Times Colonist

RETAIL ICON

-

Sears, which got its start as a watch seller more than 130 years ago, grew to become one of the world’s largest retailers. On Monday, the company filed for Chapter 11. A look at Sears through the years: 1886 — Richard Sears starts the R.W. Sears Watch Co. in Minneapoli­s. 1888 — The Sears catalogue is born, featuring watches and jewelry. By 1894, sewing machines, baby carriages and other items are added. 1893 — The company becomes Sears, Roebuck and Co. 1906 — Sears now a public company. 1913 — Sears launches the Kenmore brand of sewing machines. Today, refrigerat­ors, washing machines and other appliances are sold under the name. 1925 — The first Sears brick-and-mortar store opens in Chicago. 1927 — Sears buys the Craftsman trademark for $500 and begins to sell power tools under the brand two years later. In 2017, it sold the brand to Stanley Black & Decker in a $900-million deal. 1931 — Allstate Insurance Co. is launched, offering auto insurance. Sears sold its stake and Allstate became an independen­t company in the 1990s. 1973 — The company finishes building its new headquarte­rs, the Sears Tower in Chicago. At time, it was the world’s tallest building at 1,454 feet tall. Sears sold the landmark in 1994. Its current headquarte­rs are in Hoffman Estates, Illinois. 1985 — The Discover Card is introduced nationally. Sears spun off a financial company in the 1990s which included the card. 1993 — Sears stops sending its famous catalogue. 2005 — Kmart buys Sears and the company becomes the Sears Holdings Corp. 2017 — Sears closes all Canadian stores. 2017 — The company announces plans to cut $1 billion in costs by selling more store locations, cutting more jobs and putting more of its famous brands on the block. 2018 — Filed Chapter 11 bankruptcy.

Newspapers in English

Newspapers from Canada