After hundreds of store closures and a bankruptcy revival, Sears Holdings Corp. (OTC: SHLDQ) will open three new “Home & Life” stores in May. The battered retailor aims to reclaim shoppers through small-format stores located in Anchorage, AK, Lafayette, LA, and Overland Park, KS. Locations will range in size that varies from around 10thousand square feet to as much as around 15 thousand square feet. A typical Sears store averages around 150 thousand square feet.
According to the chief brand officer at the Sears and Kmart, Mr. Peter Boutros stated about this current opening of the firm that: “We are here to serve these networks, and this is a piece of our procedure to keep up a nearness in business sectors where we have right-sized our impression. Burns Home and Life underpins our vital arrangement to turn into a more grounded, increasingly productive business and these test stores will empower us to learn and improve as we push ahead,”
Sears Home & Life stores will focus on selling major appliances, mattresses, small kitchen appliances and smart-home products. Stores will also offer a variety of services including appliance repair, free store-pickup, and a “welcome desk” where customers can consult with experts about home improvement.
Sears Holdings, which owns Sears and Kmart, filed for bankruptcy protection in October last year. Sears later accepted a USD 5.2 Billion takeover bid by Chairman Eddie Lampert to save the Company. Lampert said shrinking the size of existing Sears stores along with enhancing the Company’s loyalty program should help the struggling retailor stay relevant.
Sears Holdings currently operates just 220 Sears and 205 Kmart locations. The companies had 3,500 stores between the two upon merging in 2005.
This would open the doors to broader horizons for the firm opening the gates to newer markets and much more advanced level opportunities to establish a better place in the industry.