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Keyword: sears

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  • Sears: Death of an American icon

    10/17/2018 8:34:54 PM PDT · by conservative98 · 48 replies
    NY Post ^ | October 15, 2018
    1983. Mannequins are shown as Sears unveils its "Store of the Future."
  • Which Sears Stores Are Closing? Here's the Full List as Sears Files for Bankruptcy [& K-Mart]

    10/16/2018 6:57:47 AM PDT · by Red Badger · 35 replies
    time.com ^ | Updated: October 15, 2018 1:35 PM ET | Brad Tuttle
    The long-predicted Sears bankruptcy is finally here. On Monday, Sears Holdings announced it is filing for Chapter 11 bankruptcy in an attempt to restructure the company and save the troubled retailer from oblivion. Shoppers can expect more Sears store closures, as well as liquidation sales, in brick-and-mortar locations around the country: Sears, which owns its flagship brand and Kmart, says it will be closing an additional 142 stores by the end of the year. Which Sears Stores Are Closing?
  • Sears Is Dead — Long Live Sears!; The Bankruptcy of Sears Shows the Vibrancy of Capitalism

    10/16/2018 6:49:06 AM PDT · by SeekAndFind · 39 replies
    IBD ^ | 10/15/2018
    Sears, RIP: Bowing to the inevitable, Sears' owners on Monday filed for Chapter 11 bankruptcy. Yes, it's a sad day for the 126-year-old company. But it's not a tragic story, for it underscores the underlying vibrancy, innovation and creativity of American capitalism. Monday's filing came as Sears faced a deadline for payment of $134 million on its debt. It didn't have the money, so it filed for protection from its creditors. Eddie Lampert — the largest shareholder in the company, with nearly half its shares — stepped down as CEO. By the end of this year, Sears will be a...
  • Sears, the store that changed America, declares bankruptcy

    10/15/2018 7:50:59 AM PDT · by Borges · 97 replies
    CNN ^ | 10/15/2018 | Chris Isidore
    Sears was once the nation's largest retailer and its largest employer. In its heyday, it was both the Walmart and Amazon of its time. Formed in 1886 by railroad station agent Richard Sears, the company started as a watch business in North Redwood, Minnesota. Sears moved to Chicago in 1887, and he hired watchmaker Alvah Roebuck as his partner. The first Sears Roebuck catalog, which sold watches and jewelry, was printed in 1896. The Sears catalog was the way many Americans first started to buy mass-produced goods. That was an enormous shift for people who lived on farms and in...
  • News Summary-Intelligence Report Monday 10/15/2018

    10/15/2018 5:03:29 AM PDT · by Nextrush · 1 replies
    Nextrush Free ^ | 10/15/2018 | Nextrush/Self
    Political parties aligned with the German government of Chancellor Angela Merkel lost over 21 percent of the popular vote in yesterday's Bavarian state election. The Christian Social Union lost its majority and the Social Democratic Party lost half its support from the last election in 2014..... The Speaker of Sweden's Parliament, the Riksdag, will now give the task of forming a government to another party leader. Moderate Party leader Ulf Kristersson abandoned his effort to form a new government.... A very disturbing lead story appeared on the BBC website overnight. A story detailing the notion of chemical attacks in Syria...
  • Sears files for bankruptcy protection; Eddie Lampert steps down as CEO

    10/15/2018 4:31:14 AM PDT · by DCBryan1 · 67 replies
    CNBC ^ | 15 OCT 18 | Lauren Hirsch | Lauren Thomas
    Sears Holdings filed for bankruptcy protection early Monday after years of staying afloat through financial maneuvering and relying on billions of CEO Eddie Lampert's own money. The company also announced that Lampert will be stepping down as CEO, effective immediately, although he remains its chairman. The 125-year-old retailer, once the nation's largest, said Monday it was appointing Mohsin Meghji, managing partner of M-III Partners, as its chief restructuring officer. As part of the bankruptcy, Sears will shutter 142 stores toward the end of the year. It expects to begin liquidation sales shortly. The bankruptcy filing comes more than a decade...
  • Sears aims to close up to 150 stores in bankruptcy, sources say

