Sears closure count increases, including 10 hardware stores
According to an article in the Chicago Tribune, the closing of 43 Sears hometown dealer stores and 10 Sears Hardware stores are planned for the first half of 2012.
The latest revelation on Sears’ plans to cut its expenses and transform its business came from its annual report, which was released late Wednesday.
In a filing, Sears said: “We will continue to invest in our online properties. By integrating our vast store network with our online properties, we believe that Sears Holdings will succeed in the rapidly evolving retail environment. The Web and mobile platforms integrate shopping and marketing in a very different way than stores and traditional media have in the past.”
At the end of 2011, Sears has 2,172 Kmart and domestic full-line stores and 1,338 specialty retail stores in the United States operating through Kmart and Sears, and 500 full-line and specialty retail stores in Canada operating through Sears Canada, a 95%-owned subsidiary. The company said it plans to close 173 stores and change the format of eight stores in the first half of 2012.
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Sears loses another appliance merchant
Dev Mukherjee, president of the home appliances business at Sears for the past 16 months, has departed the company, according to an article in the Chicago Tribune. A replacement will be named “in a few weeks,” according to a Sears spokesman.
Mukherjee is the third head appliance merchant to leave Sears in four years, according to the newspaper. He joined the company in 2007 as senior VP innovation before being named as president of toys and seasonal business in 2009. Mukherjee is a former marketing executive at Microsoft Corp. and IBM.
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WOLF creates new division
Building material supplier WOLF created a new division to be called Wolf Home Products and to be lead by Craig Danielson.
The new division focuses on sourcing and selling U.S.-made products for professional contractors and serious do-it-yourselfers. The division oversees several existing lines: Wolf Classic Cabinets, Wolf Deck & Porch, Wolf Trim & Moulding, and Wolf Bath Furniture & Vanity Tops.
As part of the launch, the new division also unveiled a new logo and new tagline, “Real Performance, Real Value.”
Wolf Home Products has also developed a new web site, www.wolfhomeproducts.com, providing product imagery, detailed descriptions, and information for consumers and builders – an effort to support the sales efforts of independent dealers.
Craig Danielson, president of the Wolf Organization, will serve as president of the Wolf Home Products division.
“The new division better aligns our company’s structure with a significant opportunity for growth from Wolf-branded products,” Danielson said. “At the same time, it enables us to develop and source products that complement the products WOLF distributes for our manufacturer partners.”
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