Sears sells Craftsman brand

[Red Horse]

Blackdog2...New Departure- didn't they have a big presence in Meriden or New Britain????

[blackdog2]

On 1/12/2017 at 9:37 AM, Red Horse said:

Blackdog2...New Departure- didn't they have a big presence in Meriden or New Britain????

Bristol Conn. they built a real big tank farm with a rail site in case of a war which is still there but over-grown big time. New Departure was a two - three year clean up super fund site. All the dirty dirt went to Mass.

[Red Horse]

11 hours ago, blackdog2 said:

Bristol Conn. they built a real big tank farm with a rail site in case of a war which is still there but over-grown big time. New Departure was a two - three year clean up super fund site. All the dirty dirt went to Mass.

And what did they make there??

[Red Horse]

When in doubt, look it up;

New Departure Manufacturing Company

Media

 

1931 New Departure poster

I was there...

Tell us your story >

Written by Bill Bowman

New Departure Bell Company was formed in 1888 by brothers Albert and Edward Rockwell in Bristol, Connecticut as a manufacturer of doorbells. They began operations at one end of a clock factory, manufacturing doorbells. Soon after, they branched out manufacturing various other products.

In 1898, New Departure introduced the bicycle coaster brake and in 1903 they also began making brakes for belt and chain-driven motorcycles. Large quantities of bicycle front and rear wheel hubs were produced.

In 1904, the Rockwells produced an automobile and then in 1907, the Rockwell Taxi Cab. In 1911, the automobile production ceased. In 1912, Albert organized the Yellow Cab Company, which went into receivership in 1913.

In 1908, New Departure developed the double row bearing capable of handling both radial and thrust loads from either direction and in 1909 obtained a patent for it. In 1910, the company developed the angular contact or Radax single row bearing that took radial loads, as well as thrust loads from one direction.

In 1916, New Departure, Hyatt Roller Bearing, Westom-Mott Axle, Remy Electric Company, Perriman Rim Company and Dayton Engineering Laboratories were purchased by William Durant, president of General Motors, and put under the United Motors Corporation name with Alfred Sloan as President. In 1918, General Motors acquired United Motors outright with Sloan becoming a GM Vice President and in 1923 he became the President of General Motors.

During World War II, New Departure produced ultra precision instrument bearings that were used in the Norden Bombsight, one of the U.S. Air Forces most powerful weapons. In the 1950s, New Departure invented the Roller Clutch used in automatic transmissions, allowing for smoother shifting.

In 1965, General Motors merged the New Departure Division and the Hyatt Roller Bearing Division into the New Departure-Hyatt Bearing Division.

In 1986, New Departure-Hyatt Bearing exited the commercial ball bearing business, retaining only the ultra-precision aircraft engine bearing segment.

In 1989, New Departure-Hyatt Bearing Division and Delco Moraine Division were merged to create Delco Moraine-NDH Division.

In 1992, the Delco Moraine-NDH Division merged with Delco Products and became Delco Chassis Division.

In 1993, the aircraft bearing operation was discontinued ending the era of bearing manufacture.

Today, New Departure and Hyatt are brands owned and sold by General Bearing Company of New York.

Click here to view excerpt from Delco Moraine New Departure-Hyatt Presentation booklet

[mowerman]

got 3 montgomery ward mowers...one lawn tractor...2 push mowers.....planning on restoring the tractor....and getting both mowers in running condition....and yes they were also a big part of filling up a house and garage....as well as sears.....bob

[blackdog2]

16 hours ago, Red Horse said:

When in doubt, look it up;

New Departure Manufacturing Company

Media

 

1931 New Departure poster

I was there...

Tell us your story >

Written by Bill Bowman

New Departure Bell Company was formed in 1888 by brothers Albert and Edward Rockwell in Bristol, Connecticut as a manufacturer of doorbells. They began operations at one end of a clock factory, manufacturing doorbells. Soon after, they branched out manufacturing various other products.

