Sears notes doubt it will survive after years of losses

NEW YORK — Sears, a back-to-school shopping destination for generations of kids and the place newlyweds went to choose appliances, has said that after years of losing money there is “substantial doubt” it will be able to keep its doors open.

It’s a dramatic acknowledgment from the chain that owns Sears and Kmart stores, which has long held fast to its stance that a turnaround is possible, even as many of its shoppers have moved on to WalMart, Target or Amazon.

Sears has survived of late mainly with millions in loans funneled through the hedge fund of Chairman and CEO Edward Lampert, but with sales fading it is burning through cash. Sears Holdings Corp. said late Tuesday it lost more than $2 billion last year, and its

“We did a ton of research, talked to a lot of parents, and heard over and over again about the challenges that families face,” Lu said.

“There are so many teens in activities, many students also have jobs, and parents have several children. Both parents may work, and then there are single parents who don’t have even a little bit of wiggle room.”

Providing transportation, therefore, becomes a huge issue, especially as more teens delay getting their driver’s license, Lu said.

UberTeen works by having parents invite their teens to join a family profile and create an Uber account designed for teens.

Once teens accept the invitation and create an account, they can get rides from experienced drivers who have received consistently high ratings from Uber riders.

Parents get the driver’s name and photo and can call or text the driver directly at any time. During the ride, parents can follow along in real time by looking at a map tracking the trip.

A receipt is sent to the parent with full trip details after every ride.

The teen-oriented project “sounds really good,” said Lee Peterson, an executive vice president at WD Partners, a Dublin retailconsulting company. “There are just too many pluses to not use it.

“When my oldest daughter went to college, she started using Uber regularly, and we had trepidations about it,” Peterson said. “Then I started using Uber all over the world and realized how great it was. So I always wanted them to do an UberTeen. When you have working parents and your kid needs to get to the dentist or needs to get home or has missed a ride, it would be so ideal.”

Teens can’t use Uber to go anywhere but the parent-designated destination.

“During the trip, parents get regular information updates,” said spokeswoman Charity Jackson.

“If, in the middle of the trip to basketball practice, for instance, the teens decide they would rather go to their friend Andy’s house, parents automatically get a notification so they can say, ‘We know where you are — and get back to basketball practice.’”

Parents also are notified if the teens are dropped off more than six-tenths of a mile from their expected destination.

There is no definite timeline to roll out the service nationally.

“We’re learning at this stage,” Lu said. “Right now, we’re just looking to get out and make sure we are actually answering the challenges that parents face. We’ll go from there.”