Sears Holdings Corporation is a broadline retailer with full-line and specialty retail stores in the United States and Canada. The Company retails home appliances, as well as tools, lawn, garden, home electronics, and other products. Sears Holdings also provides automotive repair and maintenance.
The company is a leading retailer of appliances and tools, as well as lawn and garden, fitness, and automotive repair equipment. With about 1,200 retail stores across the US, Sears Holdings operates through subsidiaries Sears, Roebuck and Co. and Kmart, offering proprietary Sears brands including Kenmore and DieHard. Beyond retail, Sears Holdings is the largest provider of home installation and product repair services in the US. In response to plummeting sales in a tough retail climate, Sears Holdings has been forced to sell off assets and close or spin off hundreds of stores in recent years. In 2017 the company sold its Craftsman tool brand to Stanley Black & Decker for $900 million.
Sears Holdings operates two segments: Sears Domestic, which boasts 670 full-line stores that generated about 60% of Sears Holdings’ total sales in fiscal 2016 (ended January 30, 2016); and Kmart, which had 735 Kmart stores that contributed another 40% to Sears Holdings’ total sales.
By product, the retailer generated 43% of its total sales from hardline merchandise (electronics, appliances, tools, etc.) and another 25% from apparel and soft home items. About 15% of sales came from food and drug sales, while service (installation and repair) made up another 9% of total sales during the year.
Outside of retail, Sears Holdings has a real estate business unit called Sears Holdings Real Estate, one of the largest corporate real estate organizations in the world. It offers for sale or lease closed Kmart and Sears stores. It also leases empty space inside and outside of the stores.
Sears Holdings subsidiary Sears, Roebuck and Co. has Sears-branded and affiliated stores in all 50 US states and Puerto Rico. Subsidiary Kmart boasts Kmart-branded stores in 49 states, Guam, Puerto Rico, and the US Virgin Islands.
Sears Holdings was created in 2005 as a result of the $11.9 billion mega-merger of Sears and struggling Kmart masterminded by chairman and CEO Edward Lampert.