In 1898, New Departure introduced the bicycle coaster brake and in 1903 they also began making brakes for belt and chain-driven motorcycles. Large quantities of bicycle front and rear wheel hubs were produced.

In 1904, the Rockwells produced an automobile and then in 1907, the Rockwell Taxi Cab. In 1911, the automobile production ceased. In 1912, Albert organized the Yellow Cab Company, which went into receivership in 1913.

In 1908, New Departure developed the double row bearing capable of handling both radial and thrust loads from either direction and in 1909 obtained a patent for it. In 1910, the company developed the angular contact or Radax single row bearing that took radial loads, as well as thrust loads from one direction.

In 1916, New Departure, Hyatt Roller Bearing, Westom-Mott Axle, Remy Electric Company, Perriman Rim Company and Dayton Engineering Laboratories were purchased by William Durant, president of General Motors, and put under the United Motors Corporation name with Alfred Sloan as President. In 1918, General Motors acquired United Motors outright with Sloan becoming a GM Vice President and in 1923 he became the President of General Motors.

During World War II, New Departure produced ultra precision instrument bearings that were used in the Norden Bombsight, one of the U.S. Air Forces most powerful weapons. In the 1950s, New Departure invented the Roller Clutch used in automatic transmissions, allowing for smoother shifting.

In 1965, General Motors merged the New Departure Division and the Hyatt Roller Bearing Division into the New Departure-Hyatt Bearing Division.

In 1986, New Departure-Hyatt Bearing exited the commercial ball bearing business, retaining only the ultra-precision aircraft engine bearing segment.

In 1989, New Departure-Hyatt Bearing Division and Delco Moraine Division were merged to create Delco Moraine-NDH Division.

In 1992, the Delco Moraine-NDH Division merged with Delco Products and became Delco Chassis Division.

In 1993, the aircraft bearing operation was discontinued ending the era of bearing manufacture.

Today, New Departure and Hyatt are brands owned and sold by General Bearing Company of New York.

Click here to view excerpt from Delco Moraine New Departure-Hyatt Presentation booklet

Bristol also was Clock & watch capital of the world Waterbury-brass Hartford-insurance Danbury -hat Meriden-silver city New London- sub Stratford-Helicopter 5 gun manufacturers & Pratt&Whitney  Milford ct -subway grinders we had a lot for a little state with experiences !!!! just bad government in Hartford .

[mowerman]

Very interesting thanks....bob
 

[blackdog2]

On 1/11/2017 at 8:37 PM, Red Horse said:

Blackdog2...New Departure- didn't they have a big presence in Meriden or New Britain????

In Meriden you had Parker Mfg guns but couldn't find a good vise so they design their own  known has the Charles Parker vice everybody has seen one they're indestructible and never broke they out live the first owner and possible the second still in use in all real garages .  

[hatcity]

On ‎1‎/‎14‎/‎2017 at 6:04 AM, blackdog2 said:

Bristol also was Clock & watch capital of the world Waterbury-brass Hartford-insurance Danbury -hat Meriden-silver city New London- sub Stratford-Helicopter 5 gun manufacturers & Pratt&Whitney  Milford ct -subway grinders we had a lot for a little state with experiences !!!! just bad government in Hartford .

Thus, my moniker here

[other dog]

10 hours ago, hatcity said:

Thus, my moniker here

Danbury, Connecticut

From Wikipedia, the free encyclopedia

 

"Danbury" redirects here. For other uses, see Danbury (disambiguation).

Danbury, Connecticut
City
Seal
Nickname(s): The Hat City
Location in Fairfield County and the state of Connecticut.
Coordinates: 41°24′08″N 73°28′16″WCoordinates: 41°24′08″N 73°28′16″W
Country	United States
	Connecticut
	Fairfield

The city was named for the place of origin of many of the early settlers, Danbury, Essex, England, and is nicknamed the Hat City because of its prominent history in the hat industry. There is a mineral named for Danbury, danburite

[hatcity]

• Was the "Hat Capitol of the World" at one time. about 50% of all workers either worked in the hat factories or in jobs associated.
• Due to the large amount of water needed in hatting, Danbury has a VERY large resovoir system for its size.
• Mercury used in the processing eventually got into workers systems and resulted in a condition known as the "hatters shake"

back in the day, word in town was "never trust a man without a hat"

Many blame JFK for the hatting industry downfall, as he did not wear one.

