What is Sears? Sears Review

Sears (Roebuck and Company) is an American department store chain founded by Richard Warren Sears and Alvah Curtis Roebuck. It is a leading diversified retail company that provides merchandise and related services. It was later re-registered in 1906 by Richard Sears and new partner Julius Rosenwald. On October 15, 2018, the company filed for bankruptcy protection in the United States court.

About Sears

·Sears, a century-old American department store, sells a wide range of household goods, clothing and automotive products, including a full range of household living supplies, and is the most trusted shopping choice for American families. Sears also provides a variety of goods and services through sears.com, landsend.com and specialty catalogs. Sears is the only retail store where consumers can find brands such as Kenmore, Craftsman, DieHard and Lands End, which are the most reputable and best-selling brands in the United States. The company is the largest product repair service provider, providing more than 14 million services each year. It is known as the "king of department stores" by the American people and enjoys the reputation of the Academy of Retail Science in the Western business community.

Business scope: home appliances, toys, jewelry, clothing, beauty products, daily necessities, household items, etc.

Important development history

-In 2002, Fortune magazine ranked Sears 83rd on the Fortune 500 list with sales of $41.1 billion.

-In 2003, it ranked 81st with sales of US$41.4 billion, behind Wal-Mart, Carrefour, Metro and other companies.

-Formed in 2005 by Kmart's acquisition of Sears (Troy, Michigan), the company was once the tenth largest retailer in the United States in terms of annual revenue.

-On January 15, 2017, Sears Holdings sold Craftsman to Stanley Black & Decker for $900 million.

- Due to its inability to compete with e-commerce, Sears Holdings' debts gradually increased. On October 15, 2018, the company filed for bankruptcy protection in the U.S. court. According to the bankruptcy filing, Sears Holdings' assets are worth about $6.9 billion and its liabilities are $11.3 billion.