Sears Holdings Corporation is a retail conglomerate formed in 2005 by the merger of Sears, Roebuck and Co., of
Hoffman EstatesHoffman 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...
,
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,...
, with
Kmart Holdings CorporationKmart, 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...
, of
TroyTroy is a city in Oakland County in the U.S. state of Michigan, and is a suburb of Detroit. The population was 80,980 at the 2010 census, making it the 11th-largest city in Michigan by population, and the largest city in Oakland County...
,
MichiganMichigan is a U.S. state located in the Great Lakes Region of the United States of America. The name Michigan is the French form of the Ojibwa word mishigamaa, meaning "large water" or "large lake"....
. The company operates 3,900 retail locations under the mastheads of Sears, Sears Grand, Sears Essentials, Sears Hometown Stores, Sears Hardware, Kmart, Big Kmart, Super Kmart, The Great Indoors, Orchard Supply Hardware, and
Lands' EndLands' 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...
stores. It is the tenth largest retailer by annual revenue in the
United StatesThe United States of America is a federal constitutional republic comprising fifty states and a federal district...
trailing behind
Wal-MartWal-Mart Stores, Inc. , branded as Walmart since 2008 and Wal-Mart before then, is an American public multinational corporation that runs chains of large discount department stores and warehouse stores. The company is the world's 18th largest public corporation, according to the Forbes Global 2000...
,
KrogerThe Kroger Co. is an American supermarket chain founded by Bernard Kroger in 1883 in Cincinnati, Ohio. It reported US$ 76.7 billion in sales during fiscal year 2009. It is the country's largest grocery store chain and its second-largest grocery retailer by volume and second-place general retailer...
,
TargetTarget Corporation, doing business as Target, is an American retailing company headquartered in Minneapolis, Minnesota. It is the second-largest discount retailer in the United States, behind Walmart. The company is ranked at number 33 on the Fortune 500 and is a component of the Standard & Poor's...
,
WalgreensWalgreen Co. , doing business as Walgreens , is the largest drugstore chain in the United States of America. As of August 31st, the company operates 8,210 locations across all 50 states, the District of Columbia and Puerto Rico. Founded in Chicago, Illinois in 1901, and has since expanded...
,
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...
,
CostcoCostco Wholesale Corporation is the largest membership warehouse club chain in the United States. it is the third largest retailer in the United States, where it originated, and the ninth largest in the world...
,
CVS CaremarkCVS Caremark Corporation is an integrated pharmacy services provider, combining a United States pharmaceutical services company with a U.S. pharmacy chain...
,
Lowe'sLowe's Companies, Inc. is a U.S.-based chain of retail home improvement and appliance stores. Founded in 1946 in North Wilkesboro, North Carolina, the chain now serves more than 14 million customers a week in its 1,710 stores in the United States and 20 in Canada. Expansion into Canada began in...
and
Best BuyBest Buy Co., Inc. is an American specialty retailer of consumer electronics in the United States, accounting for 19% of the market. It also operates in Mexico, Canada & China. The company's subsidiaries include Geek Squad, CinemaNow, Magnolia Audio Video, Pacific Sales, and, in Canada operates...
.
The company maintains its corporate headquarters in Hoffman Estates.
Kmart and Sears merger
On November 17, 2004, Kmart Holdings Corporation announced its intention to purchase Sears, Roebuck and Co. The new corporation announced that it would continue to operate stores under both the Sears and Kmart brands. The merger of Kmart and Sears closed on March 24, 2005, following affirmative shareholder votes of both companies. Sears Holdings will operate Sears and Kmart stores. The company will continue to market products under brands held by both companies.
The two companies cited several reasons for combining forces:
- Sears had begun investing in new, larger off-mall stores, called Sears Grand. Earlier in the year, Sears had purchased dozens of current Super Kmart locations; the merger permitted the combined company to accelerate that process.
- Proprietary brand
The American Marketing Association defines a brand as a "Name, term, design, symbol, or any other feature that identifies one seller's good or service as distinct from those of other sellers."...
s held by both companies could be made more accessible to their target demographics by leveraging their combined real estate holdings. This was estimated to be an expected $200 million a year in revenue synergiesSynergy may be defined as two or more things functioning together to produce a result not independently obtainable.The term synergy comes from the Greek word from , , meaning "working together".-Definitions and usages:...
