Please remind me. Why did we buy Kmart?
13 replies (most recent on top)
I just hope the courts allow this new bill to go thru, that way eddie will suffer when the company folds, the workers will get whats coming to them and he will get whats left ...................
Eddie thought he was going to be the king of retail through his hedge fund. He even tried to buy up other businesses, like Restoration Hardware, but failed hilariously when the board told him to bug off. I think he might have had good intentions at first, but he really has no idea of how to run a company, let alone a retailer. He is a hedge funder, and not even a good one at that.
Eddie bought Kmart dumped a lot of the stores and with that money bought Sears. So in actuality, he bought both companies.
No, Eddie completed ruining both and milked it for all it was worth for 15 years. It was ruined before that.
WHO CARES. Sears didn't ruin Kmart and Kmart didn't ruin Sears. Eddie Lampert bought both and ruined both. He COULD have saved them both back then with good leadership, store investment, and innovation. But he didn't. End of story. (Probably.)
@fqx - Okay Eddie, we get it, you're a legend in your own mind. Now stop patting yourself on the back or you will end up damaging your rotator cuff.
Gotta love the infighting. Convenient that people don't remember the 90's when there was a lot of talk about how Sears probably wasn't going to make it long term. Eddie propped it up another 15 years or so. Be thankful you got that.
Recent article showing who bought Kmart and sears and just who profits, one person
https://www.google.com/amp/nypost.com/2017/04/22/sears-owner-has-milked-iconic-retailer-dry-analysts-say/amp/
Looks like Mr. Lambert bought both company's. If it wasn't for him, both company's would have been gone long ago.
http://archive.is/94UM0
Kmart bought Sears, as stated in the headline from the Wall Street Journal on November 18, 2004.
https://www.wsj.com/articles/SB110068961640976558
Eddie S. Lampert bought Kmart first, then he bought Sears. I heard
For those that still get this fact wrong, just look at Wikipedia. Here's a line from the Kmart article.
"On November 17, 2004, Kmart announced its intention to purchase Sears for $11 billion.[30] As a part of the merger, the Kmart Holdings Corporation would change its name to Sears Holdings Corporation. The new corporation announced that it would continue to operate stores under both the Sears and Kmart brands."
Kmart bought Sears.