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Sears, Roebuck & Co.

  • Report: Sears lines up more credit from its CEO

    Sears Holdings Corp. has received another lifeline courtesy of CEO Eddie Lampert.    The struggling retailer said it has received loan, called a secured letter of credit, for $200 million, with an option to expand the amount to as much as $500 million with the consent of lenders.  

  • Sears announces new round of store closings

    Sears Holdings’ store portfolio continues to shrink.   The struggling retailer told employees on Tuesday that it will close 30 Sears and Kmart stores in early 2017, reported Business Insider.  

  • Interim CEO of Limited Stores joins fast-growing specialty retailer

    Altar'd State, a fast-growing women's fashion brand with more than 70 stores, has added to its senior leadership team with two retail veterans.   John Buell has joined Altar'd State as senior VP, CFO. Buell is a 13-year Limited Stores veteran, having most recently served as Interim CEO. Prior to joining Limited, Buell spent 15 years at Sears, Roebuck, and Co.   

  • Commentary: Sears like Titanic, ‘looks set to sink’

    (Ed. note: Neil Saunders, CEO of Conlumino, comments on Sears Holdings’ third-quarter results.)   In the movie Titanic there is a line where, realizing chaos is about to en-sue, one character helpfully notes “it’s starting to fall apart; we don’t have much time”. Such a sentiment could well be applied to Sears. The analogy with Titanic is also apt; not least because while Sears was once a titan of US retail, it now looks set to sink.  

  • Sears expands its ride with Uber

    Hoping to lessen the hustle and bustle of the holidays, Sears Holdings and Uber are expanding its Rider Rewards program to 23 new markets.   The service, which launched this fall in New York City and Chicago, enabled Sears Shop Your Way loyalty shoppers to link their memberships to their Uber accounts. Every Uber ride they take earns them $2 in loyalty points.  

  • New York & Co. names Sears, Ann Taylor vet to head up marketing and online

    New York & Company appointed Michelle Pearlman as executive VP, e-commerce and chief marketing officer.   Pearlman, a member of the company’s board of directors since 2011, has resigned from her duties as a director to lead the company’s omnichannel strategy. In her new role, she will be responsible for the apparel retailer’s e-commerce business, as well as all marketing and visual aspects of the chain’s integrated omnichannel strategy.  

  • Sears executive jumps ship for party supplies specialty retailer

    Party City has nabbed a 22-year retail veteran to head up its retail operations.   Party City Holdco Inc. announced that Ryan Vero has joined the company as executive VP of PCHI and president of Party City retail group. Vero, who will have full responsibility for all of Party City’s North American retail operations, including some 900 brick-and-mortar stores and e-commerce, recently served as president, grocery and drugstore at Sears Holdings.     

  • Sears sweetens reward for MasterCard 'Shop Your Way' shoppers

    Starting Nov. 1, more than 5 million Sears MasterCard holders whose cards are linked to the Shop Your Way program will earn more Shop Your Way points at Kmart and many of their favorite retailers.   These Sears MasterCard holders will automatically earn more Shop Your Way points on a complimentary basis through December 31, 2017, including:
    • 5% back in points on eligible purchases made at gas stations;
    • 3% back in points on eligible purchases at grocery stores and restaurants

  • Sears responds to claims that it failed to pay toy vendor

    A spat with a toy vendor could make for a difficult holiday shopping season for Sears Holdings.   Due to claims of financial difficulties, reports claim that toy manufacturer Jakks Pacific has halted sales of its Star Wars and Disney Princess toys, among other merchandise, to “a major U.S. customer," which was presumed by some to be Kmart, according to CNBC.  

  • Sears names new finance head; consolidates some finance functions

    Sears Holdings announced that Jason Hollar has been promoted to CFO, effective immediately.     Hollar succeeds Robert A. Schriesheim, who the chain previously announced would be departing to focus on his other business interests and pursue other career opportunities.    Hollar, 43, joined Sears Holdings in October 2014 as senior VP, finance, overseeing the financial planning & analysis function, the business finance relationship with centralized finance, and procurement. 
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