Photos: The rise and fall of Sears | CNN (2024)

Photos: The rise and fall of Sears | CNN (1)

A dismantled sign leans outside a Sears store in Nanuet, New York, one day after it closed in 2019.

U.S.

Updated 1:55 PM EST, Tue November 29, 2022

Sears was both the Walmart and Amazon of its time.

It started 136 years ago and made its name through its catalog business, selling mass-produced goods to Americans all across the country.

By the middle of the 20th century, it was the largest private-sector employer in the United States, with its stores anchoring malls and spreading rapidly.

But Sears, like many department stores, has fallen on hard times. The company has been bleeding money since 2011, and it filed for bankruptcy in 2018.

In February 2019, a judge approved the sale of most of its assets to a hedge fund controlled by Eddie Lampert, the company's chairman, for $5.2 billion. The decision kept 425 stores open and saved the jobs of about 45,000 employees.

But its downward spiral has continued, leaving the company with only 15 full-line Sears stores still open.

Photos: The rise and fall of Sears | CNN (2)

A dismantled sign leans outside a Sears store in Nanuet, New York, one day after it closed in 2019.

Photos: The rise and fall of Sears | CNN (3)

Businessman Richard W. Sears was a railroad station agent who started selling watches as a side business in North Redwood, Minnesota, in 1886. The following year, he moved to the company's first Chicago location and hired watchmaker Alvah Roebuck. The two started a catalog business selling watches and jewelry in 1888, incorporating under the Sears Roebuck name in 1893.

Photos: The rise and fall of Sears | CNN (4)

The cover of a Sears Roebuck and Co. catalog in the fall of 1900. The Sears catalog was the way many Americans first started to buy mass-produced goods.

Photos: The rise and fall of Sears | CNN (5)

A Sears, Roebuck and Co. store in El Paso, Texas, circa 1940. Sears' stores helped reshape America, drawing shoppers away from the traditional Main Street merchants.

Photos: The rise and fall of Sears | CNN (6)

Sales clerks go on strike in Chicago circa 1946.

Photos: The rise and fall of Sears | CNN (7)

A Sears store in Jackson, Mississippi, in 1949.

Photos: The rise and fall of Sears | CNN (8)

People vote inside a Sears store in Tucson, Arizona, in 1953.

Photos: The rise and fall of Sears | CNN (9)

A woman receives a cosmetics consultation at a Sears store in Caracas, Venezuela, circa 1953.

Photos: The rise and fall of Sears | CNN (10)

A worker goes over files in Sears' catalog office.

Photos: The rise and fall of Sears | CNN (11)

Cars fill a parking lot outside a Sears store, circa 1958.

Photos: The rise and fall of Sears | CNN (12)

Sales clerk Lucille Jagusch shows drapery samples to shopper Arlene Hardt at a Sears store in Niles, Illinois, in 1961.

Photos: The rise and fall of Sears | CNN (13)

People shop inside a Sears store in Morton Grove, Illinois, in 1961.

Photos: The rise and fall of Sears | CNN (14)

Soldiers guard a Sears store in Baltimore after riots broke out following the assassination of Martin Luther King Jr. in 1968.

Photos: The rise and fall of Sears | CNN (15)

People watch the Apollo 11 rocket launch at a Sears store in White Plains, New York, in 1969.

Photos: The rise and fall of Sears | CNN (16)

An iron worker helps construct the Sears Tower in Chicago. Sears' new headquarters, built in 1973, was the world's tallest building until 1998. Sears sold the building in 1994.

Photos: The rise and fall of Sears | CNN (17)

A customer shops in Woodfield, Illinois, in 1991.

Photos: The rise and fall of Sears | CNN (18)

A woman works at a Sears in Hicksville, New York, in 1994.

Photos: The rise and fall of Sears | CNN (19)

Seth Meyers, left, and Hugh Jackman play Sears photographers during a "Saturday Night Live" skit in 2001.

Photos: The rise and fall of Sears | CNN (20)

Kaylin Wilson sets up children's clothes in a Kmart in Nashua, New Hampshire, in 2005. The store was the first Kmart in the country to begin receiving Sears merchandise after stockholders voted on a merger to form the nation's third largest retailer.

Photos: The rise and fall of Sears | CNN (21)

Black Friday shoppers duck under the opening door of a Sears store in Mentor, Ohio, in 2011.

Photos: The rise and fall of Sears | CNN (22)

A woman in Mississauga, Ontario, looks at used store furniture for sale in 2018. The Sears location was closing forever.

Photos: The rise and fall of Sears | CNN (23)

Shoppers wait in line by an empty rack of jeans during a 2019 Black Friday sale at a Sears store in Hialeah, Florida.

Photos: The rise and fall of Sears | CNN (24)

Residents cast their vote in the 2020 presidential election at a shuttered Sears store in Janesville, Wisconsin.

