Sears to Begin Selling Paint in Stores Again
August 30 2016 - 10:00AM
Dow Jones News
Sears Holdings Corp. said it would begin selling paint again
after a roughly four-year hiatus and bring its Craftsman brand into
the paint category for the first time, as the struggling retailer
aims to benefit from stronger demand in the home-improvement
market.
The Hoffman Estates, Ill., retailer initially plans to stock
shelves at 23 U.S. stores with paint brands including the
Craftsman, Weatherbeater and Easy Living labels.
"We are confident the time is right to re-enter the category,"
which Sears stepped away from in 2012, said Dean Schwartz, a Sears
tools, lawn and garden executive. After the initial rollout, the
retailer plans to reintroduce paint to all of its retail
locations.
The move comes as home-improvement retailer Home Depot Inc.
recently raised its outlook for the year after posting strong
second-quarter results. Rival Lowe's Cos. also received a boost
from an improving housing market, though not to the same
degree.
Sears, which also owns the Kmart discount chain, in May said
that it was exploring increasing the availability of its Kenmore,
Craftsman and DieHard wares outside of Sears and Kmart stores. In
June, Sears unveiled plans to put its DieHard brand on automobile
tires, the brands first major expansion in more than a decade.
The company has been trying to turn itself around by spending on
new technologies and services to better equip as consumers buy more
goods online. Sears efforts to return to profitability also have
included cost-cutting and store closings. Like other retailers,
Sears has faced challenges from a highly promotional
environment.
Write to Tess Stynes at tess.stynes@wsj.com
(END) Dow Jones Newswires
August 30, 2016 09:45 ET (13:45 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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