Posted on 08/26/2016 12:59:16 PM PDT by Hojczyk
Sears, which booked a 2Q loss, says a variety of companies are interested in the floundering retailer’s familiar appliance, tool and auto brands. More
Sears Holdings (NASDAQ:SHLD), which booked another loss in the second quarter, has received interest from a variety of companies eyeing the floundering retailer’s familiar appliance, tool and auto brands.
The Illinois-based company has grappled with challenges at Sears and Kmart, two chains that struggling to turn things around in a tough environment for retailers. Target (NYSE:TGT), Kohl’s (NYSE:KSS) and others have recently reported weaker sales as shoppers spend more online. Sears is facing some broader issues. The company has posted red ink for the last six fiscal years, and 78 additional Sears and Kmart stores will be closed by the end of the summer.
In May, Sears announced plans to seek out buyers or partners for its Kenmore, Craftsman and DieHard brands, hoping to unlock the value of three brands that are well-known in their respective categories. The company provided an update on Thursday, saying it continues to explore strategic alternatives for the brands—housed under a division known as KCD—and Sears Home Services. Sears is considering “potential partnerships or other transactions that could expand distribution of our brands and service offerings to realize significant growth,” the company said in a statement.
(Excerpt) Read more at finance.yahoo.com ...
Yep. It’s Crapsman now.
I haven’t been in one in probably 20 years, but the memories I have of them even back then are similar. Glaring fluorescent lights on dirty shelves stacked with dusty, laughably outmoded merchandise, and a few bored, dull-looking people standing around trying to look like they were doing something.
Craftsman is sold in both Sears and K-Mart (also, at least locally, in Ace Hardware)
Don’t buy anything new! New appliances are junk and will break down in a couple years. Repair the old if you can.
Spot on! Remember the Maytag repairman? They make crap now.
The only thing I have bought at Sears in the last 30 years is a Briggs&Stratton electric power generator.
I have a lot of Craftsman stuff from the 60s and then when I was working on Euro cars in the 70s I bought metric sets from Snap On. The Snap On sockets and wrenches have a lot of chipping on the chrome plating so they look pretty ratty, the Craftsman are dull and scratched but work fine and look better than the Snap On.
When I need stuff now I buy it from Harbor Freight at dirtbag prices.
sears and penneys thought the were big fish immune from going under no matter what.
Got a box of Craftsman tools about 40 years ago. Have only lost a few. Back in the day, they were the best for the back-yard mechanic when the others like Snap-on were too expensive. And the Craftsman brand stood for quality. But that was back in the day.
We bought a Maytag refrigerator a couple of year’s ago at Sears, but it was a Whirlpool design. It’s worked perfectly. Maytag quality had deteriorated badly before Whirlpool bought it, and the company was on the brink of extinction. Whirlpool bought Maytag for the brand name, and then promptly closed most of the old, inefficient Maytag factories, IIRC.
Just another symptom of a dying country...
Just another symptom of a dying country...
I bought my first Craftsman tools the Summer of 1969. It was the Sears store in Asheville, N.C. It was a simple set of 1/2 inch sockets with a ratchet. Nothing else but a spark plug socket was also included. May have been one extension.
One good thing it included was a polyurethane case which held quite a bit more.
I was working at a Summer retreat and that was all I could afford.
Later that Summer, I added a universal joint, and a couple of extensions. Now I have more tools than I will ever use and that is after giving away a bunch to my Son-in-Law and Grandson.
K-Mart bought out Sears...most people don’t realize this...they think Sears took on K-Mart.......they do so hoping to revive the K-Mart chain from it’s fall....it didn’t work.
Now they’re both going down.
Sears should have never let K-Mart purchase their chain .
K-Mart hoped to revive it’s dying company by purchasing Sears. Instead it’s taking it down with them.
K-Marts CEO has no concerns the company fails...he’s just riding it out. I worked their ‘briefly’...oh my gosh what a zoo! Saw the entire Pizza Shop crew walk out and quit...they hired another crew and they quit too!..In less than 3 months.
We have a zombie K-Mart in our town.
You go in there, the place is open, lights on, fair amount of “stuff” for sale, but no people. Maybe 4 or 5 employees in the entire store.
It’s gone on like this for a decade. Amazing.
The most valuable asset that Sears had was its property. I think that was the main reason K-Mart bought it. That deal was a real estate play. It’s obvious that k-Mart has no interest in running Sears as a going concern. At many mall locations, Sears owns the building and the land it sits on, not the mall owner.
My Dad bought nothing but Craftsman until they went Chinese on him. Now he buys Husky the same company that made Craftsman in the USA.
when I worked construction all the carpenters had Craftmans tapes...
if they broke it they got a free one
But Sears sold them a lot of other tools
YEA ! :) I meant late 1970”s
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