Two thousand and eight is a leap year. For Sears, which on February 28, 2008, announced a 47 percent decline in 2007 fourth-quarter net earnings on a 6.8 percent sales drop, a different kind of leaping could be on the horizon.
The Hoffman Estates, Illinois-based Sears announced that it’s considering selling some of its biggest brands—Craftsman, DieHard, Kenmore, and Lands’ End—through retailers beyond its nearly 3,800 U.S. and Canadian stores. (Read the entire press release from Sears.)
“One of our most important resources is the great brands we own, in particular DieHard, Craftsman, Kenmore, and Lands’ End,” said Sears Chairman Edward S. Lampert in a letter to shareholders. “All four of these brands have significant equity with customers and provide tremendous opportunity for value creation.” Lampert went on to explain that DieHard “leads in customer recognition among car battery brands by a wide margin, but it lags dramatically in market share . . . due to fewer points of distribution.” The move to sell Sears brands through other retailers “is an opportunity for us to rethink our brand distribution strategy to create value,” said Lampert.
The announcement is yet another sign of the reeling U.S. economy and points to tougher times for Sears, whose shares were down almost 5 percent in trading on February 29. The good news: The presence of Sears brands at other retailers could be a boon for appliance and outdoor-power-equipment shoppers who don’t live near a Sears store, since Kenmore and Craftsman products consistently get high scores in our Ratings of major appliances and outdoor gear.
Should Sears cross that threshold, it will be some time before its Craftsman, DieHard, Kenmore, and Lands’ End products appear in other places.
For now, you might have to drive the extra distance to a Sears or even to a Kmart store, where some Sears products are sold. If you’re lucky, any deal you get won’t be guzzled up by the rising price of gasoline.
Below we’ve highlighted a few notable performers sold by Sears. You’ll find the latest reports and Ratings for all appliances and outdoor power equipment on our main Appliances and Tools & Power Equipment pages. Note that Kenmore appliances and Craftsman mowers and lawn tractors have tended to be reliable, based on responses to the Annual Product Reliability Survey conducted by the Consumer Reports National Research Center.
Laundry appliances:
The Kenmore Elite HE5t Steam 4778[1], $1,600 (shown), and Elite HE5t 4708[1], $1,300, front-loading washers were among the top-rated machines in our latest report. The Kenmore Elite Oasis 6706[2], $800, and Elite Oasis 6703[2], $700, dryers notched excellent scores in our latest tests. Ratings of washing machines and dryers are available to subscribers.
Kitchen appliances:
Four Kenmore dishwashers were among the top six scorers in our latest tests of dishwashers: Kenmore1374[2], $650; Elite 1378[2], $1,000; Elite UltraWash HE 1315[2], $1,100; and Elite UltraWash HE 1312[2], $900.
Two Kenmore 30-inch electric smoothtop ranges—9641[2], $750, and 9611[2], $580—are among the best performers in our latest report.
The Kenmore Elite 5896[2] side-by-side refrigerator scored highly in our Ratings.
Ratings of dishwashers, electric ranges, and side-by-side refrigerators are available to subscribers.
Outdoor power equipment:
Sears also rides high in lawn tractors. The 46-inch Craftsman 28724, $1,600, and the 54-inch Craftsman 27690, $2,000, are among our top-rated tractors and also among the lowest-priced tractors we've tested. Learn how to choose a lawn tractor and see our Ratings of tractors for more information.—Daniel DiClerico