BUSINESS
February 12, 1993 | From Times Staff and Wire Reports
$4-Billion Plan for Sears Announced: Sears, Roebuck & Co. executives laid out plans to revitalize the stagnant retailer, saying they'll spend $4 billion to renovate stores, revamp their merchandising strategy and seek outside help. The company indicated that it is done with drastic measures such as the 50,000 layoffs, 113 store closings and shutdown of Sears' big catalogue operation announced last month, although some further job losses appear likely.
BUSINESS
November 14, 1991
Sears Seeks to Cut Packaging Material: Sears, Roebuck & Co. announced that it has enlisted 2,300 of its suppliers in an effort to reduce packaging used in its products by 25% within three years. The Chicago-based company estimates that the program will cut packaging by 1.5 million tons annually by 1994, saving it about $5 million a year.
BUSINESS
April 19, 1991 | From Associated Press
Sears, Roebuck & Co. said Thursday its first-quarter earnings nearly doubled as business improved in all its segments, especially its troubled retailing group. Sears said it earned $202.7 million, nearly double the $106.3 million it reported a year earlier. The results reflected a deferred-tax charge of $38.5 million in the Allstate Insurance Group. For the three months, revenues totaled $12.88 billion, up 2% from 1990's first quarter. Sears Chairman and Chief Executive Edward A.
BUSINESS
June 6, 1989 | From Times wire services
Sears, Roebuck & Co. today announced that it will open 164 more Brand Central stores, bringing to 277 the number of home appliance-electronics super-stores it has opened since March. The new stores will be opened in Connecticut, Delaware, Illinois, Indiana, Maryland, Massachusetts, New Jersey, New York, Pennsylvania, Vermont, Virginia, Wisconsin and the District of Columbia. "These 164 openings represent nearly one-half of our national rollout this year," said Marvin M. Stern, vice president, home appliances and electronics, for Sears Merchandise Group.
BUSINESS
May 29, 1989
Sears 'Superstore' Opens: Sears, Roebuck & Co. has unveiled a new menswear "superstore within a store" in its suburban Aurora, Ill., store. Michael Bozic, chairman and chief executive of Sears Merchandise Group, said the Men's Store at Sears is a pilot for similar efforts planned to be rolled out nationwide early next year. The new format concentrates on six distinctive shops with more than 70 national and Sears brands. Other formats are being developed and prototypes will be opened this year as part of Sears' growth strategy.
ENTERTAINMENT
May 24, 1989 | DIANE HAITHMAN
Two weeks after CBS announced that it would be hooking up with K mart to promote its fall schedule, NBC said Tuesday it will be doing the same thing with Sears. Whereas the CBS-K mart campaign will feature a viewer contest with more than 6 million prizes, the NBC-Sears venture will offer grand-prize winners "instant stardom" by flying them to Hollywood to appear on NBC's prime-time programs and in promotional spots for the network. The promotion, announced at the annual NBC affiliates convention here by John Miller, senior vice president of NBC Entertainment, and Thomas E. Morris, vice president of marketing for Sears Merchandise Group, will run over a five-week period beginning Labor Day. Miller called the venture "the largest and most exciting promotion in network history."