Sears
Pioneering mail-order catalog and department store chain.
Sears, Roebuck and Co., commonly known as Sears, was an American chain of department stores and online retailer. The company originated from a watch-selling venture begun by Richard Warren Sears in 1886, after he purchased a shipment of watches refused by a jeweler and resold them at a profit to fellow railroad station agents. He soon partnered with watch repairman Alvah Curtis Roebuck, and in 1887 they moved the business to Chicago, issuing their first mail-order catalog for watches, diamonds, and jewelry. Sears briefly sold the business in 1889, but returned to Chicago in 1892 to start a new mail-order firm with Roebuck. In 1893, they renamed the company Sears, Roebuck and Co. and rapidly expanded their catalog offerings to include sewing machines, bicycles, sporting goods, automobiles, dolls, stoves, and groceries. By 1895, the catalog had grown to 532 pages, with sales surpassing $750,000. The Panic of 1893 caused financial strain, leading Roebuck to sell his half of the company in 1895 to Julius Rosenwald and Aaron Nusbaum. Rosenwald, a Chicago businessman, brought rational management and diversified product lines, including dry goods, hardware, and furniture. Sears and Rosenwald bought out Nusbaum in 1903, and in 1906 they took the company public in the first major retail IPO in American history, reincorporating in New York. That year, Sears opened its massive catalog plant and the Sears Merchandise Building Tower in Chicago, which served as corporate headquarters until 1973. By 1907, annual sales reached roughly $50 million. Sears resigned the presidency in 1908 due to declining health, leaving Rosenwald in full control. The company acquired the David Bradley Plow company in 1910, later manufacturing riding mowers and chainsaws. A severe farm depression from 1919 to 1921 badly hurt the business. Sears opened its first retail locations in 1925, and through the 1980s it was the largest U.S. retailer, until surpassed by Walmart in 1989. In 2005, Eddie Lampert merged Sears with Kmart to form Sears Holdings. The parent company filed for Chapter 11 bankruptcy in October 2018, after which Transformco focused on selling off remaining real estate. From a peak of 2,705 stores in 2011, only five U.S. stores remained open.
- founders
- Richard Warren Sears and Alvah Curtis Roebuck
- field
- Retail
- nationality
- American
- known_for
- Mail-order catalog, first major retail IPO, largest U.S. retailer through the 1980s
Lore & Background
Sears, Roebuck and Co., commonly known as Sears, is an American chain of department stores and online retailer. Its defining characteristic was its origin as a mail-order catalog company, which began in the late 19th century with a focus on watches and jewelry before rapidly diversifying into sewing machines, bicycles, sporting goods, automobiles, dolls, stoves, and groceries. The company opened its first physical retail locations in 1925. Through the 1980s, Sears was the largest retailer in the United States, a position it held until surpassed by Walmart in 1989. At its peak in 2011, the chain operated 2,705 stores; as of the present, only five stores remain open in the U.S. The company’s history includes a major initial public offering in 1906, which was the first significant retail IPO in American financial history, and it was a component of the Dow Jones Industrial Average from 1924 to 1999. Its corporate headquarters were originally housed in the Sears Merchandise Building Tower in Chicago, a complex that also served as the base for its mail-order catalog operations until 1995. The company’s parent filed for Chapter 11 bankruptcy in 2018, after which Transformco shifted focus to managing and selling off remaining real estate assets.
Reader's Guide
Sears transformed American retail by pioneering the mail-order catalog, which brought a vast array of goods to rural households. Founded in 1892 by Richard Warren Sears and Alvah Curtis Roebuck, the company began as a mail-order watch business after Sears sold rejected watches to fellow railroad agents. Relocating to Chicago, the partners issued their first catalog offering watches, diamonds, and jewelry. By 1894, the catalog had expanded to 322 pages, adding sewing machines, bicycles, sporting goods, and even automobiles. The company reincorporated in 1906 under Richard Sears and Julius Rosenwald, who brought rational management and diversified product lines including dry goods, drugs, and furniture. That year, Sears opened its catalog plant and the Sears Merchandise Building Tower in Chicago, which served as headquarters until 1973. The 1906 IPO was the first major retail public offering in American financial history. Sears was the largest U.S. retailer through the 1980s, surpassed by Walmart in 1989. After a 2005 merger with Kmart, the parent company filed for Chapter 11 bankruptcy in 2018. Post-bankruptcy, Transformco focused on managing and selling off remaining real estate. From 2,705 stores in 2011, only five remain open. Sears’ legacy includes its catalog, the Sears Wishbook, and its role in shaping modern retail practices.
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