[kscarbel2]

Sears to use Craftsman sales proceeds for pensions

The Wall Street Journal  /  March 9, 2017

Sears Holdings Corp. made another move to prop up its cash-draining pension plan, saying it would direct a chunk of proceeds from the sale of its Craftsman brand toward its obligations as part of a deal with the government's pension insurer.

In line with the original terms of the sale, Sears received $525 million from Stanley Black & Decker when the transaction closed and will get $250 million more after three years, plus annual payments on a percentage of Craftsman sales over the next 15 years.

On Thursday, Sears pledged the $250 million payment and some of the income stream from the annual payments toward pension plans, as part of a deal it struck with the Pension Benefit Guaranty Corp. (PBGC), a federal agency that insurers private pension benefits.

Further, Sears agreed to a lien on $100 million in real-estate assets to the PBGC.

Sears has poured billions into shoring up its pension plan over the past decade. Sears has also been cutting spending and selling off real estate lately to fund its operations, but its existing locations continue to struggle as shoppers spend more online and at other chains.

The PBGC operates by collecting insurance premiums from employers that offer pensions and paying usually reduced benefits to retirees in insolvent plans. It works with sponsors to help ensure the continuation of their plans and monitors transactions or events that may pose an increased risk to plans and the pension insurance system.

Sears also surprised investors Thursday by reporting a smaller-than-expected loss in the fourth quarter. In all, the company posted a loss of $607 million, or $5.67 per share, compared with a loss of $580 million, or $5.44 a share, a year earlier. On an adjusted basis, the company reported a loss of $1.28 a share, compared with a loss of $1.70 a share.

Total revenue fell 17% to $6.05 billion and same-store sales fell 10.3%

Analysts polled by Thomson Reuters were bracing for a loss of $2.85 per share on $5.89 billion in revenue, with a 12.1% decline in same-store sales.

[Wobblin-Goblin]

Back to Craftsman tools, I used to buy them pretty much exclusively, but I noticed about eight to ten year ago that more and more were made in China. Today, almost all Craftsman tools are made there. I haven't purchased much, if anything Craftsman in years. It's too bad, as I liked the quality (of US made stuff), the price was decent, and the warranty was really good.

One can hope that Stanley will bring production back to the US for the Craftsman brand.

[kscarbel2]

With Sears' future in doubt, vendors begin pulling back

Reuters  /  March 22, 2017

Sears Holdings Corp's disclosure that it could lack the financial strength to continue as a going concern is turning attention to the key difference maker for any cash-strapped retailer: vendors.

Suppliers to Sears told Reuters they are doubling down on defensive measures, such as reducing shipments and asking for better payment terms, to protect against the risk of nonpayment. They expect tension to mount as Sears approaches the key fourth-quarter selling season amid rising concern about a potential bankruptcy, they said.

The storied American retailer, whose roots date back to 1886, said on Tuesday that "substantial doubt exists related to the company's ability to continue as a going concern."

The managing director of a Bangladesh-based textile firm said his company is using only a handful of its production lines to manufacture products for Sears' 2017 holiday sales. Last year, nearly half of the company's lines in its four factories were producing for Sears.

"We have to protect ourselves from the risk of nonpayment," said the managing director, who declined to be identified for fear of disrupting his company's relationship with Sears.

Mark Cohen, the former chief executive of Sears Canada and director of retail studies at Columbia Business School in New York City, said vendors will keep a close eye on Sears' finances. "Whatever vendors continue to support them are now going to put them on even more of a short string. That means they’ll ship them smaller quantities and demand payment either in advance or immediately upon delivery."

He added: "Sears stores are pathetically badly inventoried today and they will become worse."

