It's been a busy month for Sears Hometown and Outlet Stores, which had both good news (store openings!) and not-so-good news (declining comps) in what is the busiest segment in retail.
The Hoffman, IL-based company, spun off from Sears Holdings in 2012, celebrated grand openings for Outlet stores in Bakersfield, CA; Glendale, CA; and Fairview Heights, IL, on March 24. That comes after six openings of the Hometown Stores, which offer national brands of small appliances, lawn and garden equipment, sporting goods and household goods, in February.
Earlier in the month, however, the fourth quarter and full year results weren't so joyous. Comp-store sales dropped 3.4 percent in the fourth quarter and 2.2 percent for the full fiscal year. The declines came in part from the company's decision to exit consumer electronics in its Hometown stores, the company said in its announcement, and a decline in apparel sales due to a narrowed assortment in its Sears Outlet stores, which sell discounted overstocks, seconds, refurbished and other merchandise.
Will the new stores, as well as the 15 units opened in January, a double-digit increase in multichannel sales, and a continuing shift to franchise ownership save the Sears name?
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