The Economist (US), August 5th, 1989
A tall tale
SEARS, ROEBUCK, America's biggest retail chain, has not been doing well. Stagnating sales, falling profits, a not altogether profitable diversion into financial services--all are signs of a retail group that has been losing out to brasher newcomers. Last autumn Sears adopted a new strategy that has yet to prove itself. It lowered the prices in all its shops. It palns to slim down its non-retail activities and ot cut its staff. And it is cashing in one of its biggest investments by selling its flagship headquarters building, the Sears Tower in Chicago.
The 1,454-foot tower was c...
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