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.
March 21, 2012 |
Sears Holdings Corp. is slashing costs after losing $2.4 billion in the fourth quarter, including the closure of 120 of its department stores. But one expense remains sky-high: the cost of charter flights for Chief Executive Louis J. D'Ambrosio, who lives in Philadelphia and commutes to Sears' headquarters in Hoffman Estates, Ill. Sears spent $793,224 last year shuttling D'Ambrosio by private jet back and forth, according to its latest proxy...
November 18, 2011 |
Sears Holdings Corp. posted a wider loss in the third quarter as continued sales declines at its stores overshadowed a growing online business. The Hoffman Estates, Ill.-based retailer said revenue at its Sears stores open at least a year slipped 0.7%. At its Kmart stores, revenue fell 0.9%. Sears Canada had a 7.8% decline in comparable-store sales, the company said. Lower sales of appliances and consumer electronics at Sears' U.S. stores hurt the company's performance, even as sales of apparel rose, helped by Lands' End and the new Kardashian clothing line.
November 8, 2011 |
This holiday season, Sears and Kmart are testing virtual shopping walls at malls to empower smartphone owners to buy toys on the go. The walls, which feature pictures of toys for sale from Sears and Kmart along with bar codes attached to each item, will be placed temporarily at select malls, bus shelters, subway stations, airports and movie theaters around the country. While waiting for a bus or browsing the mall this season, shoppers can scan a code with their smartphones to buy a particular toy right on their device.
November 23, 2009 |
If Sears Holdings Corp. Chairman Edward Lampert were making his Christmas wish list, you can bet that more Sears stock would be at the top of the page. When the retailer reported last week that its fiscal third-quarter loss narrowed as $101 million in cuts to overhead costs helped offset falling sales, it also disclosed a willingness to spend -- on itself. Most retailers have suspended stock buyback programs as they conserve resources to cope with cash-strapped consumers who are shopping less and expecting bigger discounts.
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.