It does suggest that Lampert still isn't giving up on Sears as a retail concept -- though maybe he should.
Merchandise Sales Sears' merchandise sales have been declining significantly, with Kmart's 2017 merchandise sales down 45% since 2015, and Sears Domestic down 28% from 2015.Kmart's merchandise sales declines have been more affected by store closures though, while Sears Domestic's merchandise sales have been hit by comparable store sales declines.In addition, Boltz previously held several leadership roles in merchandising at The Home Depot, including senior VP of hardlines.Prior to that, he was with Sears for more than 20 years.Although Kmart sells a number of the same types of products as Sears, the mini-Kmart will feature items you can't get at Sears, like cleaning supplies, pet supplies, groceries, and more.
Similarly, the mini-Sears shops inside Kmart will sell appliances.
Instead of having to go to Kmart to get your groceries and then head over to Sears to buy other merchandise, you can do it all in one trip.
The store-in-store concept sounds like something that should have been tried a long time ago, but not many people expect it to change Sears' fortunes.
Richard Maltsbarger, COO, has left the company, effective immediately.
Maltsbarger had been with the company since 2004, and became COO in February 2018.
The two brands have been together for over a decade, but it wasn't until the retailer was near death's door that it considered this store-in-store concept.