Photos: The rise and fall of Sears | CNN (25)

Cesar Villasenor, right, sweeps away dirt in front of a vacant Sears store in Santa Monica, California, in 2020. The location underwent a $50 million makeover to turn the Art Deco-style building into an office, restaurant and retail complex.

Photos: The rise and fall of Sears | CNN (26)

A police sergeant receives a Covid-19 vaccination in a former Sears store at the Townsquare Mall in Rockaway, New Jersey, in 2021.

Photos: The rise and fall of Sears | CNN (27)

People arrive to receive Covid-19 shots in 2021 at a vaccination site in a former Sears store at the Lake Square Mall in Leesburg, Florida.

Photos: The rise and fall of Sears | CNN (28)

Patti Naleck pushes a cart carrying a mannequin through a Sears store that was about to permanently close in Schaumburg, Illinois, in 2021. Naleck said she plans to use the mannequin for Halloween displays.

Photos: The rise and fall of Sears | CNN (2024)

FAQs

What led to the downfall of Sears? ›

Increased competition with other big-box retailers and the rise of Amazon and online shopping took a bite out of Sears' profits. Within the company, tensions were brewing between lower-level management, employees, and Eddie Lampert.

Does sear still exist in the US? ›

As of April 2024, there are 11 Sears stores remaining, with 10 in the mainland US and one location in the US territory of Puerto Rico.

Could Sears make a comeback? ›

Could Sears make a comeback? Simeon Siegel, a retail analyst at BMO Capital Markets, said it was still possible for a store with strong brand-name recognition, like Sears, to make a comeback, even in the internet age.

What was the old name for Sears? ›

The beginning

The following year, he moved to the company's first Chicago location and hired watchmaker Alvah Roebuck. The two started a catalog business selling watches and jewelry in 1888, incorporating under the Sears Roebuck name in 1893.

Who was Sears' biggest competitor? ›

The company's biggest competitors to date have been Walmart and Amazon. Other rivals include Macy's, JC Penney, Home Depot, Lowe's, and Best Buy. Sears Holdings spun off and sold many of its business units and brand names.

What killed the Sears catalog? ›

Sears' key failure was a lack of innovation. Without a replacement for their catalogue, Sears gave up their edge and lost their advertising and consumer data advantage. This resulted in the downfall of sears.

What company owns Sears now? ›

Who bought SEAR? ›

Sears, Roebuck and Company department store. Sears, American retailer of general merchandise, tools, home appliances, clothing, and automotive parts and services. It is a subsidiary of Sears Holdings Corporation, which, following a bankruptcy auction, was purchased by the hedge fund ESL Investments in 2019.

How many Kmarts are left in 2024? ›

The Great California Kmart Exodus

As of today, April 29, 2024, there are exactly zero Kmarts left in the Golden State. That's right, not a single K-mart blue light to be seen amongst the palm trees.

What do Sears do now? ›

Sears Holdings now operates Sears and Kmart stores. The company continues to market products under brands held by both companies.

How many stores did Sears have at its peak? ›

The retailer, which once boasted some 3,500 stores, has slowly whittled down its footprint.

Is Kmart still around? ›

As of April, 2024, there are 12 Kmart stores in the United States. These stores are located in 8 states and territories and 11 cities. The state with the most Kmart locations is U.S. Virgin Islands, with 3 stores.

Who was the black man in The Sears Roebuck? ›

Rosenwald was the businessman and philanthropist, best known not only for leading the birth and growth of 125-year-old Sears, Roebuck & Co., but also for establishing the Rosenwald Fund.

What ethnicity is Sears? ›

Race and Ethnicity of people with the last name Sears
ANCESTRY BREAKDOWNCOMPOSITION
British & Irish54.3%
French & German24.1%
Scandinavian3.7%
Other17.9%

Did Sears ever sell houses? ›

Sears Modern Homes were houses sold primarily through mail order catalog by Sears, Roebuck and Co., an American retailer. From 1908 to 1942, Sears sold more than 70,000 of these houses in North America, by the company's count.

What was the problem facing Sears? ›

A lack of continual and sustained investment.

Over time Sears stores started to look tired. That was not by accident. Over the years Sears stopped investing in its stores.

What did Eddie Lampert do to Sears? ›

He had sold Sears's line of Craftsmen tools to Stanley Black & Decker for around $900 million. He had created a real-estate-investment trust, Seritage Growth Properties, spun it off from Sears Holdings, and sold it 235 Sears and Kmart stores, generating some $2.7 billion in proceeds for Sears Holdings.

How did Sears fail to innovate? ›

Unfortunately, Sears was slow to embrace new technologies and innovations and failed to champion this ever-evolving “game”. Saddeningly, the company took on high levels of debt, which made it more difficult to invest in growth and innovation.

What happened to the Sears? ›

The company filed for Chapter 11 bankruptcy protection on October 15, 2018, in New York; the same day that a $134 million debt payment was due, and will close 142 stores, including 63 Kmart stores and 79 Sears stores. All other Kmart and Sears stores are staying open to turn the company around.

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