National retail chain with Sears and Kmart stores.
3333 Beverly Road
Hoffman Estates, IL 60179
CEO: Eddie Lampert
Stock Symbol: SHLD
Sears Holdings is one of the nation's largest retailers formed in 2005 with the merger of Sears Roebuck & Co. and Kmart. The company operates over 2,400 stores nationwide.
Sears Holdings is the leading home appliance retailer in North America and is a retail sales leader in tools, lawn and garden, home electronics, and automotive repair and maintenance. Key brands include Kenmore, Craftsman and DieHard, and a broad apparel offering, including such well-known labels as Lands' End, Kardashian Collection, Jaclyn Smith, Apostrophe and Covington brands.
Sears has 896 full-line stores in the U.S., Canada and Puerto Rico. Sears also has 381 specialty stores in the U.S. and Canada.
Lands' End, Inc. is a leading direct merchant of traditionally styled casual clothing, accessories and footwear for men, women and children, as well as home products and soft luggage. Lands' End has 14 retail stores, averaging 8,600 square feet, which offer Lands' End merchandise primarily from catalog and Internet channel overstocks. In addition, Lands' End has 290 "store within a store" departments primarily inside Sears Domestic broadline locations. The company said it plans to spin off Land's End in 2014.
Kmart has 1,152 discount stores in 49 states, Guam, Puerto Rico and U.S. Virgin Islands. The average Kmart store carries between 60,000 and 80,000 products while the superstores have 100,000-150,000 products.
Sears is the largest provider of home repair services with more than 11 million service calls made annually.
Eddie Lampert is the Chairman of Sears Holdings and is well-known as a hedge fund manager and investor. The company has struggled with declining sales and losses over the past few years.
The company has closed dozens of Sears and K-Mart stores over the past several years with more likely to come.
In fiscal 2013, Sears Holdings reported revenues of $36.2 billion, down from $39.8 billion, and net loss of $1.4 billion.
For the year, domestic comparable store sales declined 3.8%, comprised of decreases of 3.6% at Kmart and 4.1% at Sears Domestic. The decline at Kmart reflects declines in a majority of categories, most notably grocery & household, consumer electronics, drugstore and toys. The decline at Sears Domestic reflects decreases in most categories including the home appliances, consumer electronics, tools and lawn & garden categories, as well as declines at Sears Auto Centers, partially offset by increases in the home and footwear categories.
"During 2013, we made progress in our continuing transformation into a member-centric retailer leveraging Shop Your Way and integrated retail, which we believe will position us for enhanced growth and profitability to create long-term shareholder value," said Edward S. Lampert, Sears Holdings' Chairman and Chief Executive Officer. "Our full year results are impacted during this transformation as we continue supporting traditional promotional programs and marketing expenditures while we invest in our Shop Your Way program and integrated retail strategy. We have been investing hundreds of millions of dollars annually in our transformation and will continue to invest in the future of the Company."
Mr. Lampert continued, "Our focus on serving our members through an integrated platform that is most convenient for them - whether in store, at home, or on the go - is resulting in improved member engagement, which is a key component of our member strategy. For the full year 2013, sales derived from Shop Your Way members grew to 69% of total Sears Full-line and Kmart sales, up from 59% last year. Our online and multi-channel businesses grew 10% over the prior full year. The investments we made throughout 2013 are enabling us to learn more about how our members want to shop so that we can develop deeper relationships with them and provide them with access to the widest possible assortment of products and services. Looking ahead, we will continue to enhance our financial flexibility to support and drive our transformation. While transformations of this size are challenging, and our financial results do not currently reflect our progress in member engagement, we believe the changes we are making through Shop Your Way and integrated retail will benefit us in the changing retail landscape."
In 1886, Richard Sears began the R.W. Sears Watch Company in Minneapolis. In 1887, Sears settles in the company's first Chicago location and hires a watchmaker named Alvah C. Roebuck. The company formed a catalog in 1888 featuring watches and jewelry.
In 1893, the company's name becomes Sears, Roebuck and Co. The company would launch its first general catalog in 1896 which would allow millions of Americans to shop from home and receive goods via mail.
The first Sears Roebuck retail store opened in 1925 in a catalog center on Chicago's west side. Sears would launch the Kenmore appliance and Craftsman hardware brands in 1927.
In 1973, Sears would move its headquarters to Sears Tower in Chicago, which was then the world's tallest building.
In 1899, Sebastian S. Krege founded the S. S. Kredge stores. The company would expand and by 1962, opened its first Kmart discount store in the Detroit area. The S.S. Kredge company changed its name to Kmart Corp. in 1977.
In 2002, Kmart filed for bankruptcy and closed 600 stores. It emerged from Chapter 11 a year later under the leadership of Edward Lampert, a hedge fund manager. Lampert led the merger with Sears in 2004 and is now the company's chairman.
The spunoff Sears Hometown and Outlet Stores, Inc. in October 2012, raising $446.5 million for Sears Holdings. It also completed a partial spin-off of Sears Canada and now owns 51%.
The following are offered to employees of both Kmart and Sears but may vary depending on position
- Medical coverage
- Dental plan
- Legal plan
- 401(k) savings plan
- Flexible Spending Account
- Associate discount
- Tuition reimbursement
- Short-term and Long-term Disability Insurance
- Vacation and holidays
The Sears headquarters campus in Hoffman Park, IL offers the following:
· Fitness Center
· Recreation Leagues
· Childcare Center
· Associate Referral Program
· Hair Salon
· Auto Center
· Dry Cleaners
· Optical Center
· Health Center
· Sample Store
· Sears Center Box Office
· Business Casual Dress Code
Updated March 1, 2014