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Sears-Kmart merger
Coverage of Sears Roebuck & Co. merger with Kmart Holding Corp., from Chicago Tribune business staff.
Analyst suggests excess inventory
Defending millions of dollars in executive stock sales in the wake of a planned merger with Kmart Holding Corp., Sears, Roebuck and Co. felt compelled to reassure workers that there is reason for optimism about the retailer's future.
Trades address `short squeeze'
CEO COMPENSATION
Alan Lacy's company is being bought, but he's getting a good job and a nice raise.
Deal for Chicago icon creates No. 3 retailer
THE SEARS-KMART MERGER
Retail experts not sold on wisdom of combining 2 `broken' companies
THE DEALMAKER
When Alan Lacy took charge at Sears, Roebuck and Co. four years ago, he called his top executives to a meeting to talk strategy.
THE SEARS-KMART MERGER MARKETING
Will Martha Stewart be wearing a Lands' End cardigan in the Kmart stores of the future?
THE SEARS-KMART MERGER VORNADO REALTY TRUST
Vornado 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.
Merging mall anchor Sears, Roebuck and Co. with shopping-strip discounter Kmart won't happen overnight. But some details emerged as executives of the chains took the wraps off their $11 billion deal today.
Both chains continue in $11 billion merger
_1886: Richard W. Sears, a railroad station agent who sells coal as a side job, buys unwanted watches from jeweler and founds R.W. Sears Watch Co. in Minneapolis.
A look at the history of Kmart Holding Corp., which on Wednesday announced its was combining with Sears, Roebuck & Co.:
An 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.
Action by investors known for their real estate prowess spurs talk that the retailer's most valuable merchandise may be the property it sits on
INSIDE RETAILING
Why would a real estate investment trust buy 4.3 percent of the stock of Sears, Roebuck and Co.?
Vornado's stake fuels speculation about changes
Ending a six-month slump, Sears, Roebuck and Co. bounced back in October to handily beat Wall Street's estimates and boost its stock price by 5 percent.
$61 million loss for 3rd quarter
Sears, Roebuck and Co. said Thursday that it will revamp 97 of its traditional stores this month to improve apparel shopping for Hispanics, African-Americans and Asians.
Sears, Roebuck & Co. will take over three suburban Chicago Kmart stores, in a package deal for 50 Kmart stores worth $575.9 million.
Despite 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.
Retail giant admits problems are becoming a pattern
EARNINGS
2nd period weak and outlook bleak
Sears, Roebuck and Co. hired a former Wal-Mart Stores Inc. executive to help the struggling retailer's strategy for improving sales.
INSIDE RETAILING
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 head of Sears, Roebuck and Co.'s multicultural marketing group is leaving the Hoffman Estates retailer as part of a cost-cutting program sweeping the company.
Amid a fourth straight year of falling sales, Sears, Roebuck and Co. has launched an outside search for a new executive to oversee all of its stores and marketing operations.
Edward Lampert appears to be a man with a plan, but he isn't saying what's in store for Kmart, or for Sears
INSIDE RETAILING
The 61 standalone stores that Sears, Roebuck and Co. is buying from Kmart Holding Corp. and Wal-Mart Stores Inc. are an average of eight miles away from its traditional mall stores.
Home Depot, other chains take market share
Sales at Sears, Roebuck and Co.'s newest store format are 30 percent higher than expected, and even usual trouble spots such as clothing and home-and-bath departments are doing well, the retailer's top executive said Wednesday.
House makeover artist and carpenter signs a multiyear and potentially multirole deal as the retailer seeks to widen its appeal
Experiencing weakness in every department of its traditional mall stores, Sears, Roebuck and Co. was one of the few major retailers to post disappointing May sales, and the Hoffman Estates merchant on Thursday provided a more somber assessment of its second-quarter financial outlook.
Lacy memo calls it `a spending adjustment'
Future Sears Grand stores will be a little less grand.
Off-mall stores exceed outlook, executive says
INSIDE RETAILING
For the second time this year, Sears, Roebuck and Co.'s fashion sensibility is a punch line in a major motion picture.
The nation's largest public pension fund has issues with how the country's largest department store governs itself.
CEO Lacy admits some decisions hurt clothing sales
As part of a wide-ranging restructuring, Sears, Roebuck and Co. trimmed its executive suite and raised the possibility that additional jobs could be lost or outsourced at the Hoffman Estates-based department store chain.
Accountability, bonuses draw fire at annual meeting
INSIDE RETAILING
Mark Cosby, the new head of Sears, Roebuck and Co.'s full-line stores, put his first imprint on the division Monday by shaking up his management team.
$1.8 million extra as sales, stock fell
Daddy has his own “toy” section at Sears. Now the kids’ wish list might start looking like his.
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Discussion Your thoughts on the Sears-Kmart deal. Bonus: Suggest a new slogan for the merged company. This message board is now closed.
1. I don't understand all the negative comments made about Sears. I love Sears, shop there all the time and found that corporation strive toward customer satisfaction. The stores are clean and streamlined. . Cheap is not always the best. Good luck on the merger, WalMart needs the competition.
Submitted by: PJ 4:57 PM PST, Nov 18, 2004 Submitted by: target dog 10:58 AM PST, Nov 18, 2004 Submitted by: Derek 10:43 AM PST, Nov 18, 2004 |
Photo Gallery
Alan Lacy, Sears chief executive
(Photo for the Tribune by Jeff Kowalsky)
click to enlarge
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