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News > Companies
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Sears to open 15 stores
graphic January 7, 2002: 6:56 p.m. ET

Nation's No. 4 retailer to remodel 50 stores, as part of four-year plan.
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  • Sharp discounts expected for post-Christmas sales - Dec. 26, 2001
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    NEW YORK (CNN/Money) - Sears Roebuck and Co., the nation's No. 4 retailer, announced Monday plans to open 15 new stores and remodel another 50 by the end of the year.

    Sears (S: down $0.13 to $49.52, Research, Estimates), based near Chicago in Hoffman Estates, Ill., will open new full-line stores in locations including Durham and Raleigh, N.C.; Peru and North Riverside, Ill.; Bel Air, Md., and Glendale, Ariz. Seven of the 15 stores are relocations within local markets, the company said in a statement.

    The company also plans to revamp 50 stores, the first wave of its four-year remodeling program wherein 600 locations will be updated. The revamps, which will begin in second quarter, are part of Sears' strategy to revitalize its full-line stores.

    "We'll emphasize better classic apparel while highlighting our strong appliance, electronics and home improvement merchandise," CEO Alan Lacy said. graphic

      RELATED STORIES

    Sharp discounts expected for post-Christmas sales - Dec. 26, 2001




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