Sears, officially named Sears, Roebuck and Co., is an American chain of
department storeA department store is a retail establishment which satisfies a wide range of the consumer's personal and residential durable goods product needs; and at the same time offering the consumer a choice of multiple merchandise lines, at variable price points, in all product categories...
s which was founded by Richard Warren Sears and Alvah Curtis Roebuck in the late 19th century. Formerly a component of the
Dow Jones Industrial AverageThe Dow Jones Industrial Average , also called the Industrial Average, the Dow Jones, the Dow 30, or simply the Dow, is a stock market index, and one of several indices created by Wall Street Journal editor and Dow Jones & Company co-founder Charles Dow...
, Sears merged with
KmartKmart, sometimes styled as "K-Mart," is a chain of discount department stores. The chain acquired Sears in 2005, forming a new corporation under the name Sears Holdings Corporation. The company was founded in 1962 and is the third largest discount store chain in the world, behind Wal-Mart and...
in early 2005, creating the
Sears Holdings CorporationSears Holdings Corporation is a retail conglomerate formed in 2005 by the merger of Sears, Roebuck and Co., of Hoffman Estates, Illinois, with Kmart Holdings Corporation, of Troy, Michigan...
.
From its
mail orderMail order is a term which describes the buying of goods or services by mail delivery. The buyer places an order for the desired products with the merchant through some remote method such as through a telephone call or web site. Then, the products are delivered to the customer...
beginnings, the company grew to become the largest
retailerRetail consists of the sale of physical goods or merchandise from a fixed location, such as a department store, boutique or kiosk, or by mail, in small or individual lots for direct consumption by the purchaser. Retailing may include subordinated services, such as delivery. Purchasers may be...
in the United States by the mid-20th century, and its catalogs became famous. Competition in changes in the demographics of its customer base challenged the company after World War II as its rural and inner city strongholds shrank and the suburban markets grew. Eventually its catalog program was largely discontinued in lieu of more web-based alternatives.
History
Richard Warren Sears was a railroad station agent in
North Redwood, MinnesotaAs of the census of 2000, there were 5,459 people, 2,266 households, and 1,389 families residing in the city. The population density was 1,167.1 people per square mile . There were 2,377 housing units at an average density of 508.2 per square mile...
when he received an impressive shipment of watches from a Chicago jeweler which were unwanted by a local cube jeweler. Sears purchased them, then sold the watches for a considerable profit to other station agents, then ordered more for resale. Soon he started a business selling watches through
mail orderMail order is a term which describes the buying of goods or services by mail delivery. The buyer places an order for the desired products with the merchant through some remote method such as through a telephone call or web site. Then, the products are delivered to the customer...
catalogs. The next year, he moved to
Chicago, IllinoisChicago is the largest city in the US state of Illinois. With nearly 2.7 million residents, it is the most populous city in the Midwestern United States and the third most populous in the US, after New York City and Los Angeles...
where he met Alvah C. Roebuck, who joined him in the business. In 1893, the corporate name became Sears, Roebuck and Co.
Mail order catalog
Richard Sears knew that farmers often brought their crops to town, where they could be sold and shipped. Before the Sears catalog, farmers typically bought supplies (often at high prices) from local
general storeA general store, general merchandise store, or village shop is a rural or small town store that carries a general line of merchandise. It carries a broad selection of merchandise, sometimes in a small space, where people from the town and surrounding rural areas come to purchase all their general...
s. Sears took advantage of this by publishing his catalog with clearly stated prices, so that consumers could know what he was selling and at what price, and order and obtain them conveniently. The catalog business grew quickly.
The first Sears catalog was published in 1888. By 1894, the Sears catalog had grown to 322 pages, featuring
sewing machineA sewing machine is a textile machine used to stitch fabric, cards and other material together with thread. Sewing machines were invented during the first Industrial Revolution to decrease the amount of manual sewing work performed in clothing companies...
s,
bicycleA bicycle, also known as a bike, pushbike or cycle, is a human-powered, pedal-driven, single-track vehicle, having two wheels attached to a frame, one behind the other. A person who rides a bicycle is called a cyclist, or bicyclist....
s,
sporting goodsSports equipment is a general term for any object used for sport or exercise. Examples of sports equipment include:-Exercise equipment:Examples for exercise include swiss balls, weights, equipment for the gym...
,
automobileAn automobile, autocar, motor car or car is a wheeled motor vehicle used for transporting passengers, which also carries its own engine or motor...
s (produced from 1905–1915 by
Lincoln Motor Car WorksLincoln Motor Car Works was an automobile company in Chicago, Illinois. It produced cars for Sears Roebuck from 1908 until 1912. Nine models were offered, priced between US$325 and $475, with the Model L advertised at $495 complete. They were sold by mail, out of the Sears catalog...
of Chicago, not related to the current
Ford Motor Company brand of the same nameLincoln is an American luxury vehicle brand of the Ford Motor Company. Lincoln vehicles are sold mostly in North America.-History:The company was founded in August 1915 by Henry M. Leland, one of the founders of Cadillac . During World War I, he left Cadillac which was sold to General Motors...
) and a host of other new items.
Organizing the company so it could handle orders on an economical and efficient basis, Chicago clothing manufacturer
Julius RosenwaldJulius Rosenwald was a U.S. clothier, manufacturer, business executive, and philanthropist. He is best known as a part-owner and leader of Sears, Roebuck and Company, and for the Rosenwald Fund which donated millions to support the education of African American children in the rural South, as well...
became a part-owner in 1895. Alvah Roebuck resigned soon after due to ill health, but the company retained his name. By the following year,
dollA doll is a model of a human being, often used as a toy for children. Dolls have traditionally been used in magic and religious rituals throughout the world, and traditional dolls made of materials like clay and wood are found in the Americas, Asia, Africa and Europe. The earliest documented dolls...
s,
refrigeratorA refrigerator is a common household appliance that consists of a thermally insulated compartment and a heat pump that transfers heat from the inside of the fridge to its external environment so that the inside of the fridge is cooled to a temperature below the ambient temperature of the room...
s,
stoveA stove is an enclosed heated space. The term is commonly taken to mean an enclosed space in which fuel is burned to provide heating, either to heat the space in which the stove is situated or to heat the stove itself, and items placed on it...
s and
groceriesA grocery store is a store that retails food. A grocer, the owner of a grocery store, stocks different kinds of foods from assorted places and cultures, and sells these "groceries" to customers. Large grocery stores that stock products other than food, such as clothing or household items, are...
had been added to the catalog.
