Sears

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Source: Kmart to Close 64 More Stores by Christmas

Liquidation sales reportedly start Thursday

(Newser) - A person familiar with the matter says Kmart is closing 64 stores by mid-December as the ailing company looks for more ways to generate cash, the AP reports. The liquidation sales start Thursday, says the person, who spoke on condition of anonymity because the decision isn't yet being disclosed... More »

Kmart Payment Data Breached in Latest Hack

Customer credit card information at risk: company

(Newser) - If you've shopped at a Kmart store in recent weeks, it may be time to check your credit card records: The company is the latest retailer to fall victim to hackers, it says. Hackers apparently got into Kmart's systems in early September; some credit and debit card numbers... More »

Feds Investigate Possible Breach at Sears

Chain is 'actively reviewing' its systems, but sees no sign of trouble yet

(Newser) - And now Sears? Bloomberg reports that the Secret Service is investigating a possible security breach at the retailer. There's not much more to the story at this point, and so no way to tell whether this might be something on par with Target's breach . In a statement, Sears... More »

Coming to Sears: Drive-Thru Shopping

Order online, drive to the store, and an employee will bring you your stuff

(Newser) - How to compete with online retailers? Sears has one idea: Offer drive-through shopping. The company is introducing "in-vehicle" curbside pickup, a program powered by a mobile app, MarketWatch reports. Customers place an online order, download the Sears app, drive to the store, and use the app to notify Sears... More »

Sears Owner Defies Thanksgiving Order

The day is for family, she tells head office

(Newser) - If you want to go appliance shopping on Thanksgiving evening, forget about doing it at the Sears Hometown store in Plymouth, New Hampshire. Franchise owner Holly Cassiano says it only took a couple of seconds for her to decide to angrily reject the head office's order to open at... More »

Troubled Sears Is 'Burning the Furniture to Stay Warm'

Latest financial results aren't so hot

(Newser) - "They are a zombie retailer, and with [Tuesday's] announcement, they are dismembering their body." Such is the gloomy pronouncement from Belus Capital Advisors honcho Brian Sozzi, who was yesterday discussing Sears with the New York Times . It's not exactly the first time Sozzi has dinged the... More »

QVC Confirms It's Dumping Paula Deen

Sears and Kmart are, too

(Newser) - QVC is apparently finished "reviewing" its relationship with Paula Deen in the wake of her n-word controversy, and not surprisingly, that review did not end with good news for Deen. Deen revealed in a statement yesterday that she and QVC have "agreed that it's best for me... More »

End of an Era? Sears Portrait Studio Closes

Chain might try to find a new photographer

(Newser) - The digital age might have another victim: Sears has shut down its portrait studio, at least for now, after the photography company that has been snapping family portraits for the chain since 1959 abruptly closed up shop, reports the Wall Street Journal . CPI Corp. also ran studios at Walmart and... More »

4 Stores on the Brink in 2013

Best Buy, JC Penney, Sears, RadioShack have their work cut out for them

(Newser) - The retail world is changing, and some old-school giants are struggling to change with it. Today the Wall Street Journal took a look at four companies facing a do-or-die 2013:
  • Best Buy: People still go to Best Buy … to look at things they intend to buy on Amazon later.
... More »

Disney, Sears Linked to Burned-Out Garment Factory

Fire that killed 112 was arson, officials say

(Newser) - Walmart wasn't the only major American retailer selling clothes produced in the Bangladesh factory where at least 112 people died in a fire over the weekend , the AP finds. Account books found in the charred remains reveal the factory took orders from Disney, Sears, and other Western brands. Garments... More »

S&P 500 Drops Sears

Retailer has been part of index since it began in 1957

(Newser) - Observers of the S&P 500 might notice the absence of a familiar name starting Wednesday: Sears is being dropped from the index, after being a part of it since the S&P's creation in 1957, reports CNNMoney . One of the main reasons cited for the move is a... More »

100 Kmart, Sears Stores to Get the Ax

Same-store sales are down 5.2% for the quarter

(Newser) - It seems that the Kardashian Kollection alone wasn't enough to save Sears from a horrible holiday season. Sears Holdings Corp. today announced that it will close between 100 and 120 of its approximately 2,200 Kmart and Sears full-line stores, reports the Wall Street Journal . It expects the sale... More »

Reason for Kim's Lookalike Lawsuit? Sears Deal

Kardashian has line launching at Sears soon

(Newser) - OK, so maybe it wasn't jealousy that led Kim Kardashian to sue Old Navy for using her doppelganger in commercials. Sources tell TMZ she actually filed the suit in order to protect a deal her family has with Sears to sell the Kardashian Kollection , a clothing and bedding line... More »

Willis What? Sears Tower Changes Names

Insurance company gets naming rights

(Newser) - An insurance company no one's ever heard of is suddenly a big name in Chicago.  Starting today, the Sears Tower—the tallest building in the Western Hemisphere—becomes Willis Tower, after Willis Group Holdings, the Sun-Times reports. Chicagoans grumbling about the name change, which Willis earned by leasing just... More »

Desperate in July, Sears Looks to Santa for Bailout

(Newser) - Sears is taking the “Christmas in July” trope to a whole new level. With June retail sales tumbling, the company is looking for a boost by selling actual Christmas products, Time reports. Soon, 372 Sears stores will roll out displays hawking tree ornaments, stocking stuffers, and other decidedly off-season... More »

Dow Off 15 Despite Retail News

(Newser) - A strong retail sector and defensive buying ahead of the holiday weekend couldn’t correct a general malaise that left markets down slightly today, the Wall Street Journal reports. Sears was up 12% on a Q1 profit. Little movement in financials was welcome to some who believe the sector is... More »

Stocks Mixed on Retail News

Wal-Mart falters, but Sears posts strong forecast

(Newser) - Stocks ended mixed today amid largely negative retail news and nervousness on unemployment, MarketWatch reports. Investors were shaken by poor December earnings and a reduced quarterly forecast posted by Wal-Mart, which managed to perform well through 2008. The Dow fell 27.24 to close at 8,742.46. The Nasdaq,... More »

Dow Rises 270 on Late Rally

(Newser) - Stocks rallied late in the session today, buoyed by rounds of bargain hunting following yesterday’s deep sell-off, the Wall Street Journal reports. GE rose 14%, despite lowering its forecast, on news that it will still pay a $1.24-per-share dividend next year. The Dow rose 270 points to close... More »

Morgan Stanley Eyes Smaller Fish to Boost Banking Cred

After converting from investment bank, company targets growth in deposits

(Newser) - Just months after converting from an investment firm into a bank-holding company, Morgan Stanley is already one of the top 50 US banks in terms of deposits, the Wall Street Journal reports—and is looking to acquire regional banks that will speed its climb. Analysts say it’s unlikely Morgan... More »

Wal-Mart Leads Feb. Retail Rally

Overall sales jump doubles expectations, calms consumer spending fears

(Newser) - Big retailers showed unexpected signs of life in February, beating weak sales predictions to inject some hope into the market. Wal-Mart led the way, posting a 2.6% same-store increase, beating its own predictions of flat-to-2% growth. Overall, same-store sales climbed 1.9%, with more than half of retailers beating... More »

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