GirlHacker's Random Log

almost daily since 1999

 

I loved this NY Times headline “Sears Reinvents Itself, but What Exactly Is It?” Sears, Roebuck has decided to sell its credit card business, a mainstay of its business since the Depression era. In addition to having the Sears private-label cards, which they may decide to retain, Sears is the third-largest issuer of MasterCards. The business was generating 60 percent of Sears’ earnings, however there have been a few wrinkles recently and they want to put a focus back on retail. The profits from a sale of the credit assets could prove useful in repositioning and renovations. But Sears’ retail is a dichotomy of new higher end Land’s End clothing, affordable clothing, their respected tools and hardware, and appliances. They abandoned their catalog, an American institution, in 1993. There isn’t much to bring in shoppers unaccustomed to going to Sears to buy Craftsman tools and vacuum cleaners.

Written by ltao

March 28th, 2003 at 1:23 am

Posted in Uncategorized