.
- At least $300 million a year in cost savings was expected annually, particularly in the supply chain
A supply chain is a system of organizations, people, technology, activities, information and resources involved in moving a product or service from supplier to customer. Supply chain activities transform natural resources, raw materials and components into a finished product that is delivered to...
and in administrative overhead.
- The establishment of a shared customer-focused corporate culture between the two companies was estimated to yield improvements in revenue
In business, revenue is income that a company receives from its normal business activities, usually from the sale of goods and services to customers. In many countries, such as the United Kingdom, revenue is referred to as turnover....
per unit area.
- Preservation of two brands after the merger allowed Sears Holdings to continue focusing on different customer demographics, without alienating either group.
The new company is directed by a
board of directorsA board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
composed of members from the two companies: seven members from Kmart's board, and three from Sears. Shareholders in the Kmart Corporation received one share in the new company. Shares of Sears, Roebuck and Company stock were converted into a combination of 55 percent stock and 45 percent cash (at $50 a share). Stockholders had a choice of receiving either stock or cash, subject to the predefined ratio.
The merger was completed on March 24, 2005, after receiving regulatory approval from the government and approval by shareholders of both companies.
It might be well to note that the "merger" of Sears and Kmart actually took place within Kmart Corporation itself. The acquisition of Sears and Roebuck by Kmart Corporation was in practicality a hostile takeover which started shortly after Kmart Corporation exited chapter 11 in the mid 2003. The "story" goes that Kmart "wanted the stores back" that it had sold to Sears during its chapter 11 reorganization.
Kmart Corporation, in particular the Chairman of the Board at the time, purchased at least 51% of Sears stock and then held controlling interest in Sears. After the takeover Kmart Corporation created subsidiaries of Sears Holdings and Kmart Holdings UNDER the Kmart Corporation! And then "merged" the companies' subsidiaries and Sears and Roebuck into the company organization that you see today. Thus, what you see today is in reality the Kmart Corporation going by the name of Sears Holdings Corporation.
It would be well to note the organization of the Board of Directors mentioned in a previous paragraph. The Chairman of the Board of Kmart retained his position because Kmart Corporation owned controlling shares of Sears.
Kmart/Sears have scrubbed/changed much of the press releases, other documents, and internet connections in relation to this takeover to make it appear that this was a simple merger. On examining some of the old documents it can be seen that the articles start out with "Kmart Holding Company" replacing "Kmart Corporation" but farther down in the article you will find references to "Kmart Corporation", NOT "Kmart Holding Company".
http://www.searsholdings.com/pubrel/kmartpress.jsp
http://www.searsholdings.com/pubrel/kmart/htm/pr030506a.htm
http://www.searsholdings.com/pubrel/kmart/htm/pr030506b.htm
Sears Holdings today
Sears Holdings continues to operate stores under the Sears and Kmart
mastheadsThe American Marketing Association defines a brand as a "Name, term, design, symbol, or any other feature that identifies one seller's good or service as distinct from those of other sellers."...
. In 2005, Sears introduced a new store format called Sears Essentials; some Kmart stores were converted to Sears Essentials, as well as a few locations that were acquired from Wal-Mart and several bankrupt discount retailers. The new store format combined the Sears store concept with the Kmart format, which was supposed to help the company better compete with Wal-Mart and Target. The project has since been resigned, and merged with the Sears Grand concept.
Sears Holdings has begun cross-selling merchandise between its two brands. For example,
Craftsman toolsCraftsman 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....
are now available in Kmart stores; they were previously exclusive to the Sears brand. However, Martha Stewart brand paint colors are now no longer available at Sears.
Sears Holdings owns 92 percent of
Sears CanadaSears 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...
