February 29, 2008 |
Sears Holdings Corp., the biggest U.S. department store company, said fiscal fourth-quarter profit plunged 47%, and Chairman Edward Lampert vowed to rein in costs and cut inventory. Net income dropped to $426 million, or $3.17 a share, in the three months that ended Feb. 2, the Hoffman Estates, Ill.- based company said. A year earlier, profit was $811 million, or $5.27 a share. Sales in the quarter declined 6.8% to $15.1 billion. "I'm not sure that there's anybody out there who says, 'Sears or Kmart is my favorite place to shop,' " said David Keuler, a money manager at Mason Street Advisors.
August 28, 2009 |
Eight years after getting out of cosmetics business, Sears is jumping back in, banking that the high-margin sector can give the retailer a much-needed profit boost. The flagship brand of Sears Holdings Corp. is opening full-service beauty counters at 13 Sears stores in Chicago, Los Angeles and New York this week. The goal is to roll out the beauty business to 100 locations next year and, if all goes well, expand to as many as 400 of its 852 Sears department stores by 2012, said Andrea Goldner, Sears' merchandise manager for cosmetics.
March 23, 2006 |
Minutes after securing final approval for combining Kmart and Sears last year, Edward Lampert pledged to transform the two faded retail icons into "a great company." But he didn't offer any blueprint for how he'd do it. Twelve months later, approaching Friday's anniversary of the unlikely pairing that created Sears Holdings Corp., industry experts are still trying to figure out just what the billionaire chairman has in mind for the struggling store brands.
April 5, 2013 |
Portrait studios at Sears and some Wal-Mart stores - the scenes of innumerable family photos - have unexpectedly closed as their operator, CPI Corp., goes out of business. The portrait provider said in a statement on its website that all of its U.S. locations have shut down “after many years of providing family portrait photography.” The St. Louis company has been making photo keepsakes for more than 60 years and offered its services at more than 3,000 North American locations, mostly in Sears and Wal-Mart stores.
July 29, 2012 |
Frank Thode bought his first refrigerator from Sears in Santa Monica as a young newlywed. That was back in 1957. For nearly five decades, he stopped at the department store almost once a week, picking up tools or clothes or appliances. But in recent years, he has hardly ever gone by the distinctive green-and-white Modern-style store on Colorado Avenue near the Santa Monica Pier still bearing its original Sears neon sign. "It basically looks like the same store from way back when with newer clothes and appliances," said the 78-year-old retired truck driver, surveying the store on a rare visit to inspect washers and dryers.
November 20, 2007 |
Sears Holdings Corp., the department store company run by investor Edward Lampert, said it bought a 13.7% stake in Restoration Hardware Inc. Sears disclosed the stake in a regulatory filing and said it held talks with company executives regarding a possible business combination. Restoration Hardware, a Corte Madera, Calif.-based home furnishings chain, agreed to be acquired last week by buyout firm Catterton Partners for $267 million.