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Sears Holdings

National retail chain with Sears and Kmart stores.

Headquarters:
3333 Beverly Road
Hoffman Estates, IL 60179
Employees: 274,000
CEO: Eddie Lampert
Stock Symbol: SHLD

Website: http://www.searsholdings.com

Career Site

Sears Holdings is one of the nation's largest retailers. It was formed in 2005 with the merger of Sears Roebuck & Co. and Kmart. The company operates over 1,830 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 over 800 full-line stores in the U.S., Canada and Puerto Rico and more than 300 specialty stores in the U.S. and Canada.

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.

The company spun off Land's End in 2014.

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 hundreds of stores over the last several years including 235 this year with more likely to come in 2015.

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.

History

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%.

Benefits

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
· Pharmacy
· Dry Cleaners
· Bank
· Optical Center
· Health Center
· Sample Store
· Cafeteria
· Deli
· Sears Center Box Office
· Business Casual Dress Code

Updated December 3, 2014