Jason Hollar, Sears' chief financial officer, said in a Wednesday blog post that Sears' move to raise capital in recent months is helping strengthen the company's balance sheet. Sears is "a viable business that can meet its financial and other obligations for the foreseeable future," Hollar said.

He cited a $1 billion increase in liquidity from a new secured loan facility and a new asset-based loan that provided $250 million more in "financial flexibility."

SIGNS OF WEAKNESS

Still, Sears' cash position has shrunk dramatically in recent years. Sears, which lost $2.22 billion in the year ended Jan. 28, 2017, had $286 million in cash on hand, down from $609 million in 2012.

Retailers in distress often use their accounts receivable to finance operations, and Sears had $466 million in receivables, down from $635 million in 2012.

Another supplier to Sears, Arnold Kamler, CEO of New Jersey-based bicycle manufacturer and importer Kent International Inc, said he was not surprised by Sears' Tuesday announcement. He said he noticed a warning sign last year when Sears pushed to increase its purchases, which occurred "because a lot of their current suppliers were either cutting them off or limited them on credit."

Kamler said he declined to sell Sears more product and that he receives a report once a week from his accounting department because of concerns around billing, payments and deductions.

The Bangladesh-based clothing supplier said Sears' announcement is making him re-evaluate accepting new orders.

"So far there was only speculation that they would declare bankruptcy in 2017. But now they are acknowledging it, which definitely complicates our relationship with them and our decision to accept future orders from Sears," the executive said.

A second clothing supplier from Bangladesh who did not wish to be named said he renegotiated payment terms with Sears a year ago and was being paid within 15 days of sending a shipment, compared with the traditional 60 days. He is considering asking the company for an advance payment on orders going forward.

Neil Saunders, managing director at retail research firm GlobalData, said tension will grow as the year goes on. "As we move towards the last quarter, I think we'll find there are more and more suppliers that are not necessarily willing to engage with Sears" and will demand cash up-front.

Another sign of Sears' weakness is that insurance companies that once provided policies to Sears vendors - insuring against nonpayment for their goods - are no longer doing so.

Doug Collins, regional director for risk services at Atradius Trade Credit Insurance, said his firm has stopped providing insurance to Sears vendors. "We tried to hang in as long as we could," he said. "Vendors may try to get a few more cycles in before the worst happens, and then it just depends if they're lucky or not."

[Wobblin-Goblin]

Stick a fork in them. They're done.

[Dirtymilkman]

It is sad though. 

[TeamsterGrrrl]

But no surprise... I worked for Sears back in the late 60s, and management was clueless at best and corrupt at worst. The regional HQ was at the store I worked at, and they were known for working 3 day weeks with a late start on Tuesday and knocking off early on Thursday. None the less, these senior idiots were treated like royalty, while the company slowly fell apart. Surprised it's taken them half a century to deteriorate to this point, but their downward trajectory was obvious even back then.

[BillyT]

Aldens!  Forgot all about that one ,we used to get that catalog! Every once in awhile someone would leave an old rusted craftsman ratchet in a junk car I towed away, I'd put it in a vise and put a pipe on it and break it! Initially they replaced the whole thing, then they would just "rebuild it!" Oh by the way, OD Trumps son is looking for foreign workers for his winery in Charlottesville, VA. Says no local workers are available!  The jobs are basic agricultural work, not stoop labor, so there's nobody in Charlottesville willing to do that work? He's paying the visa workers 10 something an hrs looks like he's just looking for cheap labor!

Hat City, when Vogue announced the "end of cleavage", lol, you posted a picture of a pretty girl who hadn't got the message. I don't know who she is, but If you go on YouTube and download "Can I come over tonight" by the Velours, a do wop group, there is a girl who could be her sister pictured! It is the one with the onyx label 45 record pictured! There are several posts of that song but only the one with the onyx record pictured has the girl you need to see it! If your from Connecticut and old enough you probably know the group

[kscarbel2]

Ending West's dominance in the power tools market

China Daily  /  July 25, 2016

Chances are high that on your next visit to a hardware store in the United States, you may notice that Chinese fall clean-up tools are among the best-selling products, giving Germany's Bosch, the world's top power-tool maker, stiff competition.

