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Sears announced Thursday its intention to open three new concept stores next month, after filing for bankruptcy in October and hundreds of store closures in recent years.
The company hopes that the smaller Sears Home & Life stores will take over part of the market where it has had its greatest success.
"The new Sears Home & Life stores will offer food categories where Sears has a real strength: home appliances, mattresses and home services," said Peter Boutros, Sears brand director and Kmart and brand president. Kenmore, Craftsman and DieHard said in a press release.
The stores are expected to open in May in Anchorage, Alaska; Lafayette, Louisiana; and Overland Park, Kansas.
What is the story?
Boutros told the Wall Street Journal that the former retail giant hoped to become the favorite place for durable goods, such as tools and appliances.
"This is part of a comprehensive strategy to revitalize Sears," Boutros said. "We want to be the destination of choice for home appliances, mattresses, repairs and the maintenance of all your home needs."
The average footprint of Sears stores that carry goods such as clothing, home furnishings and other products covers about 150,000 square feet, the Journal reported. The new, much smaller stores will be smaller than 10,000 to 15,000 square feet.
"We are here to serve these communities and this is part of our strategy to maintain a presence in markets where our footprint is the size. Sears Home & Life supports our strategic plan to become a stronger, more profitable company and these test stores. will allow us to learn and improve as we progress, "added Boutros.
Sears has also announced plans to convert three of its smaller current stores to the new concept.
What about bankruptcy?
In October, Sears Holding Corp., which owned Sears and Kmart, filed for Chapter 11 protection and closed more than 140 stores by the end of 2018.
In February, Edward S. Lampert, Managing Director of ESL Investments' hedge funds, finalized the acquisition of Sears Holding Corp. for about $ 5.2 billion, according to a press release.
The new Sears company, Transform Holdco LLC, has 223 Sears stores and 202 Kmart stores, as well as other assets including Kenmore, DieHard, Craftsman, Sears Home Services, Sears Auto Centers and Innovel.
Boutros told the Journal that he would soon launch his new digital, social and television advertising campaign to boost customer confidence.
"We need to convince customers that Sears and Kmart are there and open for the long term," he said.
What else?
Sears Home & Life stores will have kiosks that will allow shoppers to order a wide range of Softline products sold by Sears and Kmart.
In-store technicians will assist customers with repairs, appliance parts and accessories, as well as home improvement experts who can assist with products such as windows, roofing, kitchen cabinets and more.
It's also keeping his client reward program.
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