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Investor with big stakes plans to drive turnaround
Tribune chief business correspondentWhen Alan Lacy took charge at Sears, Roebuck and Co. four years ago, he called his top executives to a meeting to talk strategy. A series of slides laid out Sears' plight--falling sales, a drooping stock price, ineffective marketing and high costs....Tags: Companies and Corporations, Corporate Officers, David Greising, GEICO, Washington Post Co.
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Apparel mistakes look bad for Sears
Tribune staff reporterIn its first full quarter as a pure retailer, Sears, Roebuck and Co. stumbled, posting a loss and conceding that falling clothing sales were largely self-inflicted wounds. The Hoffman Estates-based retailer's results were in line with guidance it gave to...Tags: Credit and Debt, Clothing, Clothing, Accessories, and Shoes, Inventories, Morgan Stanley Dean Witter & Company
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Cut back, Sears tells workers
Tribune staff reporterCiting disappointing sales, Sears, Roebuck and Co. has instituted a hiring freeze and is cracking down on discretionary spending to reduce costs. The nation's largest department store chain asked workers in a May 14 memo obtained by the Tribune to...Tags: Companies and Corporations, Government, Kohl's Illinois, Inc., Best Buy Co., Inc., Target Brands, Inc.
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Sears' stumbles a surprise
Tribune staff reporterSears, Roebuck and Co. reported a "disappointing" $61 million loss for the third quarter and warned its year-end numbers would fall short of earlier forecasts--surprise announcements that drove the retailer's stock price down almost 9 percent on Thursday....Tags: Corporate Officers, Management Change, Target Brands, Inc., Finance, Employers
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Kmart deals for Sears
Tribune staff reportersIn a stunning move that could forever alter one of Chicago's most enduring business icons, Kmart Holding Corp. pounced on Sears, Roebuck and Co. today in a $11 billion merger. The new Sears Holdings Corp. will become the nation's third-largest retailer...Tags: Companies and Corporations, Restructuring and Recapitalization, Corporate Officers, Martha Stewart, Stock Market
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REIT's move may have spurred Lampert to act
Tribune staff reporterVornado Realty Trust's unexpected disclosure that it had acquired a significant stake in Sears, Roebuck and Co. may have kick-started investor Edward Lampert's plan to merge the company with his Kmart Holding Corp. "Vornado's purchase stimulated activity...Tags: Companies and Corporations, Restructuring and Recapitalization, New York, Mutual Funds, Real Estate Buyers
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Kmart chief's moves may mean merger with Sears
Tribune staff reporterAn investor tied to both Sears, Roebuck and Co. and rival Kmart Holding Corp. may move to significantly increase his stake in Sears and possibly propose to merge the two struggling companies, a key source close to the negotiations said late Tuesday. An...Tags: Companies and Corporations, Homes, Bankruptcy, Target Brands, Inc., Real Estate Sellers
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Bonus bargain for Sears chief
Tribune staff reporterBy most measures, Sears Chief Executive Alan Lacy got a crummy report card last year. Sales at Sears, Roebuck and Co. stores fell every month in 2002, sometimes by double digits. The company's lucrative credit card business stumbled again, and Sears'...Tags: Companies and Corporations, Earnings, Wages and Pensions, Science and Technology, New Products
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New variation on Sears draws big box of opinions
Tribune staff reporterDespite ongoing troubles at its existing stores, Sears, Roebuck and Co. is mounting an expansion to better compete against the world's biggest retailer and other off-mall giants. Sears said in June it would spend as much as $820 million to buy and...Tags: JPMorgan Chase & Co., Moody's Corporation, Animal Crackers, Utah, Homes
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Sears trims staff that oversees network of independent stores
As Sears, Roebuck and Co. slims down its corporate structure to reduce costs, not even its growing businesses are immune from the numbers-crunching scrutiny. The Hoffman Estates retailer, which has 792 independently owned stores in small towns across the...Tags: Companies and Corporations
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Exec lifts Kmart's stock into blue yonder
Tribune staff reporterJune was a wheeling-and-dealing kind of month for Kmart Holding Corp. Chairman Edward Lampert. In two separate deals, his discount chain sold 78 stores to Sears, Roebuck and Co. and Home Depot Inc. for nearly $1 billion. Not a bad start to the summer...Tags: Companies and Corporations, Stock Market, Homes, The Washington Post, Business
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Sears Grand plan now to expand
Tribune staff reporterSears, Roebuck and Co., which until now has announced plans for only five freestanding Sears Grand discount stores, now believes its new off-mall format has the potential for up to 500 locations, an executive at the Hoffman Estates-based department-...Tags: Wal-Mart Stores, Inc., Career and Workplace, Retirement, The Home Depot
Nov 18, 2004
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Apr 22, 2004
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May 18, 2004
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Oct 22, 2004
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Nov 17, 2004
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Nov 18, 2004
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Nov 17, 2004
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Mar 21, 2003
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Aug 15, 2004
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Jul 20, 2004
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Jul 11, 2004
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May 13, 2004
|Story| Chicago Tribune
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