Sears, Roebuck and Co. soon developed a reputation for quality products and customer satisfaction. By 1895, the company was producing a 532-page catalog with the largest variety of items that anybody at the time could have thought of. Sales were greater than $400,000 in 1893 and more than $750,000 two years later.
In 1906 Sears opened its catalog plant and the Sears Merchandise Building Tower. Also, by that time, the Sears catalog had become known in the industry as "the Consumers' Bible". In 1933, Sears, Roebuck and Co. produced the first of its famous Christmas catalogs known as the "
Sears WishbookThe Sears Wish Book is a popular Christmas-gift catalog released by Sears Holdings Corporation, annually in September. The catalog contains toys and other holiday-related merchandise...
", a catalog featuring toys and gifts, separate from the annual Christmas Catalog. The catalog also entered the language, particularly of rural dwellers, as a euphemism for toilet paper. In the days of
outhouseAn outhouse is a small structure separate from a main building which often contained a simple toilet and may possibly also be used for housing animals and storage.- Terminology :...
s and no readily available toilet paper, the pages of the mass-mailed catalog were used as toilet paper.
Alvah Roebuck returned to the organization during the
Great DepressionThe Great Depression was a severe worldwide economic depression in the decade preceding World War II. The timing of the Great Depression varied across nations, but in most countries it started in about 1929 and lasted until the late 1930s or early 1940s...
, and worked as a spokesperson until his death in 1948. Part of the reason Roebuck left Sears in 1895 was due to the stress the business placed upon him, and he later took some delight in pointing out his longevity versus the much shorter life of Richard Sears. In the 1970s, the name "Roebuck" was dropped from the trade name of the stores, though not from the official corporate name.
Retail stores
The first Sears retail store opened in Chicago on February 2, 1925 in the Merchandise building (in a portion of the company's headquarters at Homan Avenue and Arthington Street). This store included an optical shop and a soda fountain. The first freestanding retail store opened October 5, 1925 in
Evansville, IndianaEvansville is the third-largest city in the U.S. state of Indiana and the largest city in Southern Indiana. As of the 2010 census, the city had a total population of 117,429. It is the county seat of Vanderburgh County and the regional hub for both Southwestern Indiana and the...
. During the summer of 1928 three more Chicago department stores opened, one on the north side at Lawrence and Winchester, a second on the south side at 79th and Kenwood, and the third at 62nd and Western. In 1929 Sears took over the department store business of Becker-Ryan Company. In 1933 Sears tore down the old Becker-Ryan Company store in Englewood, and built the first windowless department store, inspired by the 1932 Chicago World's Fair.
From the 1920s to the 1950s, Sears built many urban department stores. Starting in the 1950s, the company expanded into suburban markets, and malls in the 1960s and 1970s. In 1959, it had formed the
Homart Development CompanyHomart Development Company, a subsidiary of Sears, was one of the largest builders of shopping centers and malls in the United States from 1959 to 1995.-Company history:...
for developing malls. Many of the company's stores have undergone major renovations or replacement since the 1980s. The company was the largest retailer in the US until the early 1980s, but had dropped significantly in rankings by the time it merged with Kmart.
Shop Your Way Rewards
Shop Your Way Rewards is the rewards program of all the Sears Holding Brands. It was started by Kmart as Kmart Smart Rewards as a pilot program. One year after the Smart Rewards Program was started the name and program was changed to Shop Your Way Rewards. During the test part of the program it was limited to certain Sears and Kmart stores. After the test of the program was considered a success by Sears marketing team, it was introduced to all Sears Holding Brands including Sears, The Great Indoors, Sears Grand, Kmart, Lands End, and My Gofer. The program has four tiers. The tiers are Member, VIP Silver, VIP Gold, VIP Platinum, and VIP Executive. The program allows the customer to receive one cent on the dollar as points accumulate. (For example, if a customer earns 22,000 points, it is equivalent to $22.00 for a customer to freely use throughout any Sears Holding stores.) To reach the VIP levels of the program customers must meet a certain spending qualification criteria. Potential members may enroll in the rewards program at any Sears Holdings run outlet or online. Shopyourway Rewards has since replaced the former Craftsman Club Rewards program.
Diversification
Sears began to diversify in the 1930s, adding
Allstate Insurance CompanyThe Allstate Corporation is the second-largest personal lines insurer in the United States and the largest that is publicly held. The company also has personal lines insurance operations in Canada. Allstate was founded in 1931 as part of Sears, Roebuck and Co., and was spun off in 1993...
in 1931 and placing Allstate representatives in its stores in 1934. Over the decades it established major national brands, such as
KenmoreKenmore Appliances was a line of household appliances produced by a variety of manufacturers such as Whirlpool Corp, GE, Panasonic, LG, Bosch, Electrolux, and Mabe Mexico, and controlled by Sears Holdings Corporation; the brand is owned by KCD IP, LLC, a special purpose entity created by Sears...
,
CraftsmanCraftsman is a line of tools and lawn and garden equipment controlled by Sears Holdings Corporation; the brand is owned by KCD IP, LLC, a special purpose entity created by Sears Holdings for securitization purposes....
, DieHard, Silvertone,
SupertoneSupertone Records was a United States record label of the 1920s. Supertone Records were marketed by Sears, Roebuck & Co..Supertone was one of several record disc brand names marketed by Sears....
, and
ToughskinsToughskins are a line of clothing sold by Sears, Roebuck and Co. which were primarily marketed for their durability. When launched, the line consisted just of children's jeans and they were sold with the guarantee that children would grow out of them before the pants wore out. Toughskins had...