Before you attribute the sales to presumably lower prices of made-in-China goods, take a reality check: Worx products are costlier than Bosch's.

That's not all. The cordless, lightweight Worx grass-trimmer won an award from the US Electronic Retailing Association in 2010 for its quality and innovation.

There's more. GFK, a European research and consulting company, said in a report that some costlier Worx products outsell Bosch in the latter's home market Germany.

The person behind the brand is Don Gao, president of Positec, a leading Chinese maker of power tools, lawn and garden equipment, and accessories.

"It's not very easy to make inroads into some well-established markets such as the US, Germany and the UK because customers are very loyal to local brands. But we did it, step by step," he said.

When it was founded in 1994, Positec was just a trading company engaged in exports of power tools, including hand drills, trimmers, chainsaws and mowers.

Business was good, spurred by the country's foreign trade. But Gao knew the company had to grow beyond simple trading. For the long run, Positec had to have its own products.

So, in 1995, Gao set up a factory in Suzhou in Jiangsu province, East China. The plant made products for large home improvement retailers overseas such as Sears and home improvement stores B&Q (UK) and OBI (Germany).

Positec was clearly not aiming to be a glorified original equipment manufacturer. OEMs typically dream of making products for industry leaders such as Bosch and Black & Decker. But Gao was aiming higher. Not for him an OEM at the bottom of an industrial value chain.

"We have no say in pricing because you always find someone sets prices lower than yours. The cut-throat competition in China squeezed profits of many traditional producers," he said.

He asked himself: "Why can't we have our own brands?"

In 1999, he decided to create his own brand of power tools. "The shift meant that your old partners became your competitors, so you faced a huge risk of losing orders."

The risk was real and, to be sure, huge: turnover that year plunged by $50 million. Some erstwhile partners even threatened to withdraw their existing orders. "We said, 'Go ahead'."

After several years' efforts and research, Gao finally launched a brand called Worx in 2004. In the same year, Positec acquired Rockwell, a well-known US brand founded in 1945.

Positec, in order to avoid direct competition with local brands, took a shortcut to gain local resources in the US market. The Rockwell acquisition was a quick way to squeeze into a foreign market and help the company build up reputation and a distribution network.

Positec spent some 15 percent of its annual revenue on TV commercials and online social media promotions in new markets.

The campaigns worked so well US sales almost doubled, even during the housing crisis from 2008 to 2010. Gao said the key to winning a marketing battle lies in what he calls product innovation.

"Consumers don't care about the technologies you are putting into products. They only care about whether it works well when they are cleaning up their gardens or assembling their own bookshelves," he said.

A Forbes report said Positec now spends 6 percent of its revenue on innovation, much higher than Black & Decker's less than 2 percent and Bosch's 1.8 percent.

In recent years, it has invested 1 billion yuan on innovation and launched more than 100 products every year, most of them complete with smartphone applications that allow remote control as well as access to product information and after-sales service.

To keep up with the latest trends in power-tool products, Gao spends one-third of his time every year travelling around in the US and Europe and attending various fairs.

"If there's a new launch of a product in the marketplace, I want to know," he said.

The company has a distribution network and operations in 13 countries and three research and development centers in China, Italy and Australia.

[kscarbel2]

Sears Canada going out of business, laying off 12,000

The Toronto Star  /  October 10, 2017

After struggling since June 22 to find a buyer, Sears Canada has thrown in the towel, announcing it will shut down.

Once a titan of Canadian retail, Sears Canada announced Tuesday that it is going out of business, putting 12,000 people out of work and shuttering all operations nationwide.

Among the first to lose their jobs will be most of the 800 people at head office near Dundas Square, who will be let go next week.

Liquidation sales at stores are scheduled to begin Oct. 19 and to take 10 to 14 weeks.

