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Sears, Roebuck and Co., commonly known as Sears (/ s ɪər z / SEERZ), [6] is an American chain of department stores founded in 1892 by Richard Warren Sears and Alvah Curtis Roebuck and reincorporated in 1906 by Richard Sears and Julius Rosenwald, with what began as a mail-order catalog company migrating to opening retail locations in 1925, the first in Chicago. [7]
Sears Credit Card – Sears credit card and Sears MasterCard is owned and operated by Citibank since 2003. [77] In February 2025, Citibank notified Sears Mastercard customers that their Sears branded cards were being replaced with Citi ThankYou Mastercard. After April 2025, Citibank would no longer be affiliated with Sears. [78]
It was also said that Citibank's owner, Citicorp, was not willing to accept the eventual estimated costs of establishing another national credit card, after Sears had spent an estimated USD$80 million creating its Discover Card. [4] Its fate was similar to that of Citibank's first credit card, the "First National City Charge Service" (or "The ...
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Sears began to face difficulties in the late 1980s in light of these developments, and with strong competition both from Walmart and from so-called category killers such as Toys "R" Us. Discover's introduction was costly; Sears's Discover credit card operations accounted for a loss of $22 million in the fourth quarter of 1986, and a loss of $25 ...
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A Sears Outlet store near Portland, Oregon, in 2017. An outlet version of Sears department stores located in various retail locations across the U.S., as well as online. The stores sell appliances, apparel, mattresses, sporting goods, tools, and lawn and garden equipment.