The online furniture retailer is joining J.C. Penney in turning to appliance sales, as once-formidable Sears shrinks.
One analyst is beginning to doubt whether Sears Holdings will ever be profitable again.
The maneuver gives Sears a break from paying into pension plans as the struggling company reports that same-store sales plummeted 15.3%.
Sears struck an agreement with insurers of its underfunded pension fund — Pension Benefit Guaranty Corp. — to allow for the sale of 140 Sears properties.
The retailer described the article about its financial troubles as “yet another rehash of inaccurate assertions and negative speculation about Sears Holdings and its future.”
Sears is promising discounts ranging from 10 to 50 percent at Sears stores, and 10 to 40 percent at Kmarts.
Given its struggles, who could blame Sears for taking a trip back in time with the revival — in print and online — of the holiday-themed book.
The move by the home improvement retailer represents further erosion of a historic Sears strength, as well as an advantage over rival Home Depot.
The manufacturer “has sought to use its dominant position in the marketplace to make demands” that put Sears at a pricing disadvantage, the retailer said in a note to employees.
“The entire Sears business declined over time,” Whirlpool CEO Marc Bitzer said on a call with analysts and investors.