Sears: We "Will Be Unrecognizable" After Transformation
Sears, at its recent annual sales meeting last month, announced a major business transformation project which includes massive online expansion plans as well as scaling back on its brick-and mortar stores.
Additionally, the transformation plan will allow other merchants to stock some of its brands and sell some of its partners' brands online.
Edward Lampert, chairman and majority shareholder of Sears Holdings, said "Five years from now, I believe this company, to some people, will be unrecognizable compared to what the company was 20, 30 or 40 years ago."
The department store announced it is bolstering its online store and will launch a massive real estate web site that lists more than 3,000 properties for sale or lease. The listing will include stores, adjacent parking lots, and in-store locations across the U.S.
As part of the company's new online strategy, Kmart launched MyGofer pickup service, which lets consumers shop via mobile. The service also offers community groups and has a Twitter feed.
"People are getting their information online, and they're going to get more of their information from mobile devices. If we're not there, the stores aren't going to matter," said Lampert at the company's most recent shareholder's meeting.
The retailer also operates a real estate Web site, SHC Realty, which launched in December 2009 and lists more than 3,800 properties, including closed-store and open-store sites.
The site is powered by Google mapping from Terrametrics and geo-databasing from Applied Geographic Solutions. Investors can generate maps showing the locations of for-sale real estate, and they can call up information about the markets where Sears is selling.
Additionally, the transformation plan will allow other merchants to stock some of its brands and sell some of its partners' brands online.
Edward Lampert, chairman and majority shareholder of Sears Holdings, said "Five years from now, I believe this company, to some people, will be unrecognizable compared to what the company was 20, 30 or 40 years ago."
The department store announced it is bolstering its online store and will launch a massive real estate web site that lists more than 3,000 properties for sale or lease. The listing will include stores, adjacent parking lots, and in-store locations across the U.S.
As part of the company's new online strategy, Kmart launched MyGofer pickup service, which lets consumers shop via mobile. The service also offers community groups and has a Twitter feed.
"People are getting their information online, and they're going to get more of their information from mobile devices. If we're not there, the stores aren't going to matter," said Lampert at the company's most recent shareholder's meeting.
The retailer also operates a real estate Web site, SHC Realty, which launched in December 2009 and lists more than 3,800 properties, including closed-store and open-store sites.
The site is powered by Google mapping from Terrametrics and geo-databasing from Applied Geographic Solutions. Investors can generate maps showing the locations of for-sale real estate, and they can call up information about the markets where Sears is selling.