Sears
Sears is an American retail store chain. The parent company, Sears Holdings, also owns K-mart.
The company was founded by Richard Warren Sears and Alvah Curtis Roebuck in 1886. It began as a mail order catalog company, and began opening retail locations in 1925. Until World War II, it was eclipsed by its Chicago-based rival Montgomery Wards. However, after World War II, Sears expanded into suburban areas while Wards maintained its cash in expectation of a post-war depression. Sears invested in many enclosed shopping malls. After surpassing Wards, Sears moved its headquarters to the Sears Tower in Chicago and is currently headquartered in Hoffman Estates, Illinois.
By 2018, the company was performing poorly and had closed hundreds of its stores in the U.S.[1]
References
- ↑ Sears set to close 78 stores this year. Axios. July 2, 2018. Retrieved July 2, 2018.
