Former U.S. retail merchandising company.
It was founded in Chicago in 1872 by Aaron Montgomery Ward (1844–1913), who bought merchandise wholesale and sold it directly to farmers. He distributed the world's first mail-order catalog and offered a money-back guarantee. The company opened its first retail stores in 1926, and by 1930 retail sales exceeded catalog sales. It ended its mail-order business in 1985, and in 1997 it scaled back operations after filing for bankruptcy protection. Another bankruptcy in December 2000 caused the company to close its 250 stores and go out of business the following year. See also direct-mail marketing ; Sears, Roebuck and Company.