, a large
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...
chain in Canada, similar to the U.S. stores. (Sears Holdings failed in 2006 to buy the remainder of Sears Canada that it does not own because
Bill AckmanWilliam A. Ackman or commonly known as Bill Ackman is the major investor, founder and CEO of hedge fund Pershing Square Capital Management LP. At one point in December 2007 his funds owned a 10% stake in Target Corporation, valued at $4.2 billion through the purchase of stock and derivatives. His...
took a 17.3 percent stake in it and prevented any takeover. He accepted to sell his stake at $30 a share on April 23, 2010.) Sears Holdings also owns 20 percent of
Sears MexicoSears Roebuck de México is a department store chain located in Mexico, operating more than 55 stores all over Mexico. Sears México is operated by Grupo Carso...
;
Carlos SlimCarlos Slim Helú is a Mexican business magnate and philanthropist who as of 2011 is the richest person in the world, for the second year in a row...
owns the other 80 percent. Like Target stores,
Kmart-branded storesKmart Australia Limited is a discount department store chain owned by Wesfarmers. It operates 172 stores in Australia and 15 in New Zealand, with its head office located in Mulgrave, Victoria. Wesfarmers uses the Kmart name under licence from Sears Holdings Corporation.-History:Kmart Australia...
in
AustraliaAustralia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
belong to
WesfarmersWesfarmers Limited is one of Australia’s largest public companies and one of Australia's largest retailers. Its headquarters are in Perth, Western Australia....
(which acquired former owners
Coles GroupColes Group Limited was an Australian public company that operated numerous retail chains. It was Australia's second-largest retailer, behind Woolworths Limited...
in 2007); Wesfarmers also holds the rights to the Kmart brand in
New ZealandNew Zealand is an island country in the south-western Pacific Ocean comprising two main landmasses and numerous smaller islands. The country is situated some east of Australia across the Tasman Sea, and roughly south of the Pacific island nations of New Caledonia, Fiji, and Tonga...
.
In 2005, Sears Holdings sold a stake in hardware chain Orchard Supply Hardware to private equity firm
Ares ManagementAres Management LLC, an SEC registered investment adviser, is a leading investment firm focused on alternative credit-based strategies, including private equity, private debt, and capital markets activities...
.
In November 2006, speculation rolled around as
The Chicago Sun Times reported that Sears may buy
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...
, Home Depot,
GapThe Gap, Inc. is an American clothing and accessories retailer based in San Francisco, California, and founded in 1969 by Donald G. Fisher and Doris F. Fisher. The company has five primary brands: the namesake Gap banner, Banana Republic, Old Navy, Piperlime and Athleta. As of September 2008,...
,
Radio ShackRadio shack is a slang term for a room or structure for housing radio equipment.-History:In the early days of radio, equipment was experimental and home-built. The first radio transmitters used a noisy spark to generate radio waves and were often housed in a garage or shed. When radio was first...
,
Pep BoysThe Pep Boys — Manny, Moe & Jack , branded as Pep Boys Auto and commonly abbreviated as Pep Boys, is a full-service and tire automotive aftermarket chain....
, Anheuser Busch or all six companies.
The Washington PostThe Washington Post is Washington, D.C.'s largest newspaper and its oldest still-existing paper, founded in 1877. Located in the capital of the United States, The Post has a particular emphasis on national politics. D.C., Maryland, and Virginia editions are printed for daily circulation...
, in a March 11, 2007, article, 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 was quoted as saying the company faced an "uncertain future". Surprisingly, a third of pre-tax income in the third quarter of 2006, according to
The Washington Post, was due to financial trades not the retail business. However, these investments performed poorly in the fourth quarter.
In 2007, the company placed its three major brands in KCD IP, a "separate, wholly owned, bankruptcy-remote subsidiary". KCD stands for the three brands: Kenmore, Craftsman, DieHard. KCD IP then issued $1.8 billion in bonds that were sold to Sears' insurance subsidiary based in
BermudaBermuda is a British overseas territory in the North Atlantic Ocean. Located off the east coast of the United States, its nearest landmass is Cape Hatteras, North Carolina, about to the west-northwest. It is about south of Halifax, Nova Scotia, Canada, and northeast of Miami, Florida...
. Sears would thus pay KCD for use of the three brands' trademarks.
