The company's off-mall push began in 2003, when it opened its first Sears Grand, one-level stand-alone stores that sell appliances and home goods the chain's mall stores are known for, as well as dry grocery items. There are now four Sears Grands in operation in Gurnee, IL; Las Vegas; Rancho Cucamonga, CA; and West Jordan, UT. Five more are set to open in the fall.
"Sears Essentials will lead the way as we embark on the most aggressive growth initiative in company history," says Sears Chairman and CEO, Alan Lacy, in a prepared statement. "This new store format enables Sears to grow its brand off-mall and better meet the everyday needs of our customers."
Sears Essentials will roll out in 12 states across the country. California will get the most, with six (three will open in San Diego alone), followed by Florida, with five. They average between 90,000 sf and 100,000 sf. Sears Grands are typically more than 100,000 sf.
The $11 billion Kmart-Sears merger is seen by industry observers as a way for the latter to expand off-mall. The two companies, which plan to close the deal by the end of March, would form Sears Holding Corp, the third-largest retailer US retailer behind Wal-Mart and the Home Depot, with about 3,500 stores and annual revenues of about $55 billion.
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