Sears selling off Craftman name brand.

[vett0111]

Sears selling off craftman name brand



Sears Holdings Corp. agreed to sell its Craftsman tool brand to Stanley Black & Decker Inc. for about $900 million, marking Chief Executive Officer Edward Lampert’s third move in the last two weeks to prop up the beleaguered retailer with fresh sources of funding.

Stanley will pay $525 million at closing and $250 million after three years, the companies said in a statement Thursday. The buyer also will make annual payments on new Craftsman sales for 15 years........

With Sears’s department-store business continuing to bleed cash, Lampert has turned to selling and spinning off assets to keep the company operating......

Sears also has been reviewing its DieHard batteries and Kenmore appliance brands for potential sales.......

Separately, Sears said it’s closing 150 more stores, part of a program to shrink the retailer’s physical presence to stem its continued losses. The company posted another grim sales report Thursday, with comparable-store sales declining 12 percent to 13 percent during the holiday period..........

https://www.bloomberg.com/news/artic..._medium=social

[jackiekennedyfishingguide.com]

Stick a fork in Sears they are done, well done and over.

[dan_wrider]

Have not been impressed with Sears customer service at all in the past.

[vett0111]

Yeah looks like sears is hurting bad.

[jackiekennedyfishingguide.com]

WalMart hurt em bad, then Amazon came along and the old brick and mortar stores(Sears-Montgomery Wards_Penny's)are all either dying or gone. Soon to be history. Large overhead can't compete with a website,

[mikechell]

One can blame Walmart and the internet, but that's only a small part of the problem.
As much as I'd like to say "Made in America" means better quality, it just isn't usually true. "Made in America" only means it'll be more expensive ... no guarantee of anything else.
If you're a big company like Sears, and you continue trying to convince the public that your prices are "worth it" when proof is that they AREN'T, then you're destined to fail.

I am glad they sold Craftsman. That's one of the few products that IS worth it. Glad to know those tools won't go away when Sears does.