Sears, Roebuck & Co.

Don’t believe the rumors. Kmart is not going out of business.   That’s according to Eddie Lampert, the beleaguered  CEO of Kmart parent company Sears Holdings Corp.  

In its new study of retail bankruptcies, Fitch Ratings identified seven retailers as being “at risk” for filing bankruptcy in the next year to 24 months.  

Sears is hitching a ride with Uber — and inviting its loyal shoppers along.   A new program, called Rider Rewards, is designed to award Sears shoppers for using Uber’s ride service. Customers that link their Sears Shop Your Way loyalty plan to their Uber account will earn $2 in loyalty points for every Uber trip they take. Besides points, the loyalty program also tailors deals to members. Drivers can also take advantage of the program, and earn up to $1,000 in certain markets.   

As it turns out, high-fashion and Lands’ End weren’t perfect together.      Less than two years after she took the reins of Lands’ End, Federica Marchionni has stepped down as CEO. Two current Lands’ End executives—James Gooch, executive VP, COO and CFO, and Joseph Boitano, executive VP and chief merchandising and design officer—were named as interim co-CEOs, effective September 26, while the company searches for a permanent replacement.  

Kmart continues to shrink.   The chain is closing another 64 stores, Marketwatch.com reported.   The latest round of closings are in addition to a decision by Kmart parent Sears Holdings Corp. last April to close 68 Kmart stores this year, the report said.   Kmart operated 941 stores as of Jan. 30, meaning it has now announced plans to close about 14% of its locations.

Sears Holding Corp. is hoping to capitalize on the upswing in home improvement projects.   The retailer announced it is bringing back paint and related accessories to its stores under three different brands: Craftsman, Weatherbeater and Easy Living. It’s the first time the Craftsman brand will be extended to the paint category.        Sears will test the new offerings in 23 stores nationwide before a chainwide rollout.   

Photo: Steelblue   There’s a reason that dining and entertainment destinations are the key success components at retail centers these days: They are e-commerce-proof, the two marketplace options that continue to draw traffic and post upward-trending numbers. Spending at restaurants has grown faster than any other retail category since the recession, according to the Commerce Department, pushing dining dollars past grocery dollars for the first time.  

On Thursday, Aug. 25, Sears Holdings Corp., on the heels of another dismal quarter, announced it had accepted a capital infusion in the way of a $300 million loan by CEO Eddie Lampert’s hedge fund.

Sears Holdings Corp. swung to a loss amid declining sales in the second quarter, and chairman and CEO Eddie Lampert stepped in with more financing for his embattled company.   Sears said it had accepted a $300 million debt-financing offer from Lampert’s hedge fund, ESL Investments Inc. The loan is secured by a junior lien against Sears's inventory, receivables and other working capital.  

Sears is piloting a concept that could breathe new life into its apparel offerings.