On December 14, 2007, the company submitted a draft merger agreement to buy
Restoration HardwareRestoration Hardware is an American furniture chain of home furnishings, bath fixtures and bathware, functional and decorative hardware and related merchandise. The company defines its wares as classic and authentic American. Restoration Hardware, Inc. sells its merchandise offering through its...
for $6.75 a share. Sears already owned 13.7 percent of the company. That offer was withdrawn after Restoration's shares tumbled and a competing bid from private equity firm
Catterton PartnersCatterton Partners is a private equity firm specializing in leveraged buyouts, recapitalizations and growth capital investments in middle-market companies...
was lowered to $4.50 per share. On February 28, Sears Holdings made an offer of $4.55 a share.
In June 2008, Sears launched Servicelive.com, which was intended to connect Sears customers with local contractors for home improvement projects. The site charges 10 percent of the contract price for each completed service, and offers more than 40,000 contractors. Servicelive.com was redesigned in March 2010.
On February 22, 2010, the Sears Automotive business launched a new Independent Sears Auto Center franchise program that offers automobile dealers the opportunity to operate licensed Sears Auto Centers.The Coleman Auto Group of East Windsor, New Jersey, is the first dealership and is expected to open a Sears auto center in March 2010.
Financial trouble
The company has faced consistent quarters of decline since the merger of Sears, Roebuck, and Co. and Kmart Corp. in 2005. Since 2005, the first year of results for the merged company, its income plunged 84 percent from $858 million, or $6.17 per diluted share. Eddie Lampert has held the title of chairman of Sears Holdings over time period of declines. The first quarter of 2011 did not appear any better, with the company posting a net loss of $170 million, or $1.58 a share, for the quarter ended April 30. Some industry analysts feel the heart of the problem is caused by Eddie Lampert's "penny-pinching" cost-savings by stifling investment into stores. Instead the company has been buying back stock and increasing its presence online.
Chains
- Kmart is a chain of discount department 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 usually free-standing or located in strip mallA strip mall is an open-area shopping center where the stores are arranged in a row, with a sidewalk in front. Strip malls are typically developed as a unit and have large parking lots in front...
s. The stores carry 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...
, music, movies, 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...
, 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....
, 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...
, clothing, toys, jewelry, 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...
, health and beauty products, home decor and a limited selection of food items. Many stores also have a garden center, a pharmacyPharmacy is the health profession that links the health sciences with the chemical sciences and it is charged with ensuring the safe and effective use of pharmaceutical drugs...
, and usually have a K-Cafe or Little Caesars Pizza station. Kmart stores range from 80,000 to 110,000 square feet (7,400 to 10,200 m²). Many of these stores were converted into Super Kmart, and most of them were converted into Big Kmart.
- Big Kmart is a chain of discount department 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 carry everything a regular Kmart carries, but with an emphasis on home decor, children's clothing, and more food items. Big Kmart stores range from 84,000 to 120,000 square feet (7,800 to 11,100 m²). Big Kmart stores also feature a garden center, a pharmacy, a branch from a local bank, and usually have a K-Cafe or Little Caesars Pizza station. A small number of Big Kmarts are accompanied by a Kmart Express gas station.
- Super Kmart 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 that carry everything a regular Kmart carries, but has a full line of groceries (including meat and poultry, baked goods, delicatessenDelicatessen is a term meaning "delicacies" or "fine foods". The word entered English via German,with the old German spelling , plural of Delikatesse "delicacy", ultimately from Latin delicatus....
, frozen foods, dairy products, garden produce and fresh seafood). Super Kmart stores range from 140,000 to 190,000 square feet (13,000 to 17,700 m²). These stores are also known as Super Kmart Center or simply Super K. Super Kmart stores also feature a garden center, a video rental store, a branch from a local bank, a pharmacy, and usually have a K-Cafe or Little Caesars Pizza station. Several also include Kmart Express gas stations. Only twenty-nine Super Kmarts are still open, with most having been closed during the two rounds of closures during 2002 and 2003 and further reductions came in 2008, as twenty Super Kmart stores were converted to the Big Kmart format, with the grocery sections being completely removed. Since the merger, many Super Kmart stores were converted as there was less of an emphasis on this concept. Most of the surviving Super Kmarts are in regions without a strong Wal-Mart presence, including OhioOhio is a Midwestern state in the United States. The 34th largest state by area in the U.S.,it is the 7th‑most populous with over 11.5 million residents, containing several major American cities and seven metropolitan areas with populations of 500,000 or more.The state's capital is Columbus...
