Finance

What a Whole Foods takeover of Sears would look like – Yahoo Finance


<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Amazon (AMZN) may have helped quicken the end for former retail giant Sears (SHLD), and the e-commerce giant could also take advantage of the emptied Sears stores.” data-reactid=”15″>Amazon (AMZN) may have helped quicken the end for former retail giant Sears (SHLD), and the e-commerce giant could also take advantage of the emptied Sears stores.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The company’s Whole Foods division is now eyeing the bankrupt Sears’ closed stores, hoping to take advantage of the chain’s locations in states like Montana and Wyoming which were previously considered out of its reach, sources told Yahoo Finance’s Krystal Hu.” data-reactid=”16″>The company’s Whole Foods division is now eyeing the bankrupt Sears’ closed stores, hoping to take advantage of the chain’s locations in states like Montana and Wyoming which were previously considered out of its reach, sources told Yahoo Finance’s Krystal Hu.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Over the past three years, 126-year-old Sears has closed 123 Sears stores, 205 Kmart stores, and laid off thousands of employees. (Kmart is owned by Sears.) Sears is now facing liquidation.” data-reactid=”17″>Over the past three years, 126-year-old Sears has closed 123 Sears stores, 205 Kmart stores, and laid off thousands of employees. (Kmart is owned by Sears.) Sears is now facing liquidation.

Here’s what a Whole Foods takeover of Sears stores would look like on a U.S. map:

A Whole Foods takeover of Sears would span the U.S. (Graphics: David Foster/Yahoo Finance)

<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Any Whole Foods takeover of Sears would depend on liquidation” data-reactid=”30″>Any Whole Foods takeover of Sears would depend on liquidation

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Sears began as Sears, Roebuck and Co. in 1893, selling jewelry and watches. The company listed on the New York Stock Exchange in 1906. It also expanded into financial services in 1980’s, and introduced the Discover credit card in 1985.” data-reactid=”31″>Sears began as Sears, Roebuck and Co. in 1893, selling jewelry and watches. The company listed on the New York Stock Exchange in 1906. It also expanded into financial services in 1980’s, and introduced the Discover credit card in 1985.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="In its heyday in the 1970’s and 80’s, Sears saw its annual revenue reaching around 1% of the U.S. gross domestic product. ” data-reactid=”32″>In its heyday in the 1970’s and 80’s, Sears saw its annual revenue reaching around 1% of the U.S. gross domestic product.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="But with competition from other retailers like Target and Walmart, the company began to slowly lose its foothold, and with the advent of Amazon, ran into bankruptcy.” data-reactid=”33″>But with competition from other retailers like Target and Walmart, the company began to slowly lose its foothold, and with the advent of Amazon, ran into bankruptcy.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Sears Chairman Eddie Lampert — who also owns hedge fund ESL Investments, Sears’ company’s biggest shareholder and creditor — has one last chance to buy the chain out of bankruptcy and save around 50,000 jobs and 425 stores.  ” data-reactid=”34″>Sears Chairman Eddie Lampert — who also owns hedge fund ESL Investments, Sears’ company’s biggest shareholder and creditor — has one last chance to buy the chain out of bankruptcy and save around 50,000 jobs and 425 stores.  

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Lampert’s plans are contingent upon an auction that will take place on Monday where a judge will decide if a takeover or a liquidation is the next step” data-reactid=”35″>Lampert’s plans are contingent upon an auction that will take place on Monday where a judge will decide if a takeover or a liquidation is the next step

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Aarthi is a writer for Yahoo Finance. Follow her on Twitter @aarthiswami.” data-reactid=”36″>Aarthi is a writer for Yahoo Finance. Follow her on Twitter @aarthiswami.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Read more: ” data-reactid=”37″>Read more:

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and reddit.” data-reactid=”42″>Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and reddit.

 

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