Fortune USA 201906

SE VEN

DEC ADE S

OF SEL F -

DESTRUCTION

Sears’bankruptcy filing

last year sparked torrents

of criticism for its current

leaders. But the problems

that brought down this

former Fortune 500 stalwart

date way back to the

Eisenhower era. Here’s what

leaders can learn from an

icon’s slow-motion collapse.

By GEOFF COLVIN with PHIL WAHBA

sears holdings

n. a. –37.2%

TOTAL RETURN TO SHAREHOLDERS

REVENUES (2008–2018 ANNUAL RATE)

$13.2 BILLION

500 R ANK

– $1.7 BILLION

PROFITS

89,000

EMPLOYEES

*SEARS HOLDINGS FILED FOR CHAPTER 11 BANKRUPTCY 10/15/18.

REVENUE AND PROFITS ARE FOR THE 12 MONTHS THROUGH 10/31/18.

EMPLOYEE FIGURE IS AS OF 1/31/18.

*

PHOTOGRAPH BY MIKE SEGAR—REUTERS