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TheStreet Open House

Sears Appliance & Hardware Stores Launches New Prototype

Stocks in this article: SHOS

HOFFMAN ESTATES, Ill., Oct. 31, 2013 (GLOBE NEWSWIRE) -- The opening of a new Sears Appliance & Hardware store in Dallas, Texas marks two milestones for the hardware subsidiary operating under Sears Hometown and Outlet Stores, Inc. (Nasdaq:SHOS). It is the debut of the smaller, neighborhood model that will become a company standard for all new locations and the first brand new Sears Appliance & Hardware store to open in the past ten years.

Dave Maggio, who co-owns the new Dallas Sears Appliance & Hardware Store at 10031 Marsh Lane with his business partner Michael Donohoe, is a Dallas-area resident who owns several locations across the United States. He said, "We first invested in the Sears Appliance & Hardware Store format two years ago by purchasing company-owned locations all over the United States. Though we saw a great need locally for a Sears Appliance & Hardware Store, there were no existing company-owned locations for us to acquire. When we heard that Sears Hometown and Outlet Stores was interested in rolling out a smaller, neighborhood model, we knew this smaller version of the Sears Appliance & Hardware Store format would fill a void in the Northwest Dallas area. Our new store embraces the feel and customer service of a neighborhood hardware store, without compromising on the reach of our merchandise assortment."

While the average Sears Appliance & Hardware Store is between 22-25,000 square feet, the smaller, neighborhood model condenses the original model to 16-18,000 square feet, yet still offers the same size and quality of inventory. Additionally, any item unavailable in store can be ordered and delivered straight to the door of the consumer.

"No major portion of our inventory was impacted with the decision to launch the smaller version of our Sears Appliance & Hardware Store format," said Rudy Mazak, Divisional Vice President of Sears Hometown and Outlet Stores, Inc. "We are able to maximize our traditional hardware and tool assortments while still maintaining the breadth and depth of our traditional appliance and lawn and garden lines. Plus, our customers are not limited to what is on the sales floor – we have a multi-channel capability that provides an unmatched convenience for consumers."

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