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Sears, Roebuck & Co.

  • Sears, Macerich form $150 million joint venture for nine mall stores

    Hoffman Estates, Ill. – Sears Holding Corp. and Santa Monica, California-based shopping mall operator The Macerich Co. are forming a 50/50 joint venture that will purchase nine Sears stores located in Macerich malls for $150 million. The venture will then lease the stores back to Sears or to other retailers.

    Sears has entered two other similar leaseback joint ventures during April 2015, including deals with General Growth Properties and Simon Property Group. According to Macerich, the stores have average in-line sales of $680 per square foot.

  • IN THE WORKS

    Bauer Hockey: Ice hockey equipment manufacturer Bauer Hockey is throwing its puck in the retail arena. The company will open its first-ever store this summer, in Burlington, Massachusetts, followed by a second location in the fall, in the Minneapolis area.

  • Sears announces remaining stores in Primark deal

    Hoffman Estates, Ill. -- Sears Holdings Corp. announced the two remaining stores involved in its deal with European fashion retailer Primark. (In late 2014, Sears entered into lease agreements with Primark for seven standalone stores in the Northeastern United States.)

    The two remaining stores will be located at Burlington Mall in Burlington, Massachusetts; and South Shore Plaza in Braintree, Massachusetts. Sears will continue to have a significant retail presence in both of these malls, which are owned and operated by Simon Property Group, Inc.

  • Sears Hometown and Outlet CEO out, search on for replacement

    New York -- On the heels of disappointing sales trends, Sears Hometown and Outlet Stores Inc. said that its CEO W. Bruce Johnson will leave the company Aug. 1.

    The company also announced that the board of directors has commenced a search for a new CEO and has retained Heidrick & Struggles, a leading global executive search firm, to assist the Board in identifying and evaluating external and internal candidates.

  • Sears Hometown launches 51-store refresh program with seven Arizona upgrades

    New York -- Sears Holdings Corp. is hoping to spark a turnaround in its struggling Hometown and Outlet Stores division with a 51-store refresh program that starts with seven stores in Arizona.

    The store refresh includes a new product assortment, redesigned merchandising, new fixtures & signage, and comprehensive employee training, among other changes.

  • Sears hires ex-Rouse COO to lead $2.5 billion real estate trust

    Chicago -- Sears Holdings Corp. has tapped former Rouse Properties COO Benjamin Schall to lead new Sears REIT Seritage Growth Properties. The real estate investment trust was formed by Sears to buy some of its stores and generate $2.5 billion in cash.

    Schall’s appointment is effective May 4. He spent three years as COO of publicly traded REIT Rouse, overseeing operations of 35 malls in 21 states.  

  • Sears Hometown and Outlet CEO to leave Aug. 1

    Sears Hometown and Outlet Stores Inc., which had disappointing financial results in its last quarter, said CEO W. Bruce Johnson will leave the company Aug. 1.

    The company also announced that the board of directors has commenced a search for a new CEO and has retained Heidrick & Struggles, a leading global executive search firm, to assist the Board in identifying and evaluating external and internal candidates.

  • Coming Attractions: Six new stores in the works

    New concepts are the lifeblood of retailing. Here are six new stores — three homegrown formats and three imports — that are currently in the works:

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