and Michigan, although one survives in Moon Township, PennsylvaniaThe Commonwealth of Pennsylvania is a U.S. state that is located in the Northeastern and Mid-Atlantic regions of the United States. The state borders Delaware and Maryland to the south, West Virginia to the southwest, Ohio to the west, New York and Ontario, Canada, to the north, and New Jersey to...
just outside of Pittsburgh, which does have a strong Wal-Mart presence. Another location in Queensbury, New YorkQueensbury is a town in and the county seat of Warren County, New York, United States. The town is located in the southeastern part of the county. The population was 25,441 at the 2000 census. The town is named in honor of Queen Charlotte, the consort of George III of Great Britain and Ireland. It...
is close to two Walmart Supercenters. A typical Super Kmart sells around $30 million of merchandise during one fiscal year. Like many Wal-Mart Supercenter locations, Super Kmart locations are generally open twenty-four hours a day.
- mygofer: A on-line and brick-and-mortar retail concept launched in spring of 2009 proposing to make shopping better and life easier by offering its customers the benefits of online shopping, paired with the convenience of a storefront.
- Lands' End aside from carrying the Lands' End clothing line at 222 "store within a store" departments inside Sears domestic broadline locations, Sears Holdings also operates fourteen Lands' End stores that exclusively carry Lands' End clothing. These stores are located in outlet malls and regular malls.
- Orchard Supply Hardware, known as Orchard Supply, Orchard or OSH for short, is a chain of free-standing 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 home repair, hardware products and lawn and garden supplies. 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...
stores are 40,000 square feet (4,000 m²). There are currently 89 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 revealed intentions in May 2005 to spin the chain off, and in October 2005 Ares ManagementAres Management LLC, an SEC registered investment adviser, is a leading investment firm focused on alternative credit-based strategies, including private equity, private debt, and capital markets activities...
agreed to purchase 19.9 percent of OSH with a three-year option to buy a further 30.2 percent and take control of the chain. 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.
- Sears Full-Line is a chain of mid-range department stores that are located in shopping malls; they carry clothing, jewelry, home appliance
Home 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....
, 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 repair, 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...
, electronics and school supplies. Sears stores are usually multi-level. There are 870 full-size Sears stores in the U.S. and 188 in Canada, with the largest store by total floor space being 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...
location in Canada, at 817000 square feet (75,901.8 m²).
- Sears Grand is a chain of free-standing department stores located away from shopping malls. The stores carry everything a regular Sears carries, plus health and beauty products, toys, baby care, cleaning supplies, home décor, pet food
Pet 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, books, magazines, music, films, and an edited assortment of groceries. 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 JordanWest 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...
, UtahUtah is a state in the Western United States. It was the 45th state to join the Union, on January 4, 1896. Approximately 80% of Utah's 2,763,885 people live along the Wasatch Front, centering on Salt Lake City. This leaves vast expanses of the state nearly uninhabited, making the population the...
in 2003. At 225000 square feet (20,903.2 m²), the Jordan Landing store is currently the largest in the chain.
- Sears Appliance & Hardware is a chain of hardware stores that carry the whole line of Sears hardware and are usually free-standing or located in strip malls. Typically these stores are about 25000 square feet (2,322.6 m²). In 2005 and 2006, some of these locations closed due to their proximity to, and therefore competition with, nearby Sears department stores.
- Sears Home Services is a division of Sears that specializes in appliance repair, lawn and garden services, HVAC
HVAC refers to technology of indoor or automotive environmental comfort. HVAC system design is a major subdiscipline of mechanical engineering, based on the principles of thermodynamics, fluid mechanics, and heat transfer...
service, as well as most in home services. Sears Home Services can also do repair on small appliances in-store.
- Sears Hometown Store (formerly Sears Dealer Store) is a chain of smaller stores that are operated as a store where the proprietor owns or leases the real estate while Sears Holdings handles the marketing and owns the inventory, and there are no franchising fees levied against the store proprietor. These stores are usually located in smaller markets that do not support full-sized Sears. They are signed as Sears and are usually free-standing or located in strip malls. They primarily concentrate on hardware, appliances and lawn-and-garden supplies. This was originally intended as a replacement to the now-discontinued Sears Catalog. There are 180 dealer stores in Canada.
