They have a lot of payroll and a failing program. They still can’t get the basics right. When will this program die?
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SYW is a popular points program from one of the most beloved retail brands. Even though Sears is going through a rough time, it isn’t its first, and the points have exceptional value at a number of retailers in addition to Sears and Kmart.
The owner of the company is too smart and crooked ; to lose his own money to the bankruptcy courts. He did not care as much when it was share holders, stock holders, investors, and vendors money at risk. He will sell what left with value off little by little for many years so he can get huge tax breaks for not making a profit. Still lots of value left in the shell of sears.
All that data will be sold during bankruptcy like what happened with RadioShack.
With a store count lower than Flo Rida's 2008 hit single, SYW is basically pointless
How do you pay the Sears SYW MasterCard bill when there are so few stores left to make your large cash payments from the dr-g deals and illegal businesses you run. (excuse me cough, cough, that $2500 cash payment is from legitimate sources, right 🙄)
Is SWY available to use at Sear's Mexico stores?
Lots of people use SYW rewards/points. Just ask the 1,000 or so fake customers I enrolled in order to make metrics
SYW credit card, I still use it a lot
I use the syw Mastercard daily but wouldn't use it all if syw program shut down. I usually get about $300 on syw points a year and then just cash them in on giftcards for other retailers.
In 2018, Citibank paid Sears $425 million to continue the SYW Mastercard agreement. It was a d-mb decision for Citi, given Sears Holdings was spiraling toward bankruptcy. To meet the terms of the contract, Sears has to keep the SYW program going, even though revenue today would be a fraction of what it was in 2018. Citibank is still trying to make some return on investment by sending promotional deals to cardholders and adding different ways to cash in points.
SYW of course is going to fall apart eventually, along with everything associated with Sears. Citibank will likely transition "members" over to another credit card. The data from a failed retailer isn't going to have value.
SYW makes money off of data collected so it will be around for a while.
When the owner, Lampert, Edward Scott, says so. Don't equate common business operations like expenses and income with any decisions that he makes. Have you EVER seen such a thing during the past 20 years he's been involved with Kmart/Sears? Of course not.
They need it to keep their SYWR credit program going.