In its heyday, it was more than just the largest U.S. employer or the country's retailer. It actually reshaped the nation, transforming the average citizen's lifestyle.
Of course, the company is struggling now. Sears Holdings (SHLD), the company that owns both Sears and Kmart, warned investors late Tuesday that it can no longer promise it will remain in business. It is not in bankruptcy, but it has posted losses of $10.4 billion since 2010, and debt has soared while the value of its stock has tumbled.
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8 comments:
Very sad end to what was once a great company and great retailer! They can't totally blame online retailers because the economy in general really isn't doing well and hasn't since the great recession started in 2008. Obama care it think was the nail in the coffin for most retailers. We are over spent and tapped out. Very little disposable income. It you are a high paid government employee like a teacher or administrator, times are great for them!!!!
Don't know when it changed, but years ago most households depended on the service and products of SEARS. You go to the automotive department and had your guy take care of the vehicle. Same as the other departments, a certain salesperson you wanted to deal with. Change is inevitable, sad though.
11:21 The economy is doing great in most places. You need to get off the shore once in a while.
It's sad irony that Sears & Roebuck started as a mail-order company is failing due to the mail-order (Amazon) companies.
They were a pioneer- even as late as the 90's with the online Prodigy service and companies like Allstate and Dean Witter Reynolds (socks and stocks).
Maybe their board was too stubborn and stuck to the brick and mortar side of their business. If they had gone back to their roots, maybe they would have been successful.
I love Sears and Kmart. Convenient, and good selections of stuff.
11:21, I do get off the shore from time to time and I read and listen to Financial reports from economists. The country over all really isn't doing that well. There are areas of this state that are doing better than others like Montgomery County. Those areas are tied to the federal government. Areas where there are government contractual work are doing better than others, but Maryland as a whole, as well as other states are broke. There is more going out than is coming in. Hogan himself has been closing offices and moving people around in different state agency's to save money. You are right however, there our other areas outside of the eastern shore and are doing better, but the nation as a whole isn't.
Remember Sears Steel Belted radial Tires - Revolutionary.
I'm old and I remember when Sears was located on S. Sby Blvd., next to the Colonial store, where Advance Auto currently is. You could shop by phone, out of the catalog back then, and pick up your order at the store.
DC is the only economy booming and can't imagine why.
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