September 21, 1999 |
Sears Canada Inc. snapped up the most famous name in Canadian retailing, for $20 million in cash Monday, saying it might keep the T. Eaton Co. banner alive via the Internet and catalog business, but probably not in a store format. Toronto-based Sears Canada, which is 55% owned by Sears, Roebuck & Co. of Hoffman Estates, Ill., said it would assume ownership of the Eaton name, trademark, Web site and eight stores across the country, including three in Toronto.
August 18, 1999 |
Sears, Roebuck & Co. plans to show consumers its harder side this fall in a much-anticipated advertising campaign intended to boost sales and change its stodgy image. After months of watching customers flock to more affordable discount stores, the world's second-largest retailer is ditching its "softer side of Sears" slogan in favor of a more value-focused tag: "The Good Life at a Great Price. Guaranteed. Sears."
May 15, 1999 |
An extensive Labor Department investigation found hundreds of violations of child labor laws at Sears, Roebuck & Co. stores, primarily involving teens running machinery considered too dangerous for their age. Sears has agreed to pay a $325,000 fine, conduct periodic audits and implement a corporate-wide training program for managers. Parents of teenage employees also will be given information on child labor and safety laws.
April 7, 1999 |
Sears, Roebuck & Co., the largest U.S. department store company, agreed to pay $985,000 to settle allegations by the Florida attorney general that it sold used auto batteries from Exide Corp. as new. Sears, without admitting wrongdoing, also agreed to add five months to the free-replacement warranties it offers on Exide batteries it sold before April 1. Sears, based in Hoffman Estates, Ill., said it settled to avoid the time and expense of litigation.
March 17, 1999 |
Sears, Roebuck & Co. said Jane Thompson, president of Sears Direct, its catalog and Internet sales business, is leaving as the nation's No. 2 retailer combines several units. Sears tapped Thompson, 47, in June to head Sears Direct, after she served as president of the company's home services unit. Sears will combine the specialty catalog operations with its marketing unit, while the online operations will become a part of the home services unit.
February 10, 1999 |
Sears, Roebuck & Co. agreed to plead guilty to fraud and pay a $60-million fine for illegally pursuing debts from credit card customers who had filed for bankruptcy, the retailer said. Under a deal with the federal government, Sears' Bankruptcy Recovery Management Services unit will admit guilt to one count of bankruptcy fraud. Hoffman Estates, Ill.
January 22, 1999 |
Ford Motor Co.'s fourth-quarter earnings rose 6.4%, beating expectations, as the world's No. 2 auto maker boosted sales of high-profit trucks in North America and cut costs. Ford announced Thursday that profit from operations rose to $1.67 billion, or $1.35 a fully diluted share, from $1.57 billion, or $1.27, a year earlier. The company was expected to earn $1.27 a share, based on the average estimate in a First Call Corp. survey. Ford's results add to a strong quarter for U.S.
CALIFORNIA | LOCAL
January 19, 1999
Sears Roebuck & Co. has leased 15,000 square feet of office space in the Pacific Business Center in Chatsworth for its 90-member regional sales center staff. Scott Caswell of Delphi Business Properties, representing the landlord, Northeast Valley Industrial Park, said Class A construction, major street visibility and fiber optics were key to brokering the $1.6-million lease.