The first quarter of 2018 is over, and Sears has reported quite a decline in revenue compared to that of one year ago. At this point last year, total revenue amounted to $4.2 billion; it only totaled $2.9 billion this year. Last spring, Sears Holdings, which includes Sears and K-Mart stores, still had 1,275 stores open; as of May 5, only 894 of those were still operating.

Sears tries to save itself

In 2015, Seritage Growth Properties bought more than 200 stores from Sears Holdings and leased them back to Sears. Seritage is a real estate investment trust that is partially owned by Eddie Lampert, the chairman and CEO of Sears Holdings.

This was one attempt to keep the company from losing money.

According to National Public Radio, at this time last year, the company voiced their concern regarding their ability to continue operating. Lampert has made more than one attempt to change the fate of his business. He suggested that the company sell the Kenmore brand, which consists of household appliances, since they had already sold their Craftsman brand to Stanley Black and Decker in 2017. Sears also made a business deal with Amazon so that they could start selling Kenmore products and DieHard batteries outside of their physical stores.

Sears loses business to competition

Sears started out as a one-product company, and they sold watches.

It soon became a one-stop shop; shoppers could buy everything from small kitchen appliances to tires. It grew so quickly, in fact, that Gordon Weil, author of "Sears, Roebuck, U.S.A.," said: "I think the world got away from Sears. Things began to happen more quickly in the marketplace, and they failed to understand the growing role of women and shopping in stores like theirs." He also said, "They became just another store."

Since 2011, Sears has closed hundreds of stores due to the popularity of online shopping.

Amazon is a big competitor when it comes to cyber deals, but Sears Holdings has also had to compete with Wal-Mart. Even the primary location, once called Sears Tower, was renamed Willis Tower in 2014 when the flagship store closed. Since then, Sears has seen nothing but a decline in sales. According to The Wall Street Journal, total merchandise sales are down 34 percent.

Sears itself has lost 13.4 percent of revenue, and K-Mart’s sales have declined by 9.5 percent. Their shares have gone from $100 to just $3 per share. Out of the 100 stores found to be non-profitable, 72 will be closing soon. Sears will be releasing those locations on Thursday, May 31.
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