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.
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Two of my FAVORITE brands!
Actually both are one of the few who actually makes GOOD products anymore.
Still using the complete Craftsman 3/8 and 1/2 inch socket sets I bought from Sears in 1973 when I was starting out as a field service engineer. The 3/8 ratchet pawl slips a bit, but, other than that, all in as-new condition! Really remarkable.
They did, well they stole the design from someone. Got caught and had to pay the original designer $16,000,000. This was back in the late1070's.
Since I was a blushing bride decades and decades ago all my appliances have been Kenmore no matter where I moved. My kitchen and other appliances today are still Kenmore. They have all worn like IRON.
Any minor repairs have always been promptly and perfectly carried out by Sears' skilled repair crews.
Although I have known the company's downfall was and is inevitable, this knowledge gives me the real blues in a big way.
It's not like most other big companies going under...while you were growing up and when you became an adult homeowner Sears was always somewhere in your house just like a member of the family.
....and the wishbook catalogue....
(....gloom)
Leni
I’ve got a Kenmore water heater that must be pushing 30 years old. It’s covered with rust but still going strong. I reckon I’ll have to replace it someday.
I don’t know where your sister-in-law lives, but where I live in Georgia, a Sears-branded repair service is about the only company that will make house calls to fix appliances, and they will work on any make.
The warranty may be the same, but Craftsman tool quality isn’t what it used to be.
For decades, most Kenmore appliances were made for Sears by Whirlpool. In recent years, the Kenmore brand may actually be an LG or Electrolux, not necessarily a bad thing.
She lives in Georgia, too. North of Atlanta. This was about 3 years ago.
Kenmore has always just been a nameplate that Sears used, in partnership primarily with Whirlpool. In recent years, Kenmore products have also been made by LG and Electrolux, not necessarily a bad thing. Our kitchen range is Electrolux and it is quite nice.
I agree Leni.
What I would urge Sears to do, if it wishes to continue to be a national entity, is start selling on E-Bay like a lot of other businesses do.
Craftsman was a great product. Not sure if it still is, but I wouldn’t refuse to join the 21st Century and die.
We used to get the Sears and J. C. Pennys catalogues Those things were great to look through. I was always looking at various gadgets in them.
We have a five-year-old Kenmore kitchen range that was made by Electolux. It’s excellent. Some of the Whirlpool-made appliances from a few years ago were poor quality when Whirlpool was having problems at one of its factories.
My parents had a set of washer stock from Westinghouse, when it was stupill all e same company as my dad’s employ. My sister and I bought them a new set finally because the rust situAtion was getting ridiculous after 30 years. Otherwise they were great (not counting the jerry-rigged dryer door we jammed closed with a broom for 15 years as the clip broke).
Mom still has her Sunbeam toaster feom the ‘50s and electric Sunbeam skillet from that time. Of course lots of Revere wear. I love them so much I will look on-line for old working pieces.
BTW, one of the last things from W I bought myself, a vacuum in the ‘90s. Wow, that thing was jaws!
bbb
My observations:
LG appliances and TVs are excellent.
Electrolux appliances are excellent.
Maytag was going downhill before Whirlpool bought them. I think Whirlpool actually rescued the brand.
My in-laws bought a GE washer three years ago when furnishing their retirement home, thinking they were buying the same quality they did 40 years ago. The transmission on the washer went out last month.
IMHO: Sears died when Kmart came into the picture.
I grew up a loyal Sears customer. Nothing Craftsman tools, and lots of them. Often Kenmore appliances.
Now it’s what ever Walmart or a building supply store sells.
Sears cancelled lifetime warranty on many tools years ago, which is one reason. Another is a tiller I bought in the 90’s. It was used, painted up as new, and sold as new. They refused to honor the warranty. Had to go to file a consumer complaint with the atny general to get satisfaction.
Seldom go there anymore. Besides, just about any brand now days is the same as the other.
I was still buying big ticket items there until a few years ago (no tools any longer) but the last time I was there two employees tried to sell me an extended service agreement.
Somehow I got passed to a third who made the same pass.
I told him I wasn’t interested. “Don’t you even want to hear about it?” whines the peeved register puncher.
“If you don’t want to blow this sale (snowthrower I believe) you won’t say another word.”
Yeah, I know they were pressured to push the things, but he had a to bitch a few more words and that was that for Sears and me.
Just after the Battle of Hastings in 1066 :)
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