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Keyword: sears

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  • 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."
  • Sears reveals 'substantial' doubts about future, shares plunge 11%

    03/22/2017 6:40:41 AM PDT · by Hojczyk · 21 replies
    cnbc ^ | March 22,2017 | reuters
    Sears Holdings, once the largest U.S. retailer, warned on Tuesday about its ability to continue as a going concern after years of losses and declining sales. "Our historical operating results indicate substantial doubt exists related to the company's ability to continue as a going concern," Sears said in the annual report for the fiscal year ended Jan. 28. Shares of the retailer were down almost 12 percent in premarket trade on Wednesday. The company said an inability to generate additional liquidity might limit its access to new merchandise or its ability to procure services. Continued operating losses also could restrict...
  • Sears Has ‘Substantial Doubt’ That It Will Stay in Business

    03/22/2017 6:47:54 AM PDT · by Red Badger · 114 replies
    ktla.com ^ | Posted 5:45 AM, March 22, 2017 | Staff
    After years of huge losses and store closings, the future is officially in doubt for Sears and Kmart. Sears Holdings, the holding company for the two iconic retail brands, warned investors late Tuesday that it can’t promise it will stay in business. It included the language in its annual report while insisting it might still turn things around. “Our historical operating results indicate substantial doubt exists related to the company’s ability to continue as a going concern,” said the statement. Sears Holdings said it can’t be sure it can raise the cash it needs through loans and debt financing. The...
  • MILO: Dear Half Of America, We At Sears F*****g Hate You!

    02/14/2017 8:19:06 PM PST · by Beave Meister · 35 replies
    Breitbart ^ | 2/14/2017 | Milo
    <p>Hi folks! Eddie Lampert, CEO of Sears Holdings here! I’ve been reliably informed that everyone who’s anyone in conservative America reads MILO, and he has been gracious enough to lend me his column today to send you a simple message — Sears and our other failing brand K-Mart fucking hate you!</p>
  • Sears, Kmart join other retailers in dropping Trump-branded items

    The list of companies dropping products that carry the Trump name grew this weekend, with two major U.S. retailers announcing that they’re no longer selling Trump Home items online. Reuters reported Saturday that Sears Holdings and subsidiary Kmart will discontinue online sales of 31 items from the Trump Home collection, which includes lines of living room and bedroom furniture, lamps and chandeliers.
  • Report: Sears, Kmart Remove Trump Line of Home Furnishings from Websites

    02/11/2017 8:48:37 PM PST · by Rockitz · 68 replies
    Breitbart.com ^ | 11 Feb 2017 | Katherine Rodriguez
    Sears and Kmart have stopped selling products from the Trump Home line on their websites, Business Insider reports. Items from Trump Home, which is part of the Trump Organization, were reportedly not available on both websites and did not appear in a search of either website as of Friday. “As part of the company’s initiative to optimize its online product assortment, we constantly refine that assortment to focus on our most profitable items,” a Sears Holdings spokesperson told Business Insider. “Amid that streamlining effort, 31 Trump Home items were among the items removed online this week. Products from the line...
  • Sears, Kmart drop 31 Trump Home items from their online shops

    02/11/2017 12:23:52 PM PST · by usafa92 · 139 replies
    Reuters ^ | 2/11/2017 | Jon Herskovitz
    Major U.S. retailers Sears and Kmart this week removed 31 Trump Home items from their online product offerings to focus on more profitable items, a spokesman said on Saturday. The decision follows retailer Nordstrom Inc's announcement this week it had decided to stop carrying Ivanka Trump's apparel because of declining sales, prompting President Donald Trump to take to Twitter to defend his daughter. White House spokesman Sean Spicer characterized the Nordstrom move as a "direct attack" on the president's policies. Neither Sears nor Kmart carried the Trump Home products in their retail stores, a Sears Holdings Corp spokesman said. Kmart...
  • Walmart Swings Its Axe Again and Will Now Slash 1,000 Corporate Jobs