    10/12/2018 9:51:15 PM PDT · by robowombat · 87 replies
    Al Rooters ^ | Oct 11, 2018
    Source: Reuters Sears is planning to close up to 150 of its department and discount stores and keep at least 300 open as part of a plan to restructure under U.S. bankruptcy protection, people familiar with the matter said Friday. The plans, which remained in flux Friday afternoon, would leave the fate of Sears' remaining roughly 250 stores uncertain, the sources said. The future of the stores could hinge on Sears' negotiations with landlords over their leases.
  • Sears preparing potential bankruptcy filing: report

    10/09/2018 8:28:12 PM PDT · by yesthatjallen · 49 replies
    The Hill ^ | 10/09/18 | BRETT SAMUELS
    Sears Holdings Corp. could file for bankruptcy as early as this week as the company assesses how to manage its more than $130 million in debt, The Wall Street Journal reported Tuesday. The news outlet reported that Sears has $134 million in debt due on Monday. While chairman Edward Lampert could make the payment, the company has hired M-III Partners, a boutique advisory firm, to put together a possible bankruptcy filing. The Wall Street Journal reported that Lampert, whose hedgefund owns a majority of Sears' shares, is hoping to secure a restructuring of the company's debt, which would include the...
  • Sears Hires Advisers to Prepare Bankruptcy Filing

    10/09/2018 7:18:17 PM PDT · by rdl6989 · 76 replies
    wsj.com ^ | Oct. 9, 2018 | Suzanne Kapner, Lillian Rizzo and Soma Biswas Biswas
    Sears Holdings Corp. SHLD -5.99% has hired M-III Partners LLC to prepare a bankruptcy filing that could come as soon as this week, according to people familiar with the situation, as the cash-strapped company that once dominated American retailing faces a debt payment deadline.
  • Sears is closing 46 more stores — here's where they are

    08/23/2018 11:58:09 AM PDT · by Responsibility2nd · 102 replies
    Yahoo/CNBC ^ | 08/23/2018 | Lauren Thomas
    The company said this week it is shuttering 46 more stores in November. The locations are spread across the United States (See a full list below.) "We continue to evaluate our network of stores, which is a critical component to our integrated retail transformation, and will make further adjustments as needed," the company said in a statement. Liquidation sales at the 33 Sears stores and 13 Kmarts are expected to begin next week, according to Sears. The company also said that eligible workers will receive severance and be able to apply for openings at other nearby stores. Sears said in...
  • Sears names dozens of the 72 stores it plans to close in the near future

    05/31/2018 2:19:02 PM PDT · by Red Badger · 78 replies
    CNBC ^ | 05/31/2018 | Lauren Thomas | Christina Cheddar Berk
    Sears has identified another 100 unprofitable stores. It will begin closing sales at 72 of these stores "in the near future." The retailer said it continues to evaluate its store fleet and will make further adjustments "as needed and as warranted." Sears Holdings said Thursday it will be closing more than 70 additional stores in 2018 as its sales continue to erode, dropping more than 30 percent in the latest quarter from a year ago. The retailer has identified 100 unprofitable stores in total, and it will begin closing sales at 72 of these stores "in the near future." "We...
  • Hulen Mall Fire: One Jailed After Third Incident (Fort Worth, Texas)

    05/22/2018 2:40:04 PM PDT · by 2ndDivisionVet · 3 replies
    Patch ^ | May 19, 2017 | Payton Potter
    FORT WORTH, TX — A large police and firefighter presence was seen Friday after a fire broke out in the women's shoe department of Sears Department Store around 11:00 a.m. Friday, various news outlets report. The fire has been extinguished, and arson investigators are working the scene, KXAS reported. The mall was evacuated and sealed off after the fire and remains closed to the public, the station reported. No injuries have been reported. Fort Worth Star-Telegram reporter Steven English said on Twitter the fire was started by an incendiary device but was quickly extinguished by store employees. The jailed suspect...
  • Sears to close last store in Chicago [its home market]

    04/12/2018 4:03:08 PM PDT · by foreverfree · 85 replies
    Chicago Tribune ^ | 4/12/18 | Chicago Tribune staff
    Sears, based in Chicago for more than a century and now facing mounting troubles, is closing its last store in the city. Employees at the store at Six Corners, on the edge of the Portage Park neighborhood, were told of the closure Thursday morning, spokesman Howard Riefs said in an email.
  • Sears' Decline Actually Demonstrates Amazon's Vulnerability

