In 1886, Minnesota railroad agent Richard Sears began selling watches to supplement his income. The following year, he moved to Chicago and hired watchmaker Alvah Roebuck. Sears, Roebuck and Co. was born. Now called Sears Holdings Corp., it is the country’s fourth largest retailer, operating 3,900 stores in the United States, Canada, Guam and Puerto Rico.
The modern company is the product of the 2005 acquisition of Sears by Kmart Holding Corp. Both chains operate as separate brands but have struggled with the recession and shifting retail marketplace; in December, the company announced plans to close 120 stores. Still, sales of home appliances, tools, lawn and garden items, consumer electronics, automotive repairs, apparel and more generated revenues of approximately $41.5 billion last year good for the No. 65 slot on the Fortune 500. Sears has 250,000 employees and maintains corporate headquarters in Hoffman Estates, Ill.
