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Sears, Roebuck and Co., commonly known as Sears (/ s ɪər z / SEERZ), [6] is an American chain of department stores founded in 1892 by Richard Warren Sears and Alvah Curtis Roebuck and reincorporated in 1906 by Richard Sears and Julius Rosenwald, with what began as a mail-order catalog company migrating to opening retail locations in 1925, the first in Chicago. [7]
On January 14, 2018, their Canadian unit, Sears Canada, ceased operations with all stores closed. On March 15, 2018, Sears Holdings announced a small profit was made in quarter 4 of 2017. However, investors are claiming that this is due to tax refunds and that sales are still falling for both Kmart and Sears.
The once-dominant American retailer hopes to reemerge with some part of its business intact.
A Sears brand-awareness survey determined that by 1973, the Toughskins had become better known by mothers than the Levis brand, already a century old at that time. [1] Toughskins had reinforced knees for longer wear. They came in slim, regular, and husky sizes and were a blend of Dacron Type 59 polyester, DuPont 420 nylon, and cotton.
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For example, Sears Holdings had more than 3,500 stores and 355,000 employees in 2006. [15] By the end of 2016, Sears operated 1,430 stores. [16] In October 2018, Sears filed for bankruptcy and announced it would close an additional 142 of its 687 stores. [17] At the time of filing, Sears had 68,000 employees. [17]
Sears CEO Eddie Lampert has blamed the company's decline on the media, shifts in consumer spending, and the rise of e-commerce, among other reasons. Sears has filed for Chapter 11 bankruptcy Skip ...
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