    01/09/2018 7:45:06 AM PST · by SeekAndFind · 45 replies
    RCM ^ | 01/09/2018 | By Allan Golombek
    Those who fear Amazon is on the verge of becoming a monopoly that eats all competitors and locks up the retail market should take note of an announcement last week by Sears Holdings: The company will be closing another 100 stores this year. Some will see Sears’ downward trajectory as proof that Amazon is on the verge of assuming near-monopolistic dominance of the retail market. In fact, it proves the opposite: No one can blithely assume that kind of power, at least not for long. Just look at Sears’ history: Back in the 1960s, many feared the Sears chain would...
  • Sears is closing over 100 more stores

    01/04/2018 4:35:25 PM PST · by Hojczyk · 148 replies
    CNBC ^ | January 4,2017
    Sears told its employees Thursday that it will be shuttering over 100 more stores. That consists of 64 Kmart stores and 39 Sears stores, all of which are expected to close between early March and April of this year. Liquidation sales will begin as early as Jan. 12. On a recent call with analysts and investors, Sears CFO Rob Riecker said the retailer would be building on those new concepts in the coming months, "delivering specialized integrated retail experiences" to customers. Sears also recently started selling two of its brands, Kenmore and DieHard, on Amazon.com. Earlier Thursday morning, Macy's also...
  • Sears is breaking up with Whirlpool after a century

    10/24/2017 8:48:03 AM PDT · by Leaning Right · 69 replies
    CNN Money ^ | October 24, 2017 | Chris Isidore
    The struggling retailer says it will stop selling Whirlpool's washing machines, refrigerators and other appliances. Sears will also stop offering Maytag, KitchenAid and Jenn-Air products, all of which are part of Whirlpool. Sears will sell its existing inventory of Whirlpool products but not order more. Whirlpool will keep making some products sold under Sears' Kenmore brand.
  • Police: Shoplifters stealing televisions shove 81-year-old man, killing him

    08/31/2017 11:51:56 AM PDT · by rightwingintelligentsia · 46 replies
    Cox Media via WPXI ^ | August 31, 2017 | Natalie Dreier,
    RICHLAND COUNTY, S.C. - All he was trying to do was to stop two men who were taking televisions from a South Carolina department store, police said. Now Duaine Hamilton, 81, is dead, and the local sheriff said he will hold the alleged thieves accountable for HamiltonÂ’s death, WISTV reported. Hamilton was the SearsÂ’s loss prevention officer at the Midlands, South Carolina, store. He had worked for Sears for 13 years. Police said Hamilton stood, blocking the two men, who then shoved him to the ground on Aug. 22. He hit his head on the ground and police said that...
  • We Went to Sears For The First Time In More Than 10 Years and Instantly Saw Why It's Dying

    I haven't been inside a Sears store for more than 10 years, until Thursday, June 22. And, wow, did I learn a lot. Mainly, I came away with a better understanding of why Sears Holdings Corp. is closing an additional 20 stores on top of the 245 it already planned to shutter. And why it has failed to turn a profit in 29 out of the last 37 quarters and seen same-store sales decline in 11 of the past 12 quarters. I observed alienating treatment of a loyal customer at the store in Jersey City, N.J., which was also messy...
  • Sears, Kmart to close an additional 72 stores in 2017, per report

    06/07/2017 7:35:28 AM PDT · by rdl6989 · 61 replies
    abc15.com ^ | Jun 6, 2017 | Justin Boggs
    Business Insider, citing an internal memo, reported on Tuesday that Sears is planning to close 72 additional stores this year, in addition to 180 locations the company had previously announced it would close this year. According to Business Insider, the company will shutter 16 Sears locations, 49 Kmart stores and seven auto centers. The report indicates that a majority of the 72 stores will close in September.
  • Sears department store now peddling 'Free Palestine' t-shirts

    06/06/2017 6:51:51 AM PDT · by Roman_War_Criminal · 51 replies
    jpost ^ | 6/6/17 | Ariane Mandell
    Times must be tough in the appliances sector - classic American home goods department store Sears has turned to commercializing the Israeli-Palestinian conflict. Now with your washer-dryer, customers can pick up a women's "Free Palestine" t-shirt in their choice of six colors. The t-shirt features a fist in the colors of the Palestinian flag, with the words "Free Palestine, End Israeli Occupation" emblazoned on the front. The product description encourages shoppers to "Make a statement about the Arab-Israeli conflict with this powerful design."