Which of these American companies was founded first?
Sears, Ford, Walmart or Harley-Davidson?
Sears, Roebuck & Company was founded back in 1893, making it the oldest company on this list.
AZUZ: From a mail order business that sold discounted goods to rural farmers in the late 1800s, to an extensive retail store network that helped furnished the suburban homes of World War II veterans, Sears grew to become like the Wal-Mart or Amazon of its day. It was once America’s largest retailer and business employer.
But the 21st century hasn’t been a good one for the company. Since shortly after it emerged with Kmart in 2005, Sears Holdings which includes the two companies has been on the decline. It had more than 350,000 employees in 2006. Today, it has less than half that number. It lost more than $2 billion in the fiscal year that ended in January and it hasn’t turned a yearly profit since 2010.
Now, Sears Holdings is telling investors it’s not sure if they can stay in business. It’s trying to get loans and sell assets, like its Kenmore Appliance brand. And Sears says it believes it can still turn things around. But because its future is in doubt, shares in the company on the stock market took a hit yesterday.