– The comeback retailer, from the edge of extinction
By Jamie Barrie
“We are here to serve these communities, and this is part of our strategy to maintain a presence in markets where we have right-sized our footprint,” Peter Boutros, chief brand officer for Sears and Kmart, said in a statement. “Sears Home & Life supports our strategic plan to become a stronger, more profitable business and these test stores will enable us to learn and improve as we move forward.” Earlier this year, Lampert said he thought Sears could one day be a public company again. As the company emerged from bankruptcy protection, he said he wanted to focus on smaller-format loca- tions and the company’s “Shop Your Way” loyalty program. It remains to be seen if his efforts will prove suc- cessful for Sears and if the former giant can earn the title as the comeback retailer for 2019 and build the brand back from the edge of extinction.
After filing for bankruptcy, Sears is now referred to as “Transform Holdco,” until it announces a new name for the company, and will start to open new stores to add to the current 220 Sears and 205 Kmart locations. It is said that the new locations will start opening this month in Anchorage, Alaska; Lafayette, Louisiana; and Overland Park, Kansas under the “Sears Home & Life” brand which are smaller in size around 15,000 square feet, much smaller in size than a traditional Sears store which can be larger than 100,000 square feet. The former retail giant, is getting another shot at life after filing for bankruptcy protection in October, still sees a chance to be a shopping des- tination for hard-line goods like appliances, tools and mattresses. The retailer has also said it will be expanding its DieHard automotive brand into new categories, including lawn and garden equip- ment.
JUNE 2019 • SPOTLIGHT ON BUSINESS MAGAZINE
SPOTLIGHT ON BUSINESS MAGAZINE • JUNE 2019
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