In random news, lawsuits have been filed against the chain 99 Cents Only stores, "alleging that the chain's move two years ago to raise its top price to 99.99 cents constituted an unfair and deceptive business practice". Pretty funny...
Anyway, moving on to our main story, the 100th Sears Outlet store has opened. There are (supposedly, according to SHLD) around 300 more of the small-format stores (such as Sears Outlets, Sears Hometown Stores franchises, Sears Hardware, Sears Home Appliance Showrooms, Lands End, The Great Indoors) than the traditional mall-based main Sears stores, which have already dipped below 1,000 in number in the good ol' USA. Not sure if these numbers include things like Sears Auto Center or Sears Optical stores that are basically part of a main Sears, but in general information about the various aspects of Sears family like their commercial or home repair/parts services is kind of vague. It's promising that Sears has an arsenal of smaller formats to try to compete in various niches (and bold online attempts), but also unclear the degree these will succeed, if they actually do.
Press Release Excerpt: For more than 40 years Sears Outlets have been providing customers with unparalleled value and savings on some of the best brands in appliances, home electronics and more. Today, Sears Holdings Outlet store organization announced the opening of its 100th store at 1321 East Golf Rd. in Schaumburg, Ill., in the former The Great Indoors location.
The outlet will feature some of the best names in appliances, tools, fitness equipment, mattress sets, lawn & garden, and more at discounts of up to 60% off. The Schaumburg outlet will also carry Sears apparel at 60-80% off the retail price.
"Sears is the leading retailer for washers, dryers and refrigerators in the country," said Jaime Brooks, vice president and president, Sears Outlet. "Our stores provide a great format for shoppers to buy nationally recognized brands that help improve home and family life at significantly reduced prices while still receiving the customer service, access to the same warranties and credit solutions offered at Sears' full-line stores."
Sears Outlet will also be opening additional locations in Concord, NC and Norfolk, VA throughout the remainder of 2010.
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