Sears is bringing back its Wish Book holiday catalog after a six-year hiatus. "Our members told us they missed the Wish Book, so we had to bring it back, but in a special way that lets you share more joy wherever you are,” Kelly Cook, chief marketing officer for Hoffman Estates-based Sears and Kmart, said in a news release Wednesday. It came out almost every year — with a gap in 1993 and 1994 — until 2011, when Sears decided to focus on other holiday initiatives, Cook said. Wish Books varied in size, but they often topped 600 pages, she said. Click Read More below for additional information.
Sears Holdings Corp.’s revenue dropped 25% in the second quarter as the chain continues to shrink its footprint.
Sears said it lost $508 million, or $4.68 a share, in the quarter ended Aug.4, compared with a loss of $250 million, or $2.33 a share, in year-ago period.
Sales fell to $3.18 billion from $4.27 billion last year amid store closures. Same-store sales decreased 3.9%, the smallest decline in over three years. By banner, same-store sales fell 3.7% at Kmart and 4% at Sears.
In a statement, Sears chairman and CEO Edward Lampert said he encouraged by the quarter’s improved comparable stores sales trend and the positive comparable store sales of 3.0% and 2.5% achieved in the months of July and August, But he noted that the company has not met its goal of returning to profitability, and hinted that more store closings may be in the offing. (In August, Sears announced it was closing another 40 stores.)
“We continue to close unprofitable stores, and we are hopeful that we can stabilize our store base at a meaningful level in the near future,” he said. “Our goal is to right-size our store footprint to a solid base from which we can operate and grow profitably, while leveraging our online and Shop Your Way platforms.”
more at source: https://www.chainstoreage.com/finance-0/sears-q2-loss-widens-hints-at-more-store-closings/