. The company became a
conglomerateA conglomerate is a combination of two or more corporations engaged in entirely different businesses that fall under one corporate structure , usually involving a parent company and several subsidiaries. Often, a conglomerate is a multi-industry company...
during the mid-20th century, adding Dean Witter and
Coldwell BankerColdwell Banker is a large real estate franchise founded in 1906 in San Francisco.Coldwell Banker has an international presence, with offices on six continents, 46 countries and territories...
real estate in 1981, starting Prodigy as a joint venture with
IBMInternational Business Machines Corporation or IBM is an American multinational technology and consulting corporation headquartered in Armonk, New York, United States. IBM manufactures and sells computer hardware and software, and it offers infrastructure, hosting and consulting services in areas...
in 1984, and introducing the
Discover credit cardThe Discover Card is a major credit card, issued primarily in the United States. It was originally introduced by Sears in 1985, and was part of Dean Witter, and then Morgan Stanley, until 2007, when Discover Financial Services became an independent company. Novus, a major processing center, used to...
in 1985. In March 2009, Sears purchased the social search engine Delver.
Divestiture and Sears Grand
In the 1990s the company began divesting itself of many non-retail entities, which were detrimental to the company's bottom line. Sears spun off its financial services arm which included brokerage business
Dean Witter ReynoldsDean Witter Reynolds was an American stock brokerage and securities firm catering to retail clients. Prior to its acquisition, it was among the largest retail firms in the securities industry with over 9,000 account executives and was among the largest members of the New York Stock Exchange...
and
Discover CardThe Discover Card is a major credit card, issued primarily in the United States. It was originally introduced by Sears in 1985, and was part of Dean Witter, and then Morgan Stanley, until 2007, when Discover Financial Services became an independent company. Novus, a major processing center, used to...
. It sold its mall building subsidiary Homart to
General Growth PropertiesGeneral Growth Properties, Inc. is a publicly traded real estate investment trust in the United States. It is based in Chicago, Illinois at 110 North Wacker Drive, a historic building designed by architectural firm Graham, Anderson, Probst & White...
in 1995. Sears later acquired hardware chain
Orchard Supply HardwareOrchard Supply Hardware LLC is a California-based "Do-It-Yourself" home and garden retailer. Headquartered in San Jose, California, OSH is a leading chain of home improvement and garden retail stores with nearly 100 locations throughout the state of California.OSH primarily serves retail DIY and...
in 1996 and started home improvement store The Great Indoors in 1997.
In 1993, Sears stopped production of its general merchandise catalog because of sinking sales and profits. Sears Holdings continues to produce specialty catalogs and reintroduced a smaller version of the Holiday
Wish BookThe Sears Wish Book is a popular Christmas-gift catalog released by Sears Holdings Corporation, annually in September. The catalog contains toys and other holiday-related merchandise...
in 2007.
In 2003, Sears sold its retail credit card operation to
CitibankCitibank, a major international bank, is the consumer banking arm of financial services giant Citigroup. Citibank was founded in 1812 as the City Bank of New York, later First National City Bank of New York...
. The remaining card operations were sold to JPMorgan Chase in August 2005.
In 2003, Sears opened a new concept store called Sears Grand. Sears Grand stores carry everything that a regular Sears carries, plus health and beauty,
toyA toy is any object that can be used for play. Toys are associated commonly with children and pets. Playing with toys is often thought to be an enjoyable means of training the young for life in human society. Different materials are used to make toys enjoyable and cuddly to both young and old...
s,
baby careA newborn or baby is the very young offspring of a human or other mammal. A newborn is an infant who is within hours, days, or up to a few weeks from birth. In medical contexts, newborn or neonate refers to an infant in the first 28 days after birth...
, cleaning supplies,
home decorInterior design describes a group of various yet related projects that involve turning an interior space into an effective setting for the range of human activities are to take place there. An interior designer is someone who conducts such projects...
,
pet foodPet food is plant or animal material intended for consumption by pets. Typically sold in pet stores and supermarkets, it is usually specific to the type of animal, such as dog food or cat food...
, cards and party supplies,
bookA book is a set or collection of written, printed, illustrated, or blank sheets, made of hot lava, paper, parchment, or other materials, usually fastened together to hinge at one side. A single sheet within a book is called a leaf or leaflet, and each side of a leaf is called a page...
s,
magazineMagazines, periodicals, glossies or serials are publications, generally published on a regular schedule, containing a variety of articles. They are generally financed by advertising, by a purchase price, by pre-paid magazine subscriptions, or all three...
s,
electronicsElectronics is the branch of science, engineering and technology that deals with electrical circuits involving active electrical components such as vacuum tubes, transistors, diodes and integrated circuits, and associated passive interconnection technologies...
,
musicMusic is an art form whose medium is sound and silence. Its common elements are pitch , rhythm , dynamics, and the sonic qualities of timbre and texture...
,
moviesA film, also called a movie or motion picture, is a series of still or moving images. It is produced by recording photographic images with cameras, or by creating images using animation techniques or visual effects...
, and an edited assortment of
groceriesA grocery store is a store that retails food. A grocer, the owner of a grocery store, stocks different kinds of foods from assorted places and cultures, and sells these "groceries" to customers. Large grocery stores that stock products other than food, such as clothing or household items, are...
. Sears Grand stores are about 175,000 to 225,000 square feet (16,300 to 19,500 m²). The first Sears Grand store (and still the largest at 225,000 sq ft) opened at
Jordan LandingJordan Landing is a master-planned development located in the center of West Jordan, Utah, adjacent to South Valley Regional Airport. Its 500 acre size, containing of retail space, 1,200 residential units, and of office space, places it as a focal point of West Jordan's booming economy.It is one...
in
West Jordan, UtahWest Jordan is a city in Salt Lake County, Utah, United States. West Jordan is a rapidly growing suburb of Salt Lake City and has a mixed economy. According to the 2010 Census, the city had a population of 103,712, placing it as the fourth most populated in the state. The city occupies the...
in 2003.
Merger with Kmart
On November 17, 2004,
KmartKmart, sometimes styled as "K-Mart," is a chain of discount department stores. The chain acquired Sears in 2005, forming a new corporation under the name Sears Holdings Corporation. The company was founded in 1962 and is the third largest discount store chain in the world, behind Wal-Mart and...
announced its intentions to purchase Sears. As a part of the merger, the Kmart Holdings Corporation would change its name to Sears Holdings Corporation. The new corporation announced that it would continue to operate stores under both the Sears and Kmart brands.
In 2005, the company began renovating some Kmart stores and converting them to the
Sears Essentials format, only to change them later to
Sears Grands.
