Sears posts wider loss, looks at options for Kenmore, others

NEW YORK — Long-struggling retailer Sears says it plans to try to leverage its strongest brands like Kenmore and Craftsman to help sustain itself as it posted a larger first-quarter loss Thursday and said sales fell at its Kmart and namesake stores.

The chain said it's looking at options for prized brands that also include DieHard and Sears Home Services, including possible partnerships or deals that could expand their distribution and service offerings. It gave no specifics but said it believes the Kenmore, Craftsman and DieHard brands can grow significantly with an expanded presence outside of Sears and Kmart.

Sears shares were flat at $12.52 each in late-morning trading Thursday.

Other major department stores such as Macy's, Kohl's and J.C. Penney saw sales decline in the latest quarter as they wrestle with changes in shopping preferences. Americans are making their purchases online and spending more on experiences like eating out rather than new clothes. And when shoppers do buy clothes, it's at discounters like T.J. Maxx.

Sears saw declines even in appliances, where its Kenmore brand and others are an established presence, even as other retailers enjoyed increases from an improving home market. That, says Neil Saunders, CEO of the research firm Conlumino, highlights Sears' main issue: "It has fallen out of favor with American shoppers who continue to abandon the chain at a fairly alarming rate."

Read Friday's Arkansas Democrat-Gazette for full details.

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