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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.
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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 4, 1993 | DAVID DISHNEAU, ASSOCIATED PRESS
The plan Arthur C. Martinez has for saving Sears sounds a bit absurd. "One of the things I am trying to do at the top of this organization is to run this place like a small company," he said without a trace of irony in his crystal blue eyes. But this is the Sears Merchandise Group. Eight hundred stores, 300,000 workers, more than $21 billion in annual sales. It's not some wholesale dress or hardware business. The funny thing is, it's working. The retailing division of Sears, Roebuck & Co.
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
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
March 20, 1988
Joseph H. Batogowski, senior executive vice president-merchandising for Sears Merchandise Group, announced that he has decided to leave the company to pursue outside business interests. Matthew A. Howard, currently vice president-home appliances and home entertainment, will succeed Batogowski, effective April 1. Howard has been responsible for product development, buying, marketing and advertising for Kenmore appliances as well as home entertainment and electronic product lines.
BUSINESS
February 23, 1989 | From Times wire services
Sears, Roebuck & Co. will roll back prices on more than 50,000 items next week in a shift to a policy of everyday low prices, it announced today. Michael Bozic, chairman and chief executive officer of Sears Merchandise Group, said the change will be made in all Sears retail stores and catalogues effective next Wednesday. Bozic said "the biggest change in the company's history" will require more than 800 Sears stores to close for 42 hours--from 6 p.m. Monday until noon Wednesday.
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
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."
BUSINESS
May 16, 1989 | From Times wire services
The city and state have offered a $104 million-plus incentive package to keep Sears, Roebuck & Co. in the Chicago area, but the deal may have to be sweetened by up to $72 million more. The Chicago Sun-Times, quoting an official familiar with the negotiations, today reported that the present offer to move the company from downtown Chicago to O'Hare International Airport includes a 12-year $40-million property tax abatement and an agreement to designate a site near O'Hare as an Illinois enterprise zone.
BUSINESS
March 30, 1989 | From Associated Press
Sears, Roebuck & Co. today unveiled plans to restructure its retail merchandising group, eliminate 24 regional offices and cut about 800 management positions in an effort to become more competitive. The move is seen as a continuation of the restructuring plan announced last October, when the nation's largest retailer said it would sell its 15-year-old Sears Tower, the world's tallest building, and make other changes in an effort to revamp its image. Sears said that effective Aug.
BUSINESS
May 16, 1989 | From Times wire services
The city and state have offered a $104 million-plus incentive package to keep Sears, Roebuck & Co. in the Chicago area, but the deal may have to be sweetened by up to $72 million more. The Chicago Sun-Times, quoting an official familiar with the negotiations, today reported that the present offer to move the company from downtown Chicago to O'Hare International Airport includes a 12-year $40-million property tax abatement and an agreement to designate a site near O'Hare as an Illinois enterprise zone.
BUSINESS
April 25, 1989 | From Associated Press
Sears, Roebuck & Co. Monday reported a 63.7% drop in its first-quarter net income but the retailing giant said the results were distorted by an accounting change that inflated last year's earnings. Excluding the $544.2-million credit Sears gained in the first quarter of 1988 with a new accounting method, the company's net income rose 56.3% in the first quarter of 1989, Sears said in a news release. Sears reported net income of $257.7 million, or 70 cents a share, for the first three months of this year.
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