- 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 stores located in various retail locations across the U.S. The stores carry new, one-of-a-kind, out of carton, discontinued, used, scratched and dented merchandise at twenty to sixty percent off regular retail price. While a wide variety of products are available, appliances make up a large majority of available merchandise. There are eleven outlet stores across Canada (with one as a liquidation center).
- Sears Parts & Repair Center is a chain of service centers that typically sell parts for lawn-and-garden equipment and appliances and also feature a carry-in point for customers to bring merchandise in that needs to be repaired either in- or out-of- warranty. Typically labeled Sears Service Center or Sears Home Central, two names that also refer to the Parts and Repair Centers. Sears had previously closed some of these down as more of its service and replacement part business became home-based.
- The Great Indoors is a chain of free-standing home-décor stores that carry high-end appliances
Home 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...
, bedding, and kitchen-and-bath fixtures. The Great Indoors also offers custom kitchen and bathroom design services. The Great Indoors stores are 130,000 square feet (12,000 m²).
- A&E Factory Service 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.
- Sears Home improvement showrooms operates in sixty-seven locations across Canada.
Sears Travel offices operates in many Sears main-line stores in the U.S. and 112 in Canada.
Former chains
- Sears Essentials is a chain of department stores that are located away from shopping malls (free-standing); carries everything a regular Sears carries, plus health and beauty products, toys, baby care, cleaning supplies, home décor, pet food, cards and party supplies, books, magazines, music, films, and a limited amount of food items. Sears Essentials stores are between 70,000 to 100,000 square feet (6,500 to 9,300 m²). These stores are essentially Sears-Kmart hybrid stores. Many Sears Essentials feature a Little Caesars Pizza Station and a pharmacy. Sears Essentials currently has a pilot program wherein some stores have had the Kmart merchandise (food, health/beauty, stationery, cleaning supplies) removed, Sears merchandise assortment expanded, and the "Essentials" part of the name removed and replaced with the "Grand" name.
Brands
- Apostrophe – branded misses clothing and jewelry
- BobbyO – Bobby Orlando
Robert Philip Orlando , also known as Bobby Orlando, is an American record producer, dance music artist, musician and songwriter.- Early life :...
branded teen clothing
- Canyon River Blues – branded boys' and girls' clothing
- 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...
– branded International Gemological InstituteInternational Gemological Institute is a diamond, colored stone and jewelry certification organization. IGI is headquartered in Antwerp and has offices in New York City, Hong Kong, Mumbai, Bangkok, Tokyo, Dubai, Tel Aviv, Toronto, Los Angeles, Kolkata, New Delhi, Surat, Chennai, Thrissur,...
-certified diamond fine jewelry
- Companion
Companion may refer to:* A friend or acquaintance you associate yourself with* Companion , a nurse assistant or similar professional who assists a patient one-on-one* Companion , an architectural feature of ships...
– tools (economy tools, non-lifetime warranty)
- Covington – branded men's and misses clothing and footwear
- 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 and men's clothing
- Craftsman Home-N-Shop – wet/dry vacuums
- DieHard – auto, marine, tractor batteries and work boots
- Dunlap
-Places:United States* Dunlap, California, an unincorporated town in Fresno County* Dunlap, Mendocino County, California, a former settlement* Dunlap, Illinois, a village* Dunlap, Indiana, a census-designated place* Dunlap, Iowa, a city* Dunlap, Kansas, a city...
– discontinued economy-priced tool brand
- Easy Living – interior paint, primers, and accessories
- Evolv
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 (economy tools, limited warranty)
- Galaxy – branded discount appliances
- Hydro-Glass – jet pumps
- Kenmore Appliances
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 (1955–1991) – tools with super-hard chrome plating
- J.C. Higgins (1907–964) – discontinued sporting-goods brand
- Jaclyn Smith
Jacquelyn Ellen "Jaclyn" Smith is an American actress and businesswoman. She is best-known for the role of Kelly Garrett in the television series Charlie's Angels, and was the only original female lead to remain with the series for its complete run...
