Report: Sears Readies Smaller Format Stores

Sears is gearing up to open its first set of smaller format stores, dubbed Sears Home & Life, according to a report in the Washington Post. According to the report, the stores will open doors by Memorial Day 2019.

The stores have a smaller footprint than the current retail locations, ranging from 10,000 to 15,000 square feet, the report said. The company said that the first rollout of stores will be located in Overland Park, KS; Lafayette, LA; and Anchorage, AK. There is no further information about how many stores the company plans to open and run with this format after the initial rollout.

“We need to instill confidence that we are open for business,” said Peter Boutros, chief brand officer for Sears and Kmart in an interview with The Associated Press.

Additionally, the retailer noted that it will be ramping up advertising efforts.

Edward Lampert, former chairman of the board at Sears Holdings Corp., acquired the retailer out of bankruptcy through an affiliate of his company, ESL Holdings. An affiliate of ESL, Transform Holdco LLC, acquired the company on a going-concern basis for approximately $5.2 billion.