The chain was forced into closure after a bid by executive chairman Brandon Stranzl to save the company was unsuccessful.

“Following exhaustive efforts, no viable transaction for the company to continue as a going concern was received,” according to a press release from the company issued Tuesday.

“The Company deeply regrets this pending outcome and the resulting loss of jobs and store closures.”

The shutdown will not affect parts of the business that have been approved for sale since Sears sought creditor protection on June 22: SLH Transports, a standalone trucking and logistics company that services Sears Canada, will continue under new ownership, as will Corbeil Electrique and certain of the Sears Canada Home Improvement brands.

Sears Canada has already closed 59 stores and announced the closure of another 11, including stores at Fairview Mall and Scarborough Town Centre, since obtaining protection from creditors in June. It will be seeking court approval on Friday to liquidate all its remaining assets.

According to an insider, the Stranzl deal would have saved thousands of jobs and offered relief to landlords, suppliers and consumers holding warranties. It also had financial backing.

About three-quarters of the 12,000 employees are part-time.

Employees were informed prior to the press release being issued.

[Red Horse]

Sad-what's next here.  4 year old Diehard in my Ranger crapped out today.  Took it to Sears, they ran the scan-bad cell came up 9 CCA!  So they prorated at the $130 replacement cost me 100 bucks-but they will no longer be prorating on extended terms.

Again, as with so many retailers I don't think its a case of "what did they do wrong" but rather a case of on line sales.

[mowerman]

was buying thier diehard shoes....a while now.really liked them...but alotta times thier out of my size....and we only have 1 store in the area....and they dont open till 1100....which doesnt help me at all....bob

[kscarbel2]

Associated Press  /  January 4, 2017

Sears Holdings Corp. will be closing over 100 more stores as the struggling department store chain tries to turn around its business.

The Hoffman Estates, Illinois-based company says 64 Kmart stores and 39 Sears stores will be shuttered between early March and early April.

Liquidation sales will begin as soon as next Friday at the stores.

A Sears spokesman said Thursday the number of workers affected was not available. The majority of the jobs are part-time positions, Sears said.

The move comes in addition to closing about 250 stores announced last year.

Sears has been selling off some its real estate and brands as it tries to raise cash.

[kscarbel2]

Will the rapidly shrinking store save retail?

The Washington Post  /  December 25, 2017

With holiday shopping in full swing, Sears decided it was time to host a “grand reopening” for its department store at Fair Oaks Mall in Northern Virginia, complete with magic shows, jugglers, face painting and free cotton candy.

The biggest change for the decades-old shopping center anchor? It was now just half its size.

The store had done away with its entire second floor, concentrating its efforts on its appliance and mattress departments on the ground level. The apparel departments were smaller, and the store’s many cash registers had been consolidated into one sleek, white checkout counter that looked like it had been borrowed from the Apple store.

It had taken more than a year to renovate the store, part of a companywide effort to square a difficult retailing circle. Sears Holdings, which hasn’t posted an annual profit since 2010, is trying to pare costs while making its stores attractive to a generation of shoppers who are increasingly buying online.

“The business is evolving and we’re evolving with it,” said Matt Trautwein, the company’s district manager.

Sears is not the only store cutting back on real estate. Across the country, retailers such as Walmart, Target, Macy’s and Nordstrom are experimenting with ways to distill their inventory into smaller, more-focused locations.

The shift comes, analysts say, as Americans flock from the suburbs to city centers, where space is at a premium. Big-box stores on the outskirts of town are no longer convenient nor practical for millennials with tiny apartments and no car. Target alone is opening 30 smaller stores by the end of the year, doubling its presence near urban areas and college campuses.

“That big weekly stock-up where you fill up the back of the car? That’s very much boomer mentality that millennials aren’t buying into,” said Mike Paglia, director of retail insights for research firm Kantar Retail.

Sales at smaller-format stores are projected to grow 3.9 percent annually until 2022, outpacing 0.8 percent sales growth for their big-box counterparts, according to recent projections from Kantar Retail. Stores smaller than 20,000 square feet account for $612 billion in annual sales, with that figure slated to grow 21 percent to $741 billion in the next five years.

