Sears to Open 15 New Full-Line Stores and Remodel 50 in 2002
New Store Opening In Bel Air At Harford Mall In March
Sears, Roebuck and Co.'s 2002 growth plans include opening 15 new full-line stores, including a new store at the Harford Mall in Bel Air, Md., and remodeling an additional 50 nationwide by the end of the year.
The company also plans to relocate two existing Maryland stores this spring. In Annapolis, a new store will be opened at Annapolis Mall, replacing the current store in Parole Plaza. In Hagerstown, a new store will be opened at Hagerstown Mall, replacing the current store in Long Meadow Center.
These actions are part of Sears' plan to revitalize its full-line stores, creating an improved, more convenient shopping experience for its customers while operating with greater efficiency.
"We think customers will like the new look and feel of shopping at Sears," said Sears Chairman and Chief Executive Officer Alan J. Lacy. "Our stores will be easier to shop and the merchandise more appealing. We'll emphasize better classic apparel while highlighting our strong appliance, electronics and home improvement merchandise," Lacy concluded.
Customers will continue to receive personal sales assistance when shopping for appliances, electronics, fine jewelry and other purchases where customers expect more assistance. Self-service will be offered in apparel and other softlines departments where employees will be available for assistance as needed, and centralized cashiering will provide for quicker merchandise checkout.
Of the 15 new stores planned to open in 2002, seven are relocations within local markets. All of the new stores will offer easy-to-shop layouts, with centralized checkouts and simplified signage and fixtures. A list of locations and estimated opening dates is attached.
Later this year, Sears also plans to remodel 50 stores. The stores are the first wave in a four-year remodeling program during which approximately 600 of Sears' largest stores will be updated to incorporate many features of the new stores. The remodels will begin in the second quarter. Additional details on the store locations being remodeled this year are not yet available.
Sears, Roebuck and Co. (NYSE: S) is a leading U.S. retailer of apparel, home and automotive products and services, with annual revenue of more than $40 billion. The company serves families in the U.S. through Sears stores nationwide, including approximately 860 full-line stores. Sears also offers a wide variety of merchandise and services through its Web site, www.sears.com .
New Stores
-- Albuquerque, N.M. - Cottonwood Mall, March
-- Bel Air, Md. - Harford Mall, March
-- Durham, N.C. - Southpoint Mall, March
-- Glendale, Ariz. - Arrowhead Mall, March
-- Peru, Ill. - Peru Mall, March
-- Henderson, Nev. - Warm Springs Promenade, February
-- Raleigh, N.C. - Triangle Town Center, August
-- North Riverside, Ill. - North Riverside Plaza, TBD
Store relocations
-- Annapolis, Md. - Annapolis Mall, replaces Parole Plaza, March
-- Ft. Worth, Texas - Hulen Mall, replaces Fort Worth Town Center, March
-- Hagerstown, Md. - Hagerstown Mall, replaces Long Meadow Center, March
-- Manassas, Va. - Manassas Mall, replacing current store in Manassas,
March
-- Prescott, Ariz. - Prescott Gateway Center, replaces Ponderosa Plaza,
March
-- Coon Rapids, Minn. - Riverdale Village, replaces Riverdale Crossing,
August
-- Tampa, Fla. - West Shore Plaza, replaces Tampa Bay Center, October
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SOURCE: Sears, Roebuck and Co.
Contact: Melissa Winchester of Sears, Roebuck and Co., +1-847-286-5708
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