Sears as a hedge fund
It has been speculated that Sears management is interested in more purchases beyond the Kmart takeover of Sears and that investor
Edward LampertEdward S. "Eddie" Lampert is an American businessman and investor. He is the chairman of Sears Holdings Corporation and founder, chairman, and CEO of ESL Investments. Until May, 2007 he was a director of AutoNation, Inc. He previously served as a director of AutoZone, Inc...
is interested in the company becoming an investment company more than a retailer. Some of many possible targets are other companies that the management believes have low stock prices relative to company value. Some mentioned are
SafewaySafeway Inc. , a Fortune 500 company, is North America's second largest supermarket chain after The Kroger Co., with, as of December 2010, 1,694 stores located throughout the western and central United States and western Canada. It also operates some stores in the Mid-Atlantic region of the Eastern...
,
The Home DepotThe Home Depot is an American retailer of home improvement and construction products and services.The Home Depot operates 2,248 big-box format stores across the United States , Canada , Mexico and China, with a 12-store chain...
, and Anheuser–Busch.
The Washington Post, in an article dated March 11, 2007, described the current Sears as a
hedge fundA hedge fund is a private pool of capital actively managed by an investment adviser. Hedge funds are only open for investment to a limited number of accredited or qualified investors who meet criteria set by regulators. These investors can be institutions, such as pension funds, university...
with money being diverted from the maintenance and improvement of stores to non-retail financial investments. A former executive is quoted as saying the company faces an "uncertain future". A third of pre-tax income in the third quarter of 2006 was generated by financial trades, followed by a poor fourth quarter in same.
Subsidiaries
Current
- Sears Department Store is a chain of department store
A department store is a retail establishment which satisfies a wide range of the consumer's personal and residential durable goods product needs; and at the same time offering the consumer a choice of multiple merchandise lines, at variable price points, in all product categories...
s that are located in shopping mallA shopping mall, shopping centre, shopping arcade, shopping precinct or simply mall is one or more buildings forming a complex of shops representing merchandisers, with interconnecting walkways enabling visitors to easily walk from unit to unit, along with a parking area — a modern, indoor version...
s; they carry clothingClothing refers to any covering for the human body that is worn. The wearing of clothing is exclusively a human characteristic and is a feature of nearly all human societies...
, jewelry, home applianceHome appliances are electrical/mechanical machines which accomplish some household functions, such as cooking or cleaning. Home appliances can be classified into:*Major appliances, or White goods*Small appliances, or Brown goods...
s, hardwareHardware is a general term for equipment such as keys, locks, hinges, latches, handles, wire, chains, plumbing supplies, tools, utensils, cutlery and machine parts. Household hardware is typically sold in hardware stores....
, lawnA lawn is an area of aesthetic and recreational land planted with grasses or other durable plants, which usually are maintained at a low and consistent height. Low ornamental meadows in natural landscaping styles are a contemporary option of a lawn...
and gardenA garden is a planned space, usually outdoors, set aside for the display, cultivation, and enjoyment of plants and other forms of nature. The garden can incorporate both natural and man-made materials. The most common form today is known as a residential garden, but the term garden has...
supplies, lawn mowerA lawn mower is a machine that uses a revolving blade or blades to cut a lawn at an even length.Lawn mowers employing a blade that rotates about a vertical axis are known as rotary mowers, while those employing a blade assembly that rotates about a horizontal axis are known as cylinder or reel...
s, paintPaint is any liquid, liquefiable, or mastic composition which after application to a substrate in a thin layer is converted to an opaque solid film. One may also consider the digital mimicry thereof...
, sporting goodsSports equipment is a general term for any object used for sport or exercise. Examples of sports equipment include:-Exercise equipment:Examples for exercise include swiss balls, weights, equipment for the gym...
, automobile repairAn auto mechanic is a mechanic with a variety of car makes or either in a specific area or in a specific make of car. In repairing cars, their main role is to diagnose the problem accurately and quickly...
, office suppliesOffice supplies is the generic term that refers to all supplies regularly used in offices by businesses and other organizations, from private citizens to governments, who work with the collection, refinement, and output of information .The term includes small, expendable, daily use items such as...
, electronicsElectronics is the branch of science, engineering and technology that deals with electrical circuits involving active electrical components such as vacuum tubes, transistors, diodes and integrated circuits, and associated passive interconnection technologies...
and school supplies. Sears stores are usually multi-level. There are 926 full-size Sears stores in the United States. There are also 301 Sears locations in Canada and 66 in Mexico. The largest Sears Department Store is located at the Toronto Eaton CentreThe Toronto Eaton Centre is a large shopping mall and office complex in downtown Toronto, Ontario, Canada, named after the now-defunct Eaton's department store chain that once anchored it. In terms of the number of visitors, the shopping mall is Toronto's top tourist attraction, with around one...
in Canada.
- Sears Hardware Stores are chains of small hardware stores usually located in small towns that are far away from a larger Sears department store. They carry Sears' complete line of Craftsman tools. Sears Hardware Stores also carry other items one would find in hardware stores (such as paint, electrical wiring, water heaters, and tractor-mowers), but under Sears branding. Many of these "Hardware" stores have been changed over to Sears Appliance & Hardware Stores, but there are still many of the original ones left, usually in smaller markets.
- Sears Grand is a chain of hypermarket
In commerce, a hypermarket is a superstore combining a supermarket and a department store. The result is an expansive retail facility carrying a wide range of products under one roof, including full groceries lines and general merchandise...
s typically located away from shopping mallA shopping mall, shopping centre, shopping arcade, shopping precinct or simply mall is one or more buildings forming a complex of shops representing merchandisers, with interconnecting walkways enabling visitors to easily walk from unit to unit, along with a parking area — a modern, indoor version...
s (with the exception of Gurnee MillsGurnee Mills is an indoor mall, established in Gurnee, Illinois. It's located about halfway between Chicago and Milwaukee, Wisconsin, a 40 minute drive either way, and near Six Flags Great America. It is a single-level Z-shaped mall. At of gross leasable area, it is the fourth largest mall in...
, Gurnee, IllinoisIllinois is the fifth-most populous state of the United States of America, and is often noted for being a microcosm of the entire country. With Chicago in the northeast, small industrial cities and great agricultural productivity in central and northern Illinois, and natural resources like coal,...
