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 from 10,000 sq. ft. – 15,000 sq. ft. A typical Sears store averages around 150,000 sq. ft.
“We are here to serve these communities, and this is part of our strategy to maintain a presence in markets where we have right-sized our footprint. Sears Home & Life supports our strategic plan to become a stronger, more profitable business and these test stores will enable us to learn and improve as we move forward,” said Peter Boutros, chief brand officer for Sears and Kmart.
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.