Dave Henderson

The decline of Sears

Recommended Posts

Sears essentially ceased to exist when it WAS ACQUIRED by K-Mart. For $11B. Then K-Mart decided to rename the combined entity Sears Holdings only because Sears had a better name, more recognizable. The total market cap now is $247 Million, and so that includes both Sears and K-mart stores! Which makes the acquisition of Sears by K-Mart for $11 Billion look over-priced.

 

I point this out because some people on this board seem confused, thinking Sears bought K-Mart, since it is called Sears holdings.

 

It was like when Nations Bank, in Charlotte, NC bought Bank of America. Bank of America continues to exist, but only because of the generosity of Nations Bank in that they decided to keep that name and retire their own. Bank of America was headquartered in San Francisco, but the new one is in  Charlotte, no surprise.

 

On November 17, 2004, Sears announced it was being acquired by the management of Kmart Holding Corporation (company that owns Kmart) for $11 billion after Kmart completed its bankruptcy (USA Today Nov. 17, 2004). As a part of the acquisition, Kmart Holding Corporation along with Kmart was transferred to the new Sears Holdings Corporation and Sears was purchased by the new Sears Holdings. The new company started trading on the NASDAQ stock exchange, Sears sold its single letter ticker symbol 'S' it had held since 1910 to Sprint.[26] The new corporation announced that it would continue to operate stores under both the Sears and Kmart brands.

Edited by mike6024 (see edit history)

Share this post


Link to post
Share on other sites
14 hours ago, GregLaR said:

 

Scavengers and looters rather than property owners, I'm sure.

 

Greg, my Bronx instincts left me for a few minutes on that I should have realized better

Share this post


Link to post
Share on other sites

My daughter works at a Lowes, she says the Craftsman brand will soon take over a lot of the stuff that Lowes now sells.  For instance, there won't be any more Kobalt tool boxes, it'll only be Craftsman.  She said that there'll be a clearance sale on Kobalt stuff at some point.  I don't think all the Kobalt is disappearing, but some is.....

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now