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Sears Roebuck Co

April 7, 1999 | Bloomberg News
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 | Bloomberg News
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 | Associated Press
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 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.
August 18, 1998 | Bloomberg News
Sears, Roebuck & Co. agreed to sell its Western Auto Supply car-parts chain to Advance Auto Parts for $175 million and a 40% stake in the closely held retailer. Advance, based in Roanoke, Va., operates 915 stores in 17 states. It had fiscal 1997 sales of $848.1 million. The purchase will put Advance, which operates in the Southeast, in markets in the Northeast, Midwest and Southwest. Western Auto, based in Hoffman Estates, Ill.
July 4, 1998 | Bloomberg News
Sears Roebuck & Co., the nation's No. 2 retailer, said it hired investment banker Salomon Smith Barney to explore options for its HomeLife furniture stores, including a sale. HomeLife, which operates 126 free-standing stores, is the nation's third-largest furniture chain, with sales of about $650 million, according to Furniture Today trade magazine. Sears has said it would consider different options for the furniture chain if its business didn't turn around.
May 14, 1998 | Associated Press
A federal jury in New Hampshire has awarded a woman $1 million in a sex discrimination lawsuit against Sears, Roebuck & Co. Jeanie Boisvert worked as a greeter and dispatcher at the Sears Auto Center in Manchester, N.H., for 14 years before she was laid off in February 1993 during a reorganization of the retailer's auto departments. Boisvert's lawyer, Michael McGrath, said she was supposed to have been considered for rehiring, but discovered in 1994 she would not be.
January 16, 1998 | Bloomberg News
Sears, Roebuck & Co. customers fell further behind on credit card payments in the fourth quarter, raising concerns the retailer's earnings may be lower than expected. Hoffman Estates, Ill.-based Sears wrote off 9.23% of $9.6 billion in credit card charges in December, up from 7.61% in August and significantly above the 6.66% industry average, said Amber Eastman, a credit card analyst at Fitch IBCA Inc.
December 23, 1997 | From Bloomberg News
Sears, Roebuck & Co.'s management has been sued for $3.5 billion by Florida's pension fund, which said the retailer's executives failed to stop the company's controversial handling of bankrupt debtors. The suit names Chairman and Chief Executive Arthur Martinez, other top Sears executives and the company's board. Florida wants them to pay $320 million in compensatory damages, equal to a charge the company took in the second quarter, plus 10 times that amount in punitive damages.
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