In 1886, Richard Warren Sears, then a rail industry worker living in Minnesota, received word from a jeweler in Chicago of an unwanted batch of watches for sale. The budding entrepreneur purchased the watches and sold them for a profit, repeating the process until he was able to expand to a catalog business with a wide range of products. Since that time, Sears has become on of the largest retail stores in the world with annual earnings of over $20 billion.
Sears seeks to build lifelong relationships with customers but promising high-quality products and services at low prices. Officially, the company promotes the values of "honesty, integrity, and the highest ethical standards." Sears acknowledges it is a very competitive company, but mandates employees act within a strict ethical code.
What makes Sears' unique?
Though it has struggled in recent years, Sears is one of the longest-standing retailers in the world. Over the years, Sears has introduced, owns, or has made famous familiar brands like Allstate Insurance, Craftsman Tools, DieHard batteries, Discover Card, Gold Bond, and KMart Stores.