    01/11/2017 11:39:27 AM PST · by aquila48 · 27 replies
    The Street ^ | Jan 11, 2017 | Lindsay Rittenhouse
    Walmart (WMT) , the country's largest private employer, plans to eliminate roughly 1,000 corporate jobs as it looks to boost its e-commerce business and trim costs. The jobs, mainly in the human resources department, will be cut before Jan. 31, as a result of increased e-commerce spending and rising employee wages, an anonymous executive told the Wall Street Journal. When contacted by TheStreet, Walmart declined in an email to comment on the job cuts but said the company has "not made any announcements" on its current corporate structure, adding "... we are always looking for ways to operate more efficiently...
  • Sears, Other Retailers Reel From Gales Of 'Creative Destruction'

    01/09/2017 2:58:45 AM PST · by expat_panama · 92 replies
    Investors Business Daily ^ | 1/05/2017 | TERRY JONES
    Sears. Macy's. Kohl's. Traditional department store retailers have taken hard hits over the Christmas holidays, with sales lagging the generally robust performance of retailers overall. Now, these mall stalwarts are slashing thousands of jobs and hundreds of stores, trying to right-size themselves. It's no coincidence. Sears on Thursday became the latest retailer to announce that it was restructuring... ...Macy's is letting 10,000 people go. And Kohl's warned about its decline in sales over the holidays. Analysts expect Kohl's to announce cuts. A few years back, it was discounter Wal-Mart, the biggest retailer on earth, announcing it was closing 100 stores....
  • Will Craftsman’s famous lifetime warranty still apply after $900M sale? (Leaving Sears) Ed. Tr.

    01/07/2017 8:40:30 AM PST · by brucedickinson · 81 replies
    Daily Mail ^ | 1-06-2017 | Jordan Poore
    Since Sears bought the trademark in 1927, Craftsman tools have had a famous lifetime - and unlimited - warranty. But after nearly 90 years, Sears announced Thursday that it's selling the Craftsman brand to Stanley Black & Decker Inc for $900 million that bosses hope will keep the company afloat. The change of hands has caused some to question whether Craftsman's lifetime warranty will still apply to tools people own now or purchase in the future.
  • Sears sells Craftsman brand to Stanley Black & Decker for about $900 million

    01/05/2017 8:00:47 AM PST · by Leaning Right · 140 replies
    Chicago Tribune. ^ | Jan. 5, 2017 | Lauren Zumbach
    Sears Holdings will sell its Craftsman tool brand to Stanley Black & Decker for about $900 million, the companies announced Thursday. The deal will provide another cash infusion for Sears, but it comes at a cost — broadening distribution of the well-known brand gives consumers one less reason to choose to shop at the struggling Hoffman Estates-based retailer.
  • Is Sears Dying a Slow Death?

    12/09/2016 1:17:01 PM PST · by Hojczyk · 113 replies
    Fox Business ^ | DECEMBER 9, 2016
    Sears (SHLD), the 130-year-old American icon, can’t find a way to stop the bleeding. The floundering retailer has closed hundreds of Sears and Kmart stores, cut costs and borrowed millions of dollars from CEO Eddie Lampert’s hedge fund to keep the business going. Sears invested in its online store and a loyalty program, Shop Your Way, in hopes of regaining its footing, but customers have yet to return in droves. On Thursday, Sears reported its fifth quarterly loss in a row, and sales continued their downward trend. Sears also revealed that it will accelerate plans to shutter underperforming stores. Jason...
  • Sears is on the brink of catastrophe as stores closures loom and top execs flee the company

    Things aren't looking good for Sears. The company is shutting down dozens of Kmart stores this month and two of its highest-ranking executives left this week in the midst of the key holiday shopping season. This comes following speculation among Sears and Kmart employees, suppliers, and several banks that the retailer will soon go bankrupt — something Sears has repeatedly dismissed. Jeff Balagna, formerly Sears' executive vice president, left the company Wednesday, "in order to focus on his other business interests and pursue other career opportunities," Sears said in an SEC filing dated November 23.