– branded clothing and home decor
- Joe Boxer
Joe Boxer is a brand of underwear and related apparel founded by Nicholas Graham. The brand pioneered the concept of novelty hanging underwear. Joe Boxer is a wholly owned subsidiary of Iconix Brand Group...
– branded underwear and home decor
- 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...
– branded upscale clothing and home decor
- Latina Life – branded misses clothing and jewelry
- LXI – discontinued electronics brand
- MAPP – gas torch kits
- Muzzler – car mufflers
- Parallel – branded misses clothing
- PENSKE – automotive testing equipment, automotive filters and parts
- Personal Identity – branded juniors clothing
- Promise Your Love – branded diamond fashion, diamond bridal, and lab created pink sapphire and ruby fine jewelry
- Protron – branded discount electronics
- Route 66 – branded clothing
- Sears – Sears-randed tools and automotive parts
- Sears Tires – includes The Road Handler, Gaurdsman, Dynaglass, DynaPly, Silent Guard, Sears Crusader, Dyna-Sport, Superwide
- Sesame Street
Sesame Street has undergone significant changes in its history. According to writer Michael Davis, by the mid-1970s the show had become "an American institution". The cast and crew expanded during this time, including the hiring of women in the crew and additional minorities in the cast. The...
–branded clothing
- Simply Love – branded diamond solitaire fine jewelry
- The SteadyRider – automotive shock absorbers
- Structure – branded young men's clothing (label originally part of what is now the Express chain, purchased by Sears in 2003)
- Ted Williams Brand (1961–1970s) – sporting and recreation 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...
– branded clothing
- Two Hearts – branded maternity
Maternity or motherhood is the social and legal acknowledgment of the parental relationship between a mother and her child.It is specially related with the protection of the baby and the mother within and after the childbirth.-See also:...
clothing
- Ty Pennington
Tygert Bruton "Ty" Pennington is an American television host, model, philanthropist and carpenter. He is most notable for being the host of Extreme Makeover: Home Edition which currently airs on ABC in the US and Ty's Great British Adventure, which airs on UKTV home in the UK and TV LAND...
style // sTYle – home decor
- Weatherbeater – exterior paint, primers, and accesssories
- Winnie the Pooh
Winnie the Pooh is an American Walt Disney Company franchise, based on animated fictional characters who have been featured as part of the Disney character line-up. The Winnie the Pooh franchise is based on A. A...
– branded children's clothing
Major sponsorships
The company sponsors, through the Sears Auto Centers, the Formula Drift Darren McNamara Sears/Falken Saturn Sky drift car.
It sponsored the
NASCARThe National Association for Stock Car Auto Racing is a family-owned and -operated business venture that sanctions and governs multiple auto racing sports events. It was founded by Bill France Sr. in 1947–48. As of 2009, the CEO for the company is Brian France, grandson of the late Bill France Sr...
Truck Series, using the Craftsman brand as the title sponsor, from the series' inception in the 1995 NASCAR SuperTruck Series presented by Craftsman to the
2008 seasonThe 2008 NASCAR Craftsman Truck Series began on February 15, 2008 at Daytona International Speedway with the Chevy Silverado HD 250. The season concluded on November 14 of that year at Homestead-Miami Speedway with the Ford 200. Johnny Benson of Bill Davis Racing was crowned champion. The season...
, when the agreement ended. Craftsman tools remain the official tools of NASCAR.
The company sponsored the television series
Extreme Makeover: Home EditionExtreme Makeover: Home Edition is a reality television series providing home renovations for less fortunate families and community schools etc...
.
Is sponsors and currently has naming rights to the
Sears CentreThe Sears Centre is an 11,000-seat multi-purpose family entertainment, cultural and sports center in Hoffman Estates, Illinois, a northwest suburb, 25 miles from Chicago. The arena has 43 luxury suites on two separate levels...
, an 11,000-seat multi-purpose family entertainment, cultural and sports center, constructed in 2006 and location in Hoffman Estates..
