Retail rebirth? After hundreds of store closings, Sears is opening new stores
The long-struggling retail giant is debuting a new concept in three new locations
Afters years of financial struggles and hundreds of store closings, Sears is making a comeback attempt by opening three new locations under a new concept.
The new small-format Sears Home & Life stores will focus on selling appliances, tools and other hard goods, according to the Wall Street Journal.
The three new locations will open in May in Anchorage, Alaska, Lafayette, Louisiana, and Overland Park, Kansas. The new Home & Life stores will range from 10,000 to 15,000 square feet — a tenth of the size of a typical Sears store. The retailer also plans to convert three smaller stores it opened in 2017 to the Home & Life format, according to the Journal.
“This is part of an overall strategy to revitalize Sears,” said Peter Boutros, Sears and Kmart’s chief brand officer. “We want to be the go-to destination for appliances, mattresses, repairs and maintenance of all your household needs.”
Sears Holdings Corp., which owned Sears and Kmart, filed for bankruptcy in October. A judge in February approved former Sears Chairman and CEO Edward Lampert’s $5.2 billion takeover of the company, staving off liquidation of the troubled retailer and saving 220 Sears stores and 205 Kmart locations.
The new Home & Life stores will also sell mattresses and lawn and garden equipment. They will also have an in-store kiosk where shoppers can order Sears and Kmart products online. [WSJ] — John O’Brien