). Many Sears Grand locations are retrofit remodels of existing Kmart supercenter stores. They carry everything a Sears department store carries, plus health and beauty products, a pharmacy, toyA toy is any object that can be used for play. Toys are associated commonly with children and pets. Playing with toys is often thought to be an enjoyable means of training the young for life in human society. Different materials are used to make toys enjoyable and cuddly to both young and old...
s, baby careA newborn or baby is the very young offspring of a human or other mammal. A newborn is an infant who is within hours, days, or up to a few weeks from birth. In medical contexts, newborn or neonate refers to an infant in the first 28 days after birth...
, cleaning supplies, home décor, pet foodPet food is plant or animal material intended for consumption by pets. Typically sold in pet stores and supermarkets, it is usually specific to the type of animal, such as dog food or cat food...
, cards and party supplies, bookA book is a set or collection of written, printed, illustrated, or blank sheets, made of hot lava, paper, parchment, or other materials, usually fastened together to hinge at one side. A single sheet within a book is called a leaf or leaflet, and each side of a leaf is called a page...
s, magazineMagazines, periodicals, glossies or serials are publications, generally published on a regular schedule, containing a variety of articles. They are generally financed by advertising, by a purchase price, by pre-paid magazine subscriptions, or all three...
s, musicMusic is an art form whose medium is sound and silence. Its common elements are pitch , rhythm , dynamics, and the sonic qualities of timbre and texture...
, Little Caesars Pizza Station, moviesA film, also called a movie or motion picture, is a series of still or moving images. It is produced by recording photographic images with cameras, or by creating images using animation techniques or visual effects...
, and a selection of groceriesA grocery store is a store that retails food. A grocer, the owner of a grocery store, stocks different kinds of foods from assorted places and cultures, and sells these "groceries" to customers. Large grocery stores that stock products other than food, such as clothing or household items, are...
which is limited mostly to dry goodsDry goods are products such as textiles, ready-to-wear clothing, and sundries. In U.S. retailing, a dry goods store carries consumer goods that are distinct from those carried by hardware stores and grocery stores, though "dry goods" as a term for textiles has been dated back to 1742 in England or...
. Sears Grand stores range from 165,000 to 210,000 square feet (15,300 to 19,500 m²). The first Sears Grand opened at Jordan LandingJordan Landing is a master-planned development located in the center of West Jordan, Utah, adjacent to South Valley Regional Airport. Its 500 acre size, containing of retail space, 1,200 residential units, and of office space, places it as a focal point of West Jordan's booming economy.It is one...
in West Jordan, UtahWest Jordan is a city in Salt Lake County, Utah, United States. West Jordan is a rapidly growing suburb of Salt Lake City and has a mixed economy. According to the 2010 Census, the city had a population of 103,712, placing it as the fourth most populated in the state. The city occupies the...
in 2003. At 225000 square feet (20,903.2 m²), the Jordan Landing store is currently the largest in the chain.
- Sears Essentials is a chain of discount store
A discount store is a type of department store, which sells products at prices lower than those asked by traditional retail outlets. Most discount department stores offer a wide assortment of goods; others specialize in such merchandise as jewelry, electronic equipment, or electrical appliances...
s that are common retrofit remodels of existing KmartKmart, sometimes styled as "K-Mart," is a chain of discount department stores. The chain acquired Sears in 2005, forming a new corporation under the name Sears Holdings Corporation. The company was founded in 1962 and is the third largest discount store chain in the world, behind Wal-Mart and...
stores. Their product lines are similar to that of Sears Grand stores. Current locations include: Elmhurst, ILElmhurst is a suburb of Chicago in DuPage and Cook Counties, Illinois. The population is 46,013 as of the 2008 US Census population estimate.-History:...
(reverting to a Kmart), East Ridge, TNEast Ridge is a city in Hamilton County, Tennessee, United States. As of the 2010 census, the city population was 20,979. East Ridge is bordered by Chattanooga to the west, north and east, and the Georgia state line to the south. It is part of the Chattanooga, TN–GA Metropolitan Statistical...
(now closed from a recent flood), Bethlehem, PABethlehem is a city in Lehigh and Northampton Counties in the Lehigh Valley region of eastern Pennsylvania, in the United States. As of the 2010 census, the city had a total population of 74,982, making it the seventh largest city in Pennsylvania, after Philadelphia, Pittsburgh, Allentown, Erie,...
, Lakeland, FLLakeland is a city in Polk County, Florida, United States, located approximately midway between Tampa and Orlando along Interstate 4. According to the 2008 U.S. Census Bureau estimate, the city had a population of 94,406...
, West Palm Beach, FLWest Palm Beach, is a city located on the Atlantic coast in southeastern Florida and is the most populous city in and county seat of Palm Beach County, the third most populous county in Florida with a 2010 population of 1,320,134. The city is also the oldest incorporated municipality in South Florida...
, San Clemente, CASan Clemente is a city in Orange County, California. The population was 63,522 at the 2010 census. Located on the California Coast, midway between Los Angeles and San Diego at the southern tip of the county, it is known for its ocean, hill, and mountain views, a pleasant climate and its Spanish...
, Corona, CA, San Diego, CA, Tewksbury, MA, and Peoria, AZPeoria is a city in Maricopa and Yavapai counties in the U.S. state of Arizona. Located primarily in Maricopa County, it is a major suburb of Phoenix. According to 2010 Census Bureau releases, the population of the city is 154,065. Peoria is currently the sixth largest city in Arizona for land...
.
- Sears Appliance & Hardware is a chain of hardware store
Hardware stores, sometimes known as DIY stores, sell household hardware including: fasteners, hand tools, power tools, keys, locks, hinges, chains, plumbing supplies, electrical supplies, cleaning products, housewares, tools, utensils, paint, and lawn and garden products directly to consumers for...
s that carry the whole line of Sears hardware and are usually free-standing. More than 110 Sears Appliance & Hardware stores averaging 40000 square feet (3,716.1 m²) serve customers nationwide. Stores were expanded to include Sears' full line of appliances in 2005.
- Sears Optical is a chain of off-mall optical shops which carries all the same products and services as the optical department at regular Sears stores.
- Sears Hometown Stores(formerly known as Sears Authorized Dealer Stores) is part of the retail operation of Sears Holdings Corporation and is a small store version of Sears full-line department stores. Sears Hometown Stores, established in 1993, is a franchise formula and Sears Home Appliance Showroom, established in 2007, offers primarily appliances. The stores are located away from shopping malls and serve local communities across the United States and Puerto Rico.
