Chairman Eddie Lampert is now trying to turn around Sears with smaller format stores, online sales, and relying on their well known brands (Craftsman, DieHard, Kenmore). Keep in mind, since Lampert took over, he has seen 18 consecutive quarters of declining sales. Interestingly, Sears has reached agreements with Costco and and Ace Hardware to sell tools in these stores. They have gone as far as circulating a proposal to companies seeking interest in producing products under its brand names.
Since 2005, Sears has closed approximately 171 stores and Mr. Lampert is now opening smaller Sears Hometown and Sears Auto stores. With some significant changes, Sears online sales have also jumped about 30%.
The Wichita Eagle Article
I think Sears has lost its way. I go to a local Penney's store for men's clothing. Lot's of choices, large area of the store set up for men. I go to Sears, and the selection is abysmal, and small. I asked if I was missing something, and got an apologetic 'no', from a clerk. I tried, but there literally was nothing there to buy. Unless they invest in inventory, there is no reason for me to go there.
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