Sears to launch smaller stores than its regular outlets for home goods
Category: #retail  By Pankaj Singh  Date: 2019-04-06
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Sears to launch smaller stores than its regular outlets for home goods

Sears will also expand its DieHard automotive brand into new categories, including garden and lawn equipment, to put in the Home & Life shops.

The US-based retailer Sears, which barely survived bankruptcy and closed hundreds of stores, has reportedly announced that it would open much smaller stores than its regular outlets. The new stores will be named Sears Home & Life. The area of the stores will be 10,000 to 15,000 square feet, rather than the typical store area of 160,000 square feet. The retailer will emphasize on selling home goods like mattresses and appliances instead of apparel.

According to CNBC, Sears will open three stores in May in Lafayette, Louisiana; Overland Park, Kansas; and Anchorage, Alaska. Sears will also expand its DieHard automotive brand into new categories, including garden and lawn equipment, to put in the Home & Life shops.

Peter Boutros, Chief Brand Officer, Sears and Kmart reportedly noted that Sears Home & Life will support the company’s strategy to be stronger and more profitable. The small test stores will help the company to learn and improve while moving forward, he further added.

In February, Sears emerged from bankruptcy and revitalized the 133-years-old brand. The sale of most of the assets of the company was approved by a bankruptcy court. The assets were sold to Eddie Lampert’s hedge fund for $5.2 billion. The decision allowed the department stores chain to continue operations at 425 stores and saved the jobs of around 45,000 employees.

The retailers in the market have seemingly narrowed their footprints. Target (TGT) has reportedly opened 30 small stores of one-third the area of regular stores. The stores have been opened in several cities including New York, Washington DC and Los Angeles.

With launch of the smaller stores, Sears will also focus on its “Shop Your Way” customer loyalty program. The company anticipates raising $650 million in next three years from real estate sale.



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Pankaj Singh

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Pankaj Singh

Pankaj Singh Develops content for Market Size Forecasters, Algosonline, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

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