Financial Statements

Sears, a 121 year old company, was founded in 1886 by Richard W. Sears. Richard was a railway worker whose knowledge came from reading business books while working at the railway. His big break came when a shipment of watches came for a jewelry store that refused the watches. He took this opportunity, bought the watches from the wholesaler, and started to stoop a profit. Thus the beginning of Richardss new company, based in Minneapolis, was known as the R.W. Sears Watch Company. The following year Richard displace an ad in the Chicago Daily News for a watch repairman: answered by Alvah Roebuck. (Sears Brands, 2007) In 1893 the official corporeal name became Sears, Roebuck and Company. Sears, whose only major competitor is Montgomery guard who had based addressing their products to the to a greater extent upscale population, had now realised a catalogue to prove they are honest and much reputable than Montgomery Ward. With testimonials from customers, by 1894 a 322 pg catalog was launched to all(prenominal) rural areas where Richard had established his customer base; the farmer, the coalmine worker, and ordinary people. The catalog war with Montgomery Ward was now at an end. By 1900 Sears had generated sales of $10,000,000.

(Liggett, 1997) The early history of Sears is fraught with mixed emotions. By 1995 Alvah Roebuck leaves the company and is replaced by Julius Rosenwald who has now become Richardss new pecuniary partner. At this point the central location for Sears became Chicago, a more central location and a better way to postulate with Montgomery Ward. Rosenwald began leading Sears in a new delegacy; a way that began with not what do we have to sell but what do the customers want. (Liggett, 1997) This new way of thinking contrasted with Richards mastermind of free wheeling huckster ways (Liggett, 2007) and lead to delight guaranteed or your money back a slogan that Sears would dead end by for many years. With the inception of Julius... If you want to get a full essay, order it on our website: Orderessay

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