Content about Sears

March 11, 2014

Kmart and Sears are among a group of companies identified as “the least engaging brands of 2014,” in a recently released index of customer loyalty.

"A brand can't do well in today's marketplace if it can't engage consumers, no matter how many ads are run, and no matter how much social networking one does," said Robert Passikoff, founder and president of Brand Keys, a New York-based brand loyalty and emotional engagement research consultancy.

January 15, 2014

Sears and Kmart recalled Kenmore brand oscillating fan heaters due to fire and burn hazards, according to a release Wednesday from the Consumber Product Safety Commission.

The stores received seven reports of the fan heaters smoking or catching fire. There has been one report of smoke inhalation and another of a blister to a consumer's finger.

The products were sold at Sears and Kmart from September 2013 through November 2013 for about $40. The manufacturer of the products is Collins Co., of China.

May 7, 2013

DeWalt and Sears executives announced a "game-changing" mechanics tools partnership at the National Hardware Show.

November 14, 2012

The Seventh Circuit Court of Appeals today ordered that consumers in six states -- California, Indiana, Illinois, Kentucky, Minnesota and Texas -- who allege that Sears sold them allegedly defective Kenmore front-loading "high efficiency" washing machines manufactured by Whirlpool may band together in a class action.

August 30, 2012

Sears Holdings will lose its spot in the S&P 500 after the close of trading on Sept. 4. It will be replaced by chemical maker LyondellBasell (LYB).

August 29, 2012

Sears Hometown and Outlet Stores Inc. will begin trading next week on Nasdaq, Sears Holdings Corp. announced Tuesday.

The price of shares is initially set at $15 for Sears Hometown. 

August 17, 2012

Expectations are high that mobile payments represent the future of commerce, and a group of leading retailers this week formed a new organization to offer an alternative way to pay.

The group, Merchant Customer Exchange, will integrate a range of consumer offers, promotions and retail programs available via any smartphone. Participating retailers include Wal-Mart, Lowe's, Sears Holdings Corp. and Target. Additional members are expected to be announced in the coming months.  

August 16, 2012

Hoffman Estates, Ill.-based Sears Holdings reported a second-quarter net loss of $132 million, compared with a loss of $146 million in the year-ago period.

August 13, 2012

A report released Monday by the Associated Press said that Sears Holdings Corp. would be spinning off its Hometown and Outlet stores, along with some hardware stores, into a separate, publicly traded company.

Earlier this year, Sears had revealed it would split the companies but had not indicated the new organization would be a separate public entity.

August 13, 2012

Sears Holdings said Friday it has again been selected to participate in the U.S. Environmental Protection Agency's Energy Star National Building Competition: Battle of the Buildings.

For the third consecutive year, Sears will participate in the competition, this year entering 56 facilities that will compete against thousands of other teams representing buildings across the country. All efforts will be focused on eliminating waste through improvements in energy efficiency with help from EPA's Energy Star program.

July 24, 2012

Sears Holdings Corp. said that former interim CEO Bruce Johnson will serve as president and CEO of Sears Hometown and Outlet Stores once the unit is spun off from the retailer.

Johnson served as interim CEO of Sears Holdings from 2008 to early 2011.

Last February, Sears Holdings announced it would spin off its Sears Hometown and Outlet businesses in an effort to raise an expected $400 million to $500 million.

July 3, 2012

Home Depot has announced the expansion of its major appliance brands by adding Whirlpool, Electrolux and Frigidaire in a limited number of stores and on Homedepot.com.

The appliances will be available through the company's Depot Direct delivery network and available to be ordered in all U.S. stores. Depot Direct includes more than 3,000 appliances delivered and installed to the customer's home within one to five days of purchase. Appliance purchases through Depot Direct include free delivery and haul-away.

