By Lisa Johnston
New products on display at the American International Toy Fair, held in N
Hoffman Estates, Ill. – Sears Hometown Stores will mark the 20th anniversary of the folding of the fabled Sears catalog with a special weekend promotion this month.
Hometown, a specialty chain spinoff of Sears Holdings, was born out of the “Big Book’s” closing in 1993, when Sears also pulled the plug on some 2,000 catalog stores. The company allowed 122 independent owners to continue representing Sears under the Hometown badge, which has since grown to more than 900 dealer store locations.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.
Updated! Hoffman Estates, Ill. - Sears Hometown & Outlet Stores, the smaller-format specialty chain spun off last year by Sears Holdings, said it has opened its first three franchised Outlet stores and is looking to sell additional locations across the country.
The company later retracted its announcement without explanation.
Hoffman Estates, Ill. — Sears Hometown and Outlet Stores posted disappointing first-quarter results following a promising first-year showing.
Net income for the three months, ended May 4, fell 27 percent to $15 million, net sales slipped 3.2 percent to $601.1 million, and comp sales declined 5 percent year over year.
Hoffman Estates, Ill. — Sears Holdings heralded its marketing tie-in with the forthcoming movie “Man of Steel” by hosting the largest ever gathering of people dressed as Superman.
The event, held here earlier this week, drew 566 costumed employees, earning Sears a Guinness World Record.
The retailer’s marketing pact with Warner Bros. Pictures includes a free Superman comic book, a sneak peek at film footage and a “Man of Steel” sweepstakes, which are all exclusive to members of Sears’ “Shop Your Way” loyalty program.
Hoffman Estates, Ill. – Sears Holdings has formed a new business unit to convert shuttered Kmart and Sears stores into data centers, disaster recovery space and cell tower bases.
According to a report by Data Center Knowledge, the new division, dubbed Ubiquity Critical Environments, will retrofit its first Sears store this summer as a multi-tenant data center on Chicago’s South Side.
As you have read, Sears Holdings lost $279 million in its fiscal first quarter. It is a major loss in a string of many for the retailer that operates Sears and Kmart.
While we don’t wish this on any company, this has to beg the question: “What happens if Sears goes away?”
Hoffman Estates, Ill. — Sears Holdings returned to the red last quarter with a $279 million loss vs. year-ago profits of $189 million, and is looking to sell off its in-house extended-warranty business to boost liquidity.
Net sales for the three months, ended May 4, fell nearly 9 percent to $8.5 billion, and U.S. comp sales slid 3.6 percent.
Hoffman Estates, Ill. — Sears Holdings will launch a rent-to-own leasing program for CE, majaps, mattresses and other big-ticket items this week, and has renewed efforts to sub-lease space in and around its stores.
The rent-to-own program is managed by WhyNotLeaseIt, a national leasing service, and will be rolled out to all 900 U.S. Sears stores on Wednesday.
Hoffman Estates, Ill. — Sears Holdings has appointed Jeff Balagna executive VP and chief information officer.
Balagna joins Sears from Eli Lilly, where he held the same post. In his new role, he will be responsible for all technology and infrastructure initiatives within the company’s support centers and stores.
“Jeff is a proven executive with an analytical approach and experience in transforming complex organizations in rapidly evolving industries,” said Sears chairman/CEO Edward Lampert.
Hoffman Estates, Ill. — Sears Holdings chairman/CEO and majority shareholder Eddie Lambert reiterated his focus on multichannel retailing and the company’s Shop Your Way loyalty program at the company’s annual meeting here yesterday.
In his first shareholders address as CEO, he echoed his conviction that integrating the retailer’s online, mobile and brick-and-mortar platforms, and leveraging its membership rewards program, are key to the company’s turnaround.