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 ...
Whatever. My sister-in-law has bought Kenmore appliances since she got married, almost 30 years ago. I don’t know if it was a warranty or just the guarantee that comes with the appliances, but her Kenmore refrigerator died. When she called the service number she was told it would take 2 weeks before they could get somebody out to check it. She ended up swearing off Kenmore appliances permanently and went to Lowe’s Home Improvement.
Craftsman committed brand suicide, along with snapon, when they sent production to China. Not all but most.
Awe heck, start making the Kenmore, Diehard and Craftsman products here ( I know the tools aren’t done here anymore ) and downsize to those products only that we know and love and grew up with and I’d be fine with “Sears USA”...
Sears also announced that it will borrow another $300 million from the hedge fund controlled by CEO Edward Lampert.
I’ve thought Sears offers nothing unique at high prices for a while. I hardly ever shop there.
Craftsman will get picked up....just don’t change the name....or warranty
Apparently it’s newsworthy that they now sell HD TVs.
That’s a company way, way behind the curve.
Here’s my prediction. If someone buys the Kenmore, Craftsman or DieHard brands, they’ll turn it into junk. Keep the name, reduce the quality.
So many American brands have gone that route. At one time their names meant something. Not anymore.
I thought Kenmore and Craftsman were just other names for K-Mart.
Sears went out of business here (as well as K-Mart) so I really don’t know.
Kinda sad.
But Sears was generally always overrated.
Craftsman was great. That was it.
Kenmore stinks. Somehow even though Sears simply steals designs from the “brand” company, it never works as well as the original “brand”. Now don’t get me wrong, I’m stuck with some Kenmore and they’re OK, but largely they are nothing fantastic.
OTOH, I still would hate to see them go. Too much a staple of life.
Truth is that K-Mart bought Sears, not the other way.
However, indeed many of their places have disappeared, regardless.
Who cares? Sure i got my school clothes from sears in the 70s. But if cant keep up then you lose.
“Cheap Everything” should have been their mission statement.
Aren’t Kenmore / Craftsman the only things worth buying at Sears?
This looks like a giant leap towards the end of the line.
I think Craftsman was the first with the push button socket release. Now just about all socket wrenches have that very useful feature.
When the mortgage is due and you’re down to the last $2.98 in the checking account, you sell a kidney.
I’m a pretty good, but amateur mechanic. Always bought Craftsman because of the warranty, but I’ve watched the quality slip over the years.
I’d consider Mac or Snapon, but they don’t exactly make it easy for consumers to buy, and I could rarely justify the prices they want.
Been starting to consider Kobalt at Lowe’s, but haven’t tried them yet. Lifetime warranty and stores are everywhere with convenient hours.
Anyone have any other recommendations?
I used to buy Kenmore, primarily for the parts availability, until the internet came along and I saw how much Sears was marking up the same parts that any appliance part dealer sold. Then I noticed every brand was basically slapping their emblem (now sticker) on the same guts everyone else is using. You can guess what that did for my brand loyalty.
Kenmore. Diehard and craftsman -— three formerly star brands. Major reasons customers patronized Sears. Big big mistake to undermine the brands. We recently walked through big nice Sears store. Found nothing we wanted to buy— or at least not at their pretty- high prices. Bought lots of stuff elsewhere. Non- distinct nothing- special merchandise at full department store prices — not a formula for success. To succeed, they gotta offer at least one or the other -— more desirable distinctive merchandise or low prices
Sears recently emailed me a coupon for $10 off my $30 purchase.
That’s a pretty good deal, so I made a trip to Sears.
Wandered around the store for half an hour. Did not see a single thing that I wanted to spend $30 on.
I still would hate to see them go. Too much a staple of life.”
Everything we had when I was growing up came either from Monkey Wards or Sears. Passing of good times.
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