Sears planning to offer bedding in more stores
Carole Sloan -- Furniture Today, June 21, 2004
Hoffman Estates, Ill. — Hoffman Estates, Ill.— Sears is doing "great" business in bedding and is looking to expand its presence beyond the 470 locations where the product is now sold, according to the company's top executive.
Chairman and CEO Alan Lacy, discussing bedding after the Sears annual meeting here, said the retailer had a strong start in bedding, then a soft blip last year, and a resurgence this year.
Lacy previously had said that additional bedding departments would be added when appropriate as stores are remodeled. This year, Sears expects to remodel 116 of its 870 full-line mall stores.
Last month, the company had a national rollout of Serta FireBlocker bedding, which complies with the California fire-resistance regulations due to take effect next January.
Turning to the company's Great Indoors concept, he said performance has improved since last fall, when the company announced it was closing three units and changing its merchandising approach. Customers still are accepting the now 18-unit redecorating and remodeling business concept, he said.
"By the end of 2004, I am hopeful that we will see a plan for new stores" for The Great Indoors, Lacy said.
He said the company had expanded The Great Indoors too fast and made "poor real estate decisions."
The revised merchandise mix still offers an extensive assortment of area rugs as well as leather upholstery, home entertainment units and other occasional pieces such as armoires, tables and etageres.
The chain is expected to do in excess of $500 million in sales this year, Sears said.
