How did the "Original Everything Store" go from the dominant force in American retail to a company with fewer than five stores left? In this episode, we dive into the 140-year history of Sears, Roebuck and Co. to understand how a mail-order watch business grew into a retail empire—and how it all came crashing down.

We cover:

• The Origins: How Richard Sears transformed a shipment of unwanted watches into a catalog business that became the "Consumers' Bible" for rural America.

• The Golden Age: The historic 1906 IPO, the shift to brick-and-mortar dominance, and the construction of the Sears Tower.

• The Slow Decline: Losing the top retail spot to Walmart in 1990 and the decision to kill the famous catalog in 1993.

• The Hedge Fund Era: The 2005 merger ...