When you own more than 25% of Sears, it gets you a seat on the retailers’ board of directors and gives you the opportunity to help steer the company in the right direction. So what does it say about Sears Holdings that its former second-largest investor has decided to liquidate the mutual fund that includes Sears, and vacate its seat at the table? [More]
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5 Things Amazon Should Remember As It Becomes Sears Circa 1926
By 9.26.17
As much as Amazon’s “Everything Store” approach might seem disruptive, particularly as the retailer branches out into supermarkets and physical stores, it’s not that different from what Sears did nearly a century ago as its wildly successful mail-order business transformed into a bricks-and-mortar mega-chain. The question is: Can Amazon keep from making the same mistakes that led to Sears’ fall from grace? [More]
Here Are The 28 Kmart Stores Closing Later This Year
By 8.24.17
Sears Holdings, the parent company of Kmart and Sears, shared in its most recent quarterly earnings report that it plans to close 28 more Kmart stores. The company saved the closures list for later in the day, and now we have it for you. [More]
Kmart Closing 28 More Stores, Cites Ongoing ‘Transformation’
By 8.24.17
The news in Sears Holdings’ report to investors isn’t as bad as it could be, but it’s devastating if you’re one of the employees or customers of the 28 Kmart stores that are part of a new round of closures that the company announced today. [More]
As Sears And Kmart Shrink, Amazon Grows
By 7.20.17
Earlier today, we shared the announcement that Amazon and Sears would be teaming up to sell Kenmore brand appliances, beginning with air conditioners. The retailers have more in common than you might think, though. [More]
Sears Holdings CEO Lends Company Another $200M To Stay Afloat
By 7.18.17
As other retailers around it go out of business or reorganize, Sears Holdings, parent company of Kmart and Sears, is still in business somehow. Why? Those other chains don’t have what SHC does: A massive base of stores that it owns and can sell, and a CEO able to lend the company a few hundred million here and there. [More]
43 More Sears And Kmart Stores Are Closing: Is Yours On The List?
By 7.7.17
Sears Holdings, parent company of Sears and Kmart, announced today that it plans to close down another 43 stores. As with previous rounds of closings, Kmart stores dominate the list, with 35 stores in 21 states set to turn their blue lights out forever. [More]
Report: Sears Closing 20 More Stores, Opening One
By 6.22.17 — Updated: 6.27.17
Sears Holdings Corporation, parent company of Sears and Kmart, has recently been on a store-closing spree, seeking to lower its expenses to escape a looming retail death spiral. Today, the company announced the opening of a new appliances and mattresses concept store, while also informing employees that the company plans to close another 20 Sears department stores. [More]
Retail Apocalypse Spreads North: Sears Canada Files For Bankruptcy
By 6.22.17
The same factors hurting department stores and Sears stores in particular are affecting retailers north of the Canadian border as well: Today Sears Canada announced that it’s applied for creditors protection, the equivalent of Chapter 11 bankruptcy, and plans to reorganize and shed some of its current stores. [More]
Sears Laying Off 400 Employees At HQ In Addition To Store Closures
By 6.13.17
Last week, we learned that Sears Holdings, parent company of Kmart and Sears, was planning to close a few dozen more stores as part of its ongoing “transformation” from a nationwide retailer into a handful of appliance showrooms and an online rewards points scheme. Today, the company announced more cuts among staff at its headquarters outside of Chicago, eliminating 400 positions. [More]
Former Sears Executive: Retailer Has “No Capacity To Operate As A Successful Company”
By 6.9.17
If you want to know what’s happening with a company, talk to insiders — or with former insiders, who are free to talk on the record. Like, for example, a former Sears executive who is now unfettered in his ability to give his honest opinion of the once-great retailer (and the man who has been steering the ship toward apparent doom). [More]
Sears Settles With One Craftsman Supplier, Files New Lawsuit Against USA-Made Hand Tool Company
By 6.7.17
After resolving its contract dispute with one supplier for Craftsman tools, Sears Holdings has filed another lawsuit against another. The company claims that negative press coverage is leading its suppliers to demand early cancellation of contracts, or unreasonable terms. [More]
Report: Sears Holdings Plans To Close 72 Stores, Mostly Kmart
By 6.7.17
Sears Holdings, the parent company of Sears and Kmart, doesn’t like articles about how many stores it’s closing. Instead, the company tries to limit news releases about its plans to local news outlets. The company reportedly plans to close 49 Kmart discount stores, 16 Sears department stores, and seven Sears Auto Centers. [More]
Sears Could Stay Afloat… If It Had A Few Dozen More Tool Brands To Sell Off
By 5.25.17
Given all the doom and gloom headlines about Sears Holdings Corporation, you might be surprised to hear that the company turned a profit last quarter. Until you realize that the only reason Sears didn’t lose money is because it sold its once-beloved Craftsman tool brand to Stanley Black & Decker. [More]
Home Depot Helping To Speed Up Sears’ Death Spiral
By 5.18.17 — Updated: 5.19.17
Sears has been closing stores and selling off real estate to stave off its oft-predicted demise, but these closures and other financial decisions may also be hastening Sears’ end by turning annoyed shoppers into Home Depot customers. [More]
Sears CEO Eddie Lampert Wishes Everyone Would Stop Using The B-Word
By 5.10.17 — Updated: 6.13.17
Look, shoppers and members of the media. Eddie Lampert, the chairman, chief executive officer, and biggest shareholder in Sears Holdings Corporation, owner of Sears and Kmart, wants us to stop using the “B” word when talking about the company, because it spooks suppliers and shoppers. That word, of course, is “bankruptcy.” [More]
Sears Closing 50 Auto Centers, 92 Kmart Pharmacies
By 4.24.17 — Updated: 5.9.17
Like a sinking ship that keeps jettisoning cargo in the hope of staying afloat, Sears Holdings will soon be ridding itself of 50 Sears Auto Centers and 92 Kmart Pharmacies. [More]
Here’s How CEO Eddie Lampert Could Survive A Sears Bankruptcy Just Fine
By 3.23.17
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]
