Sears set to open first batch of smaller stores
NEW YORK (AP) - After its journey through bankruptcy, Sears is getting ready to open its first batch of smaller stores focusing on appliances, mattresses and home services.
The first three stores called Sears Home & Life will open Memorial Day weekend. They are a fraction of the size of the company's traditional stores. Peter Boutros, chief brand officer for Sears and Kmart, declined to say how many of the stores are in the works but said locations have been identified. He says the new stores will not take the place of the remaining 425 stores.
The openings come nearly two months after Sears Chairman Eddie Lampert bought the Hoffman Estates, Illinois-based company for $5.2 billion. Lampert is restructuring the business but Sears' long-term survival remains an open question.