With the boom in sales online, “nobody needs a gazillion square feet of store space anymore,” said Howard Davidowitz, chairman of retail consulting and investment banking firm Davidowitz & Associates. “Retailers are realizing that they have to downsize stores to save money.”

Those smaller footprints means more shopping centers are struggling with how to fill their empty spaces. The shift can be painful for retailers as well, Davidowitz said. Renovations can cost hundreds of thousands of dollars, and in some cases, retailers may have to pay their landlords to alter existing leases.

There can be other challenges, too. American shoppers have become accustomed to shopping in megastores that offer dozens of varieties of shampoo, apples and socks. Getting them to cut down expectations can be difficult.

“It’s a challenge of enormous consequence,” said Mark Cohen, a professor of retailing at Columbia Business School, who also happens to be the former chief executive of Sears Canada. “How do you successfully distill 200,000 square feet of products into 80,000 square feet?”

Take, for example, Walmart. The company, which had been testing small-format Express stores since 2011, last year announced it was scrapping its plans and closing all 102 of its Express stores. Walmart executives did not offer much of an explanation, but analysts say the chain likely had difficulty persuading shoppers to think of Walmart stores as anything but one-stop shops for thousands of items.

“Walmart made several mistakes on the merchandising level,” Jeremy Bowman wrote for the stock investors’ website Motley Fool last year. “It stocked multiple brands of the same item, costing space, and consumers often felt the product selection was not right.”

Now Walmart says it’s shifting gears to slightly larger Neighborhood Markets stores, which average about 40,000 square feet and focus primarily on produce and groceries. (The company’s Express stores, meanwhile, maxed out at about 15,000 square feet. Its Supercenters, by comparison, average about 180,000 square feet.)

“When you walk into a Walmart, you expect a Walmart assortment,” said Sucharita Mulpuru, a retail analyst for Forrester. “Some of the best-performing stores right now are small-format stores: Dollar General, Francesca’s, Five Below. But going from a big-box store to a small format is often much more challenging.”

At the Sears in Fair Oaks Mall — which is now about 78,000 square feet, down from 145,000 square feet — dozens of ellipticals and treadmills were on display, as were hundreds of appliances, many of them wrapped in festive red bows. Store managers said they tried to keep the store’s most popular departments — appliances, mattresses, lawn and garden — as large as possible, while shrinking the selection of apparel, jewelry and home goods. The company had also added computer kiosks throughout the store where customers could browse the selection at Sears.com and place orders for items that weren’t offered in a store.

“Obviously we want to restore profitability and what that means is Sears is taking a good look at the assets we have available,” said Leena Munjal, senior vice president of customer experience. “The physical experience is very important to our members, but do they need 150,000 square feet? In many cases, no.”

The retailer needs to move quickly. Sears has already cautioned there is “substantial doubt” about whether it can remain a going concern even as it pursues a turnaround plan.

“Sears is just biding its time,” Davidowitz said. “Everybody else is downsizing, so they’re trying it too.”

But longtime customers at Fair Oak Mall last week didn’t seem to know what to make of the changes. For much of the morning, employees in Santa hats outnumbered shoppers. The ones who did walk in said they’d mostly come to browse.

A regular from Annandale, who said she had been coming to the store for 30 years, was confused by its new layout.

“That was really a shocker when I walked in and there was no upstairs,” she said. “I’m used to going to certain levels for certain items. I’m completely lost.”

[Red Horse]

Well here in Mass. they are closing the Burlington store-which is in a very upscale complex.  Still have two stores that are within 10 miles of me in opposite directions. Went in one just before Christmas to get some tools for my sons and was surprised by the empty floor space.  They have really cleaned house-figured the store was next on the cut list  but it survived-this round.

 But to show you how screwed up they are-I always look for "Made in USA" labels.  Found some stuff-including tin snips- they had some under "Craftsman" label and exact same ones with the "OEM" brand!