CEO: Macy’s & Sears Closures Are Pretty Great For Us

It’s kind of a no-brainer: when one company loses, its rivals stand to gain. And so it is for JCPenney, amid the turndown in traditional retail sales that’s causing Macy’s and Sears to close stores around the country.

[More]