- Sears has announced its Black Friday plans, which means instituting deep discounts. Some items will be up to 50% off. This comes amid other holiday plans, like bringing back its famous Wish Book. The company is still searching for a turnaround as it struggles.
Sears is trying to make a splash this holiday.
On Wednesday, the retailer began putting its entire store on sale, CNBC reported. Discounts range from 10-50% at Sears stores and 10-40% at Kmart stores. Each category of the store is discounted at a different percentage, and nothing is excluded.
The sales, which run through Thanksgiving weekend, are intended to help shoppers avoid the Black Friday rush, the company said.
Sears is looking for ways to turn around its struggling business. Its ambitious discounts are just one part of its holiday plans, which also include relaunching its seasonal Wish Book, a former icon of Sears’ golden era.
Sears continues to close stores – 238 Kmart stores and 98 Sears stores this year – amid slowing foot traffic and stiff online competition. Sears now has 1,140 stores, down from 2,073 five years ago.
Just this week, Sears’ CEO Eddie Lampert lent the company $60 million from his personal hedge fund.