June 1, 2012

In his company’s first earnings call since its spinoff from Sears, Orchard Supply Hardware CEO Mark Baker introduced his company to analysts as a unique player, operating, at about 44,000 sq. ft., between the big boxes and the small independents. He described his newly public company’s focus on three high-margin categories: repair and maintenance, backyard, and paint. He also explained Orchard Supply was in transition mode — an 80-year-old company turning around several years of negative comps, with upgraded merchandising and stores.

June 1, 2012

Frank Filmeck, president and CEO of Busy Beaver, talks like a modern-day retailer who has been running a hardware store for several decades. But he joined the regional chain — which is marking its 50th anniversary this year — in 2002. Before that, he worked for ICI/Glidden Paint as a senior VP, handling such companies as Home Depot, Sears, Walmart and Kmart. Filmeck still remembers what it was like to sit in an airport — in this case, Cleveland — and wait for a flight that would take him to a meeting with Menards.

May 22, 2012

Just days after Sears Holdings announced plans to partially spin off its Canadian division, Sears Canada appointed a new board member and said goodbye to another. 

May 17, 2012

Sears Holdings Corp. has announced plans to pursue a partial spinoff of its interest in Sears Canada.

The move will reduce the Hoffman Estates, Ill.-based Sears Holdings’ stake in Sears Canada from 95% to about 51%, the company said. 

May 17, 2012

Hoffman Estates, Ill.-based Sears Holdings posted net income of $189 million in the quarter, compared with a loss of $165 million in the prior-year period.

After several rounds of closings of Kmart and Sears full-line stores in the past months, revenues decreased $270 million to $9.3 billion for the quarter ended April 28. Domestic comp-store sales declined 1.3% -- 1.0% at Sears Domestic and 1.6% at Kmart. Sears also saw declines in its home appliances and consumer electronics categories.

May 4, 2012

Ahead of its annual shareholders' meeting, Sears Holdings has provided first-quarter guidance calling for net income of $155 million to $195 million (between $1.46 and $1.84 per diluted share from continuing operations) versus a net loss from continuing operations of $165 million ($1.53 loss per diluted share from continuing operations) for the first quarter in 2011. The above range includes approximately $235 million, after tax and minority interest, of gains from the sale of certain U.S. and Canadian stores. These transactions generated $440 million of cash proceeds.

May 1, 2012

Sears Holdings Corp. filed documents with the Securities and Exchange Commission (SEC) on April 30 indicating its plans to spin off its Hometown and Outlet stores into a separate company, according to an article in the Chicago Tribune.

April 26, 2012

In the California company’s first full-year fiscal earnings report since separating from Sears, Orchard Supply posted a net loss of $14.5 million, compared to net income of $8.7 million in fiscal year 2010.

The company’s sales in 2011 were $660.5 million, roughly flat from the prior years. Same store sales declined 0.6% -- average ticket was up, but transaction volume was down.

March 23, 2012

Former Sony Electronics executive, Steve Haber, is joining Sears Holdings as SVP and president, home appliances. 

In his new role with Sears Holdings, Haber will lead the company's effort to continue driving profitable growth in its industry-leading appliance business.

March 16, 2012

In a move to ensure that vendors continue to supply Sears its goods, Sears Holdings Corp.'s top shareholder ESL Investments, a hedge fund owned by Edward Lampert, has agreed to assume some payment obligations.

In a filing with the U.S. Securities and Exchange Commission on Wednesday and reported by Reuters, Sears said ESL made a deal on Jan. 26 with a financial institution to acquire 80% interest in an agreement designed to ensure payment to vendors in the event of a bankruptcy filing by a company.

March 15, 2012

According to an article in the Chicago Tribune, the closing of 43 Sears hometown dealer stores and 10 Sears Hardware stores are planned for the first half of 2012.

The latest revelation on Sears' plans to cut its expenses and transform its business came from its annual report, which was released late Wednesday. 

March 15, 2012

Dev Mukherjee, president of the home appliances business at Sears for the past 16 months, has departed the company, according to an article in the Chicago Tribune. A replacement will be named “in a few weeks,” according to a Sears spokesman.

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