Sears Holdings has a great idea: instead of relying on sales of washers, dryers, and tools, it’s going to work on a way to make more money from its trusty brands like Kenmore, Craftsman, and DieHard. As for exactly how it’s going to do that, Sears isn’t saying.
Sears announced on Thursday that it’s exploring unspecified alternatives for those brands, as well its Sears Home Services. By alternatives, it seems it Sears might be thinking of making those brands available outside of Sears and Kmart stores.
The news came on the heels of another bad quarter for both Sears and Kmart, notes the Chicago Tribune.
“Our iconic KCD brands are beloved by the American consumer and we believe that we can realize significant growth by further expanding the presence of these brands outside of Sears and Kmart,” the company said in its earnings release. “By evaluating potential partnerships or other transactions that could expand distribution of our brands and service offerings, we can position both businesses to achieve greater success.”
Again, it’s not clear what exactly Sears is thinking, but the company could license the products out let other retailers sell them, or it could sell the brands off completely.
Sears has brought on financial advisors to help it explore all its options.
The move comes after Sears announced earlier this month that it would be opening smaller-format stores that focus solely on its appliance offerings.
Sears considers options for Kenmore, Craftsman and DieHard brands [Chicago Tribune]