Sears is founded by Richard Warren Sears and Alvah Curtis Roebuck
Richard Warren Sears
The first Sears catalog was published in 1888
The Sears catalog had grown to 532 pages with sales of $750,000
Due to the national Panic of 1893 – a full scale depression – large quantities of merchandise went unsold. Roebuck decided to quit and sell his half of the company to Chicago businessman Aaron Nusbaum for $75,000.
Sears opened its catalog plant and the Sears Merchandise Building Tower in Chicago.
Under Julius Rosenwald’s leadership as Vice President and Treasurer, annual sales grew to $50 million.
Sears began opening urban department stores
Sears made history when it completed the 110-story Sears Tower in Chicago. The tower became the worlds tallest building.
Sears terminated its famous general merchandise catalog because of sinking sales and profits.