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 ...
Sears is still in business?
Also, since Ace Hardware sells Craftsman tools, I thought they that brand had already been acquired by Ace.
But they better bring back the quality to ALL of their stuff.
The Die Hard battery was the one sure thing in life.
Have used them for the past 40 years.
My parents had a washer and dryer from them that lasted ~30 years. They finally replaced the dryer after the ceramic coating on the drum had been worn off.
the plan must be to stay around long enough for the insiders/big investors to dump their shares off on the sucker investors and then dump any pension fund on the taxpayers.
(and sell any good parts to other cronies)
Sears has just be a break up happening at glacier speeds...
This Market Uber Alus hedge fund guy that bought them out, just doesn’t have a bloody clue about retail, and when he took over Sears still stood a chance for a turnaround... in the nearly 12 years since he has done just about everything wrong... he won’t listen to anyone with retail experience, and continues on this, let all the divisions fight for themselves market nonsense that doesn’t work.
At this point, Sears has long ago lost its identity, who honestly even thinks about going to sears other than folks who grew up doing it? If you took appliances out of their sales figures, I doubt you’d find much to even think about... just a few years ago Sears accounted for over 1/4 of all appliance sales in the US. IN 2002, they had 42% of the appliance sales in the US.
This Hedge Fund CEO guy they have is utterly inept... sadly Sears will be gone soon.
We have LG washer, dryer, stove and just today a new LG refrigerator and a Frigidaire dishwasher.
We had all GE before this and none lasted 10 years.
Before that we had Whirlpool, same story.
Maytag has gone downhill since Whirlpool bought them. They also own Kitchen Aid.
Frigidaire is owned by Electrolux, a European company.
Samsung has some great appliances as well, but they have had some problems with dishwashers.
Bought a Kobalt torque wrench a while back for work. Comes with a calibration cert and really nice. No complaints here.
Bump for later reading.
A marketing deal........
There is a factory in Taiwan which is producing tools for a lot of American brands. I can tell them at a glance because their ratchets all look alike no matter which brand.
Surprisingly they are of very decent quality. I ran into a clearance sale at a Wal-Mart where they had reduced a half inch socket set from $35 to $22 then $11 then they had a ten minute sale where everything on clearance was half price.
I bought 16 sets and have been using them as gifts etc. for at least 10 years.
Out of curiosity, I took a Mitotoyo electronic caliper and measured the post on all 16 of the 1/2 inch ratchets. I was pleasantly surprised when every single one measured exactly .499 inches.
Remarkable quality control.
I loved Craftsman Tools when I was younger, but for 20+ years now, their screwdrivers have been crap. I haven't bought anything new from them in over 10 years. What I have is good, but my Dad's craftsman tools are much better quality. He's given most of them to me over time, and you can see the quality difference.
How about : DUMP K Mart a looser
Dump any big box retail store that is not showing a PROFIT...But keep the appliance, auto, and Craftsman tool line...you could market them to other big box stores...Home Depot, Auto Parts chains , Lowes...
Freegards
LEX
He owns 26% of Sears Canada.
In the early 80s, I saw a news interview with the head of Sears. The interviewer asked him about expanding Walmart. At the time, Walmart had about 160 stores.
Sears had a store in nearly every shopping mall at the time.
The head of Sears retorted, “Who do they think they are? Sears?”
Taiwan has some excellent quality stuff.
The ChiComs do too, in places where they feel it is important.
They also make a lot a poor quality stuff.
Now that places like Vietnam and Indonesia are undercutting the ChiComs on manufacturing price, the ChiComs will move up the quality spectrum to try and hold market share.
Same here....been using Die Hard all my life. I’ve watched all their other products go downhill.
My Brothers and I divided up Daddy’s tools. A Sister got some of them too.
A lot of them were Snap-on. I have one of their ratchets and really don’t like it. I am sure it is durable but it is really coarse. I don’t know the exact angle but it is probably twice that of my old Craftsman’s.
Selling off assets in advance of closing down.
The Craftsman warranty was the best in the biz. Over a 15 year period I wore out two 100’ craftsman steel tape measures a year and had 30 replacements from one original purchase.
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