The company also sponsored the PBS television series "
Mister Rogers' NeighborhoodMister Rogers' Neighborhood, also known as Mister Rogers, is an American children's television series that was created and hosted by Fred Rogers. The series is aimed primarily at preschool ages, 2-5, but has been stated by Public Broadcasting Service as "appropriate for all ages"...
", under the name The Sears-Roebuck Foundation from 1968 until 1991.
It sponsored the #10 Gillett Evernham Motorsports car of Scott Riggs for the September 2, 2007, running of the Sharp AQUOS 500 at
California SpeedwayAuto Club Speedway is a two-mile , low-banked, D-shaped oval superspeedway in Fontana, California which has hosted NASCAR racing annually since 1997. The track was also used for open wheel racing events until 2005. The racetrack is located near the former locations of Ontario Motor Speedway and...
through its Sears Auto Center branch. However, Riggs failed to qualify for the event.
Diversity
- The company received a 100% rating on the 2009 Corporate Equality Index
The Corporate Equality Index is a report published by the Human Rights Campaign Foundation as a tool to rate American businesses on their treatment of gay, lesbian, bisexual and transgender employees, consumers and investors. Its primary source of data are surveys but researchers cross-check...
published by the Human Rights CampaignThe Human Rights Campaign is the United States' largest LGBT advocacy group and lobbying organization; according to the HRC, it has more than one million members and supporters...
, for the fourth year in a row.
- It was named one of the 100 Best Companies for Working Mothers in 2004 by Working Mothers magazine.
- The company was named as one of the Best Places to Work for LGBT Equality published by the Human Rights Campaign
The Human Rights Campaign is the United States' largest LGBT advocacy group and lobbying organization; according to the HRC, it has more than one million members and supporters...
, for 2009.
Controversy
It is the target of an
Industrial Workers of the WorldThe Industrial Workers of the World is an international union. At its peak in 1923, the organization claimed some 100,000 members in good standing, and could marshal the support of perhaps 300,000 workers. Its membership declined dramatically after a 1924 split brought on by internal conflict...
campaign to get the company to stop advertising through
HavasHavas is the second largest advertising group in France and is a "Global advertising and communications services group" and the sixth-largest global advertising and communications group worldwide, operating on the communications consulting market through three main operational divisions:*Euro RSCG...
' MPG. The union has been protesting outside of Kmart stores. Sears Holding has not commented publicly about the matter.
Further reading
- Katz, Donald R. (1987) The Big Store – Inside the Crisis and Revolution at Sears Viking Press
Viking Press is an American publishing company owned by the Penguin Group, which has owned the company since 1975. It was founded in New York City on March 1, 1925, by Harold K. Guinzburg and George S. Oppenheim...
(New York CityNew York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
)
- Stevenson, Katherin Cole, and Jandl, H. Ward, (1995) Houses By Mail: A Guide to Houses from Sears, Roebuck and Company John Wiley & Sons; Hoboken, New Jersey
Hoboken is a city in Hudson County, New Jersey, United States. As of the 2010 United States Census, the city's population was 50,005. The city is part of the New York metropolitan area and contains Hoboken Terminal, a major transportation hub for the region...
- Turner, Marcia L. (2003) Kmart's Ten Deadly Sins – How Incompetence Tainted an American Icon John Wiley & Sons
John Wiley & Sons, Inc., also referred to as Wiley, is a global publishing company that specializes in academic publishing and markets its products to professionals and consumers, students and instructors in higher education, and researchers and practitioners in scientific, technical, medical, and...
; Hoboken, New Jersey
See also
- Kmart Australia
Kmart Australia Limited is a discount department store chain owned by Wesfarmers. It operates 172 stores in Australia and 15 in New Zealand, with its head office located in Mulgrave, Victoria. Wesfarmers uses the Kmart name under licence from Sears Holdings Corporation.-History:Kmart Australia...
- Sears Outlet
- 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 Roebuck de México is a department store chain located in Mexico, operating more than 55 stores all over Mexico. Sears México is operated by Grupo Carso...
- In the Matter of Sears Holdings Management Corporation
In the middle of 2009 the Federal Trade Commission filed a complaint against Sears Holdings Management Corporation for unfair or deceptive acts or practices affecting commerce. SHMC operates the sears.com and kmart.com retail websites for Sears Holdings Corporation...
External links