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Segment 3 (The New Old Sears, Roebuck) #503117

NBC Evening News for Monday, Feb 05, 1979
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(Studio) Sears, Roebuck and Company's growth into largest retailer in world noted. Company's ups and downs in recent years reported.
REPORTER: David Brinkley

(Freehold, New Jersey) 1977 Sears television ad shown. Decision by Sears to change image and compete head-to-head with stores like J.C. Penney and K Mart noted. Sears Tower in Chicago mentioned. Founding of company by Richard West Sears and its growth outlined; is reported that at one time, some families had Bible and Sears catalog as only books. [Grace BOGART - describes lengthy purchase record with Sears.] Company's price-cutting strategy said failure because customers didn't like change. Details about Sears business since 1975 given; is said to have made more money selling Allstate Ins. than other prods. [WOMAN - asks about insurance] [MAN - answers.] Image, pricing and management problems described; Sears' refusal to grant interview for report mentioned. [Sears-watcher and Merrill Lynch representative Jeffrey FEINER - comments.] Company's return to old strategy cited; varying reactions to this noted. Employees concerns said evidenced by mass organized at Saint Malachi's Church in New York City when company decided to move fashion buying headquarters from New York City to Chicago. [Employee Dick LEWIS - comments.] Wall Street's uncertainty about Sears' return to old strategy reported
REPORTER: Mike Jensen

Reporter(s):
Brinkley, David;
Jensen, Mike
Duration:
00:04:50

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