- Sears Outlet is an outlet
An outlet store or factory outlet is a brick and mortar or online retail store in which manufacturers sell their stock directly to the public. Traditionally, a factory outlet was a store attached to a factory or warehouse, sometimes allowing customers to watch the production process like in the...
version of Sears department storeA department store is a retail establishment which satisfies a wide range of the consumer's personal and residential durable goods product needs; and at the same time offering the consumer a choice of multiple merchandise lines, at variable price points, in all product categories...
s located in various retail locations across the United States. The stores carry new, one-of-a-kind, out of carton, discontinued, used, scratched and dented merchandise at 20–60% off regular retail price. While a wide variety of products are available, appliances make up a large majority of available merchandise. Sears Outlet stores were once known as Sears Surplus.
- Sears Parts & Repair Center, also known as Sears Service Center and Sears Home Central, is a chain of service centers that typically sell parts for lawn & garden equipment and appliances and also feature a carry-in point for customers to bring-in merchandise which needs to be repaired, either in or out of warranty. Sears has started closing many of these as more of its service and repair business is home-based.
- The Great Indoors
-History:The Great Indoors concept was introduced in 1997 by Sears. They believed the chain could have 150 stores within the next 10 years. However, the chain did not prove successful, and Sears started closing stores. All stores in California are closing, with two remaining in Burbank, CA and...
is a chain of free-standing home decorInterior design describes a group of various yet related projects that involve turning an interior space into an effective setting for the range of human activities are to take place there. An interior designer is someone who conducts such projects...
stores that carry high-end home appliancesA major appliance, or domestic appliance, is usually defined as a large machine which accomplishes some routine housekeeping task, which includes purposes such as cooking, or food preservation, whether in a household, institutional, commercial or industrial setting...
, beddingBedding refers to the materials laid above the mattress of a bed for hygiene, warmth, to protect the mattress, and for decorative effect. Bedding is the removable and washable portion of a human sleeping environment. It is more easily and economically replaced than the bed itself...
, and kitchenA kitchen is a room or part of a room used for cooking and food preparation.In the West, a modern residential kitchen is typically equipped with a stove, a sink with hot and cold running water, a refrigerator and kitchen cabinets arranged according to a modular design. Many households have a...
and bath fixtures. The Great Indoors also offers custom kitchen and bathroom design services. The Great Indoors stores are 130000 square feet (12,077.4 m²) on average.
- Lands' End
Lands' End is a clothing retailer based in Dodgeville, Wisconsin, that specializes in casual clothing, luggage, and home furnishings. The majority of Lands' End's business is conducted through mail order and Internet sales, but the company also runs more than a dozen retail operations, primarily in...
, aside from supplying its clothing line to Sears stores, also has 16 stores operated by Sears Holdings that carry only Lands' End clothingClothing refers to any covering for the human body that is worn. The wearing of clothing is exclusively a human characteristic and is a feature of nearly all human societies...
. These stores are located in outlet malls and regular malls.
- Orchard Supply Hardware
Orchard Supply Hardware LLC is a California-based "Do-It-Yourself" home and garden retailer. Headquartered in San Jose, California, OSH is a leading chain of home improvement and garden retail stores with nearly 100 locations throughout the state of California.OSH primarily serves retail DIY and...
is a chain of free-standing hardware storeHardware stores, sometimes known as DIY stores, sell household hardware including: fasteners, hand tools, power tools, keys, locks, hinges, chains, plumbing supplies, electrical supplies, cleaning products, housewares, tools, utensils, paint, and lawn and garden products directly to consumers for...
s that carry home repair, hardware products and lawn and garden supplies. Orchard Supply Hardware stores are 40000 square feet (3,716.1 m²). There are currently 88 stores, all of them in CaliforniaCalifornia is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
. Sears now owns 80.1% of the chain, and revealed intentions in May 2005 to spin it off. Richard KarnRichard Karn is an American actor and game show host. He is most well known for his co-starring role as Al Borland in the 1990s sitcom Home Improvement and his tenure as the host of Family Feud during the 2000s.-Early life:...
of Home Improvement fame was a spokesman for the chain.
- A&E Factory Service is the newest name for Sears' longstanding on-site repair service, servicing larger items such as home appliances, electronics, and garden equipment. The A&E brand name was purchased from Montgomery Ward
Montgomery Ward is an online retailer that carries the same name as the former American department store chain, founded as the world's #1 mail order business in 1872 by Aaron Montgomery Ward, and which went out of business in 2001...
, which used it for their home service unit, and is a joint venture held by Whirlpool and Sears Holdings. A&E Factory Service is a network of mobile service vans with a long history of performing appliance repairs.
Former
- National Tire and Battery
National Tire and Battery is an American brand of auto service centers. It was formerly owned by Sears until it was spun off in 2003.Sears created the brand in 1997 by consolidating the Tire America and National Tire Warehouse brands, adding the "B" to include its DieHard brand of batteries...
& National Tire Warehouse (NTW) (NTB) is an American brand of auto service centers. It was formerly owned by Sears until it was spun off in 2003. Sears created the brand in 1997 by consolidating the Tire America (TA) and National Tire Warehouse (NTW) brands, adding the "B" to include its DieHard brand of batteries. Sears sold the brand, which consisted mostly of stores set apart from its name brand stores, in 2003 to TBC Corporation. A Sears spokesman said "Because of the separate branding and the lack of proximity to our retail operations, we weren't able to drive growth like a TBC could". The chain of 226 stores was reported to have brought in $425 million in revenue and $60 million in profit in 2002.
- Sears Brand Central was an electronics store. The appliances departments in Sears are now known and referred to internally as Brand Central, although they are not marketed to consumers as such, except for a few locations in Puerto Rico.
- Sears Catalog Sales Stores were located in small towns. These stores were very small, even smaller than Sears' current Hometown Dealer stores. At catalog stores, some items could be ordered from the floor, such as appliances; other items could be ordered from catalogs at the store. These stores were often placed in rural markets which were far from full-line Sears stores, allowing for customers to purchase Sears products more easily. These stores were closed in 1993 when Sears closed its catalog business.
