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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.
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]
The once-dominant American retailer hopes to reemerge with some part of its business intact.
The retailer exited bankruptcy with 223 Sears and 202 Kmart stores nationwide. But four years later, most of those stores have closed. Sears shoppers I spoke with shared the store employees ...
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It filed for bankruptcy in 1996 and shuttered stores, and another bankruptcy in 1999 put the company out of business. [55] Cygnet Shops – women's fashion store that closed in 1975; DEB – closed its stores in 2015, and returned later that year as an online-only retailer selling plus-size clothing
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