Sears Hometown (SHOS) “Store-Within-A-Store” Program Gains Momentum with Independent Retailers
HOFFMAN ESTATES, Ill., May 05, 2016 (GLOBE NEWSWIRE) — Since launching its scaled-down “store-within-a-store” dealership opportunity in 2014, Sears Hometown and Outlet Stores, Inc. (NASDAQ:SHOS), has expanded into 15 independent retailers with three more in the development pipeline for 2016.
An extension of Sears Hometown and Outlet Stores’ conventional Sears Hometown Store model, the “store-within-a-store” program reaches more communities with a void in the home appliance retail space. Through this partnership, independent retailers have the opportunity to offer the 10 top appliance brands—such as Kenmore®, Maytag®, KitchenAid®, Whirlpool®, Bosch®, Frigidaire® and GE®—and full product lines in store and through the Sears website, with no fees or royalties paid to Sears Hometown and Outlet Stores, Inc. Merchandise options include an appliance only format or appliances with tools and lawn & garden equipment.
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The “store-within-a-store” program is gaining popularity as independent home retailers seek various methods to diversify revenue streams, and this program allows them to do so with product lines that complement the store’s existing product assortments. Requiring at least 2,000 square feet of available retail floor space, through the program store owners are better able to cater to consumer demands without having to purchase inventory. All inventory is provided by Sears Hometown and Outlet Stores on consignment to the owner, therefore store-within-a-store partners are not required to pay for inventory or freight expenses.
“The response to the ‘store-within-a-store’ program has been overwhelmingly positive from our partner retailers and their loyal customers,” stated Rohit Jacob, Divisional Vice President, Store Development at Sears Hometown and Outlet Stores, Inc. “We’re providing independent retailers the opportunity to turn their extra space into profit by offering customers related home products that complement their existing sales floor. As more independent retailers learn about the success of this program from others within the industry, we expect many more to jump at the opportunity.”
The Company is looking to partner with strong, suburban or rural businesses that have product offerings aligned with the Sears Hometown Store’s collection. Sears Hometown Stores covers the cost of adding exterior signage, marketing and advertising, meanwhile store-within-a-store partners must dedicate a few employees to serve as brand certified sales associates. Customers benefit from having access to well-known brands, as well as all the perks that are typical of other Sears stores, including Shop Your Way Rewards, Sears Credit, Sears protection agreements and more.
For more information about Sears Hometown & Outlet Stores, please visit www.shos.com. To learn about the opportunity to own and operate a Sears Hometown Store within an existing independent retail location, please visit www.ownasearsstore.com.
About Sears Hometown and Outlet Stores, Inc.
Sears Hometown and Outlet Stores, Inc. (NASDAQ:SHOS) is a national retailer primarily focused on selling home appliances, lawn and garden equipment, tools and hardware. As of April 30, 2016, Sears Hometown and Outlet Stores, Inc. and its dealers and franchisees operated 1,150 stores across all 50 states as well as in Puerto Rico and Bermuda.
In addition to merchandise, Sears Hometown and Outlet Stores, Inc. provides consumers with access to a full suite of services, including home delivery, installation and extended service contracts.
Sears Hometown and Outlet Stores, Inc. operates through two segments—the Sears Hometown and Hardware segment and the Sears Outlet segment. The Sears Hometown and Hardware segment’s stores are designed to provide customers with in-store and online access to a wide selection of national brands of home appliances, lawn and garden equipment, tools, sporting goods and household goods, depending on the particular store. The Sears Outlet stores are designed to provide customers with in-store and online access to purchase new, one-of-a-kind, out-of-carton, discontinued, reconditioned, overstocked and scratched and dented products across a broad assortment of merchandise categories, including home appliances, apparel, mattresses, sporting goods, tools and lawn and garden equipment at prices that are significantly lower than list prices.