- Sears Authorized Catalog Sales Merchant was an independent business person who provided many of the same services as the Sears Catalog Sales Store.
- Sears Appliance Stores were small stores that displayed and sold (at Retail Store prices) appliances, carpeting, etc. and, in addition, provided a catalog sales department through which catalog items could be ordered.
- Sears Rent-a-Car was a car rental chain formed in a joint venture with Budget
Budget Rent a Car System, Inc. is an American car rental company that was founded in 1958 in Los Angeles, California by Morris Mirkin. Budget's operations are headquartered in Parsippany-Troy Hills Township, New Jersey....
. It was sold to AvisAvis Rent a Car System, LLC is a car rental company headquartered in Parsippany-Troy Hills Township, New Jersey, United States. Avis, Budget Rent a Car and Budget Truck Rental are all units of Avis Budget Group....
in 2002.
- Sears HomeLife was a chain of furniture stores owned by Sears. The concept was introduced at a mall in Fresno, California
Fresno is a city in central California, United States, the county seat of Fresno County. As of the 2010 census, the city's population was 510,365, making it the fifth largest city in California, the largest inland city in California, and the 34th largest in the nation...
in 1989, followed by a stand-alone store in Madison, WisconsinMadison is the capital of the U.S. state of Wisconsin and the county seat of Dane County. It is also home to the University of Wisconsin–Madison....
. Sears sold the stores to Citicorp Venture in 1999, who changed the chain's name to just "HomeLife". They opened many locations inside large Sears stores or near the store depending on space available. HomeLife closed its last stores in 2001. In Puerto Rico, a few HomeLife locations are still present.
- Sears Neighborhood was a chain similar to Sears Hometown stores, except that Neighborhood stores were located in urban markets. These stores were also independently owned and operated. The concept was introduced in Atlanta in 1998, and another similar store was located in Cincinnati. The Neighborhood stores closed in the early 2000s.
Past and present store brands
- Allstate
The Allstate Corporation is the second-largest personal lines insurer in the United States and the largest that is publicly held. The company also has personal lines insurance operations in Canada. Allstate was founded in 1931 as part of Sears, Roebuck and Co., and was spun off in 1993...
– Automobile parts and insurance
- Celestial Star
Celestial Star is the trademarked brand name that Sears Holdings Corporation uses for its certified diamond jewelry. Celestial Star quality is also referred to as "best" diamond quality by Sears employees...
– Diamond Jewelry
- Challenge Records
Challenge Records was a record label sold by the Sears-Roebuck Company. Releases were drawn from other recordings on other labels in the late 1920s, such as Banner, Gennett, Paramount Records and others. Sears also had the Silvertone label and the same recording of "Black Bottom" by Joe Candullo &...
- Cheryl Tiegs
Cheryl Rae Tiegs is an American model and actress.- Early years :Tiegs was born in Breckenridge, Minnesota but raised in Alhambra, California, and she graduated from Alhambra High School in 1965. She also attended the California State University, Los Angeles and became a little sister to the Sigma...
– Clothing
- Coldspot
Kenmore Appliances was a line of household appliances produced by a variety of manufacturers such as Whirlpool Corp, GE, Panasonic, LG, Bosch, Electrolux, and Mabe Mexico, and controlled by Sears Holdings Corporation; the brand is owned by KCD IP, LLC, a special purpose entity created by Sears...
– Appliances, refrigerators
- Companion – Tools
- Conqueror Records
Conqueror Records was a United States-based record label, active from about 1926 through 1942. The label was sold exclusively through Sears, Roebuck and Company.The record sleeves state that the proper playing speed for Conqueror Records is 80 rpm....
- Covington - Clothing
- Craftsman
Craftsman is a line of tools and lawn and garden equipment controlled by Sears Holdings Corporation; the brand is owned by KCD IP, LLC, a special purpose entity created by Sears Holdings for securitization purposes....
– Tools
- Craftsman Professional – Top of the line Sears tools
- Dashmate Automobile Radios & Tape players
- David Bradley – Farm Machinery
- Dean Witter Reynolds
Dean Witter Reynolds was an American stock brokerage and securities firm catering to retail clients. Prior to its acquisition, it was among the largest retail firms in the securities industry with over 9,000 account executives and was among the largest members of the New York Stock Exchange...
- financial service, brokerage
- Diehard – Batteries
- Discover
The Discover Card is a major credit card, issued primarily in the United States. It was originally introduced by Sears in 1985, and was part of Dean Witter, and then Morgan Stanley, until 2007, when Discover Financial Services became an independent company. Novus, a major processing center, used to...
– Credit card
- Dunlap – Economy line of tools
- Easy Living – Interior paint, primers, and painting accessories.
- Economy – iceboxes, fountain pens, sewing machine cabinets, gasoline engines, portable saw rigs, variety of farm equipment, cream separator
- Evolv – A do it yourself line of tools marketed with eco friendly green packaging
- Gold Bond – Mens & Boys footwear
- Goolagong - clothing
- Harmony House – Interior Decorating Products
- Hearthside – Rug looms & quilting frames
- Hercules – work clothing, appliances, insurance (Hercules Life Insurance Company, owned by Sears), sewage systems, letterman's jackets, fire extinguishers, heavy-duty coveralls, and home heating systems.
- Homart – Heating and Cooling systems, plumbing supplies, electrical supplies, kitchen cabinets, building supplies
- J. C. Higgins – Sporting Goods, camping
- Kenmore
Kenmore Appliances was a line of household appliances produced by a variety of manufacturers such as Whirlpool Corp, GE, Panasonic, LG, Bosch, Electrolux, and Mabe Mexico, and controlled by Sears Holdings Corporation; the brand is owned by KCD IP, LLC, a special purpose entity created by Sears...
– Appliances
- Kromedge – Sawblades, Dadoes, Moldering Heads, Router Bits
- Penske – Automotive testing tools
- Permanex – Blow-molded Polyethylene Tool Storage Cases, gas cans
- Pilgrim – Clothing
- Roebucks – Clothing
- Sears Brand – Various items from all departments
- Sears Video Arcade - Sears's own version of Atari
Atari is a corporate and brand name owned by several entities since its inception in 1972. It is currently owned by Atari Interactive, a wholly owned subsidiary of the French publisher Atari, SA . The original Atari, Inc. was founded in 1972 by Nolan Bushnell and Ted Dabney. It was a pioneer in...
in the early 1980s; discontinued in favor of the actual Atari systems
- Silvertone
Silvertone was the brand name used by Sears, Roebuck and Company for its line of sound equipment from 1915 to 1972. A hand-cranked phonograph was introduced under the Silvertone brand by Sears in 1915...
