Sears Holdings Corp. is expanding an outlet concept that, unlike some of the other strategies the company has, makes sense to expand in this environment. It recently announced plans to open a unit in Schaumburg, IL; replacing a Great Indoors store, and will open another one in Concord, NC, replacing a Kmart.
No major expansion plans were made public by the retailer, but the company currently operates about 100 of these stores, and it seems prepared to open more. For one thing, it seems like a good plan because these outlets are a good way to replace other concepts, like Great Indoors, that weren't performing well.
And we are assuming that the outlets, which sell discounted appliances, clothing and other items will do well in this environment. Other department stores, though on the higher-end scale, seem to think so. Neiman Marcus, Nordstrom and others are all expanding their off-price concepts.
Of course, that means there is a lot of competition out there right now in this arena. Do outlets seem like a good fit for Sears, or will the company have trouble executing the concept? And are any readers familiar with these stores as shoppers?
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