Sears Employee Killed By Exploding Tire
A Sears employee was killed and a customer was injured at a Sears Auto Center in Sandown, N.H, by an exploding tire, according to local media. Salem Police say they believe the employee was leaning over the tire changer, which inflates the tire the same time it mounts the rim and seals it, and was
Goodyear, Sears Settle $18.9M Tire Lawsuit
Goodyear Tire & Rubber Co. and Sears Roebuck & Co. have settled the $18.9 million lawsuit the tiremaker brought against Sears after claiming the retailer owed Goodyear for tires it manufactured exclusively for the retailer, the Akron Beacon Journal reported. The settlement details were not made public, but Goodyear issued a statement saying, “On Oct. 2,
CFO Made Interim Head of Sears Automotive
The revolving door at Sears Holdings Corp.’s tire and auto service center unit just turned once again. Norman Hill, hired just 16 months ago to lead Sears Automotive, left the struggling retailer in June, and was just replaced on a temporary basis by Sears CFO Brian Kaner. Over the last two years, Sears has closed
Sears Sales, Shares Drop
Sears Holding Corp.’s sales figure continues to fall in the recently released second quarter performance update. During the second quarter, Sears Domestic store sales dropped 13.9% quarter to date, according to the company. Sales at stores open at least a year dropped 10.6% quarter to date. Sears stock dropped more than 10% as a result.
Sears, Michelin Celebrate 50 Years
Michelin North America Inc. and Sears are celebrating their 50th anniversary of business with promotions and special events throughout July and August. During the two-month celebration, Sears Shop Your Way members can enter an online sweepstakes to win a four-year lease of a Chevrolet Camaro. “Fifty years ago Sears and Michelin took a big risk
Sears $2.5 Billion Property Sale an Opportunity for Troubled Company
Sears Holdings expects to generate $2.5 billion from the sale of 254 properties to a real estate investment trust, the company’s chairman and CEO Eddie Lampert announced during its annual shareholders meeting. With this sale, Lampert announced numerous potential changes at Sears and K-mart stores that will “put to rest a lot of the doubters
Sears Real Estate Dealings to Net $2.6 Billion: AP
Sears Holding Corp. is entering into at least two real estate deals that will bring the financially troubled retailer an infusion of some $2.6 billion, the Associated Press reported earlier this week. In one deal, Sears and shopping mall owner General Growth Properties Inc. will form a joint venture whereby General Growth will buy 12
Sears Auto Center In Court
A customer is suing a Sears Auto Center in Louisiana for allegedly not putting all of her tire’s lug nuts back on after replacing tires. The customer alleges that this resulted in one of the wheels falling off the car, causing injuries to the vehicle’s occupants. The suit is being filed against Sears, Roebuck and
Sears To Consider Real-Estate Investment Trust
On Friday, Nov. 7, Bloomberg reported another turn in Sears Holdings Corp.’s story: the company has begun considering selling 200 to 300 stores to a newly formed real-estate investment trust. According to the report, spinning off the property into a real-estate investment trust could generate $1.8 billion to $1.9 billion. Sears would then lease the
Goodyear Sues Sears for Breach of Contract in Weatherhandler Tires Deal
Goodyear Tire & Rubber Co. has filed a federal lawsuit against Sears Roebuck & Co. seeking $19.5 million in a dispute over the companies’ agreement to produce co-branded tires for Sears. According to a report in the (Cleveland) Plain Dealer, Goodyear accused Sears of backing out of a deal struck in 2009 to produce Weatherhandler
