Sears Synopsis
Synopsis: Sears
In 2004, Kmart announced the company was buying Sears Roebuck and Co, creating the third-largest retailer in the country behind Wal-Mart and Home Depot. “Sears has had a very different problem from Kmart”, said Sears Chairman Alan Lacy. “Our services and products are as good as our competitors but they are not where our customers are “This gives us the opportunity to grow off-mall locations closer to the customer “(CNN Money 2004). While each store would continue to be maintained separately; as part of Lacy’s plan, the new company, Sears Holdings planned to covert several hundred Kmarts to Sears. Founded in Detroit in 1899, as S.S. Kresge, Kmart was known for home accessories and its strong clothing sales. Sears began in 1886 as it sold watches though catalogs. However, throughout the years, the company became best known for its Craftsman tools and Kenmore appliances. For customers, the deal would be a win- win situation. “Imagine going into......
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Approximate Pages: 3 (250 words per double-spaced page)
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