– Stereos, Televisions, Musical Instruments
- Silvertone Records
Silvertone Records was a record label manufactured for Sears, Roebuck and Co. for sale in their chain of department stores and through mail order....
- Supertone Records
Supertone Records was a United States record label of the 1920s. Supertone Records were marketed by Sears, Roebuck & Co..Supertone was one of several record disc brand names marketed by Sears....
- Ted Williams Brand – Sporting Goods
- Toughskins
Toughskins are a line of clothing sold by Sears, Roebuck and Co. which were primarily marketed for their durability. When launched, the line consisted just of children's jeans and they were sold with the guarantee that children would grow out of them before the pants wore out. Toughskins had...
– Clothing
- Tower – Cameras, photo supplies, office equipment
- Weatherbeater – Exterior paint, primers, and accessories.
Employee relations
Sears has struggled with employee relations. One notable example being the shift in 1992 from an hourly wage based on longevity, to a base wage (usually anywhere from $3.50 to $6 per hour) and commissions ranging from 1% to 11%. This new base wage, often constituting a substantial (up to 40%) cut in pay, was done "to be successful in this highly competitive environment."
In early October 2007 Sears cut commission rates for employees in select departments to anywhere from 1% to 4% but equalized the base wage across all Home Improvement and Electronics departments. This cut was furthered in late 2009 to a 1% commission rate on selected "base items" in the electronics departments of Stores. Appliances, vacuums, and mattresses are the only departments left where wages are based solely on commission sales. The jewelry department associates receive a low base salary with 1% commission on their sales. This model does not apply to all stores. Many stores now simply pay an hourly wage in the fine jewelry department, with no sales-based commission. In early 2008 Sears also converted Lands' End from commission to a straight hourly wage. Stores that feature a 'Lands' End Shop' are based on an hourly wage and a 3% commission on all catalog/internet sales placed from within their store.
Associates receive an associate discount. 20% off on clothing, shoes, and jewelry. They also receive 10% off on everything else in the store, including Great Price items. Any associate orders done through the Lands' End Internal site receive 30% off with the associates paying a $6 fee for shipping and handling of any size order.
The domain
sears.com attracted at least
240 million visitors annually by 2011 according to a
Compete.comCompete.com is a web traffic analysis service of Compete, Inc. which operates in the United States and publishes the approximate number of global visitors to the top 1,000,000 web sites in the world...
survey. Sears saw profits drop 13% during the fourth quarter of 2010 but still has total assets of $26.05 billion as of the first quarter of 2011.
Sears Tower
Sears made history in 1974 when it completed the 110-story Sears Tower in Chicago. The tower became the world's tallest building upon its completion, a title it held until the completion of the
Petronas Twin TowersThe Petronas Towers are skyscrapers and twin towers in Kuala Lumpur, Malaysia...
in
Kuala LumpurKuala Lumpur is the capital and the second largest city in Malaysia by population. The city proper, making up an area of , has a population of 1.4 million as of 2010. Greater Kuala Lumpur, also known as the Klang Valley, is an urban agglomeration of 7.2 million...
in 1996. It remains the
tallest building in the United States.
Seeking to spread its operations out in a business park, Sears left in 1993 and subsequently sold the tower, moving to
Hoffman Estates, IllinoisHoffman Estates is a northwestern suburb of Chicago in Illinois. The village is located primarily in Cook County with a small section in Kane County, Illinois. As of the 2000 census, the village population was 49,495 and estimated to be 52,520 in 2003...
. Even though its naming rights to the building expired in 2003 it remained the Sears Tower through early 2009. In March 2009 London-based insurer
Willis Group Holdings, Ltd.Willis Group Holdings is a global insurance broker headquartered in the Willis Building, London, United Kingdom. It has more than 400 offices in 120 countries, and approximately 17,000 employees...
, was given the building's naming rights to entice the occupancy of the building. The official renaming as the
Willis Tower took place on Thursday, July 16, 2009, during a public ceremony hosted by Willis Group Holdings.
New headquarters
Sears moved to the new Prairie Stone Business Park in Hoffman Estates, Illinois between 1993 and 1995. The office park has a focus on technology and sustainability, featuring an extensive landscaping plan that uses native prairie plants wherever possible, and a system of several express bus routes coordinated with
PacePace is the suburban bus division of the Regional Transportation Authority in the Chicago metropolitan area. It was created in 1983 by the RTA Act, which established the formula that provides funding to CTA, Metra and Pace. In 2010, Pace had 35.077 million riders. Pace's headquarters are in...
to encourage public transportation use with a future stop on the
Metra STAR LineThe Suburban Transit Access Route is a proposed railway project in northwest and outer suburban Chicago, Illinois, USA. On January 30, 2003, Metra announced plans to build a new service line that would introduce a new fleet of Diesel multiple unit trains to connect nearly 100 communities in the...
. Despite these services, the remote location of Prairie Stone means that it is much less well served by public transportation than the centrally-located Sears Tower.
Sears Centre Arena
Recently opened is the 25% Sears owned Sears Centre Arena.
Ryan CompaniesRyan Companies US, Inc. is a national builder, developer, designer and real estate manager.Employing nearly 600 workers, Ryan is a construction company that specializes in integrated project delivery, building information modeling , Lean construction practices and sustainable design for office,...
owns the remaining 75%, and other offices and hotels are being developed on the Prairie Stone campus.
See also
- Sears Canada
Sears Canada Inc. is a retailer, headquartered in Toronto, Ontario, that operates in all provinces and territories across Canada with a network of 196 corporate stores, 195 dealer stores, 38 home improvement showrooms, 108 Sears Travel offices and a nationwide home maintenance, repair, and...
- Sears Mexico
- Sears plc
Sears plc was a large British-based conglomerate. The Company was listed on the London Stock Exchange and was once a constituent of the FTSE 100 Index but it was acquired by Sir Philip Green in 1999.-History:...
, former U.K. company
External links