Ah you touched on one of the reasons for their downfall and didn't know it! The credit card thing, before MasterCard and Visa the Sear's card gave them an advantage, if you put it on your Sear's card and made monthly payments they could sell you the product at a loss and still make money. All that money coming in in interest was just to darn juicy for them to ignore and eventually they became more interested in being a "financial services provider" than a retailer, heck it was more money, less work and less exposure on liability. They became less focused on the products and markets for them and more on the loaning of money. It would even follow that they located their stores in areas that would have a larger percentage of credit sales which might indicate they were putting stores into or not moving stores out of marginal areas. We can armchair quarter back here but the simple fact that whether you like them or not Walmart sprouted up under the nose of Sears & Roebuck, as did Home Depot, Staples, Lowe's, Best Buy, Carmax, Amazon, Fastenal and Costco. If they would of kept their eyes focused on retail they might of captured some of those opportunities and still had profitable retailers in their portfolio making maximum use of their logistical infrastructure. My only question is when Sears holdings folds what happens to Lands End?
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
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