Company Overview Visit sears.com website
The Sears corporation, or Sears, Roebuck and Company is a U.S based retail company that was founded in 1886 by Richard Warren Sears and Alvah Curtis Roebuck. The company was originally incorporated in 1893 under the name of Sears & Roebuck Co., but the company changed its name to Sears, Roebuck & Co. in 1894 when they sold their first catalogue of watches and jewelry , totaling about $150.
The catalogue started off as something that only contained watches, but quickly expanded into many other items such as clothing, shoes, tools, hardware, automotive parts, sporting goods, firearms, jewelry, grocery items, toys, housewares (kitchen appliances), electronics, beds / bedding etc. Later on, they were selling products by mail order and sending them through the US postal service, but now Sears operates stand alone retail stores.
In 2005, Sears Holdings Corporation was formed to take over the company's assets from its parent company, Sears, Roebuck and Company. This acquisition brought along subsidiaries such as Kmart, Lands' End, Allstate Insurance etc. The following year in 2006, a significant number of jobs were cut from its workforce due to a declining market share and poor sales performance during the previous holiday season periods. In July 2013, it filed for Chapter 11 bankruptcy protection which allowed them to reduce minimum payments on their debt obligations while it restructured itself.
Nowadays there are more than 1 million employees throughout all companies owned by Sears Holdings, which include Sears and Kmart. The company has a revenue of about $53 billion , but it's still not making a profit. Because of this, the company is still trying to improve its image again so that they can have more customers.