tears for sears

Nicholas Eckhart

Here Are The 28 Kmart Stores Closing Later This Year

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]

Nicholas Eckhart

Kmart Closing 28 More Stores, Cites Ongoing ‘Transformation’

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]

Nicholas Eckhart

As Sears And Kmart Shrink, Amazon Grows

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]

Mike Kalasnik

Sears Holdings CEO Lends Company Another $200M To Stay Afloat

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]

Nicholas Eckhart

43 More Sears And Kmart Stores Are Closing: Is Yours On The List?

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]

Nicholas Eckhart

Report: Sears Closing 20 More Stores, Opening One

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]

Jim and Tiffany Kelly

Retail Apocalypse Spreads North: Sears Canada Files For Bankruptcy

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]

Pete Kraynak

Sears Laying Off 400 Employees At HQ In Addition To Store Closures

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]

Nicholas Eckhart

Former Sears Executive: Retailer Has “No Capacity To Operate As A Successful Company”

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]

Typhoon

Sears Settles With One Craftsman Supplier, Files New Lawsuit Against USA-Made Hand Tool Company

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]

Nicholas Eckhart

Report: Sears Holdings Plans To Close 72 Stores, Mostly Kmart

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]

Nicholas Eckhart

Sears Could Stay Afloat… If It Had A Few Dozen More Tool Brands To Sell Off

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]

Michael A. Smith

Home Depot Helping To Speed Up Sears’ Death Spiral

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]

Scott Miller

Sears CEO Eddie Lampert Wishes Everyone Would Stop Using The B-Word

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]

Nicholas Eckhart

Sears Closing 50 Auto Centers, 92 Kmart Pharmacies

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]

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]

Scott Miller

Sears Changes Its Tune: No, We’re Totally Not Doomed

After being refreshingly candid in its annual report, admitting that there is a lot of “doubt” about its ability to remain afloat in the long run, Sears Holdings is now doing an about-face, with its chief financial officer assigned to handle damage control. Get your “Sears Holdings Corporate Announcement Bingo card” ready. [More]

Nicholas Eckhart

Sears Holdings Admits: Yep, We’re Probably Doomed

Like a chess player who realizes their only chance of not losing is a tornado that whisks the table away, Sears Holdings is now making it clear to investors that there’s a good chance the company won’t be around much longer. [More]