Sears rolls out Land End
Clothing brand in stores as profits rise
July 19 2002
Sears, Roebuck will offer Lands’ End’s clothing in more than 180 of its stores from this autumn.
Sears acquired the popular women’s, men’s and children’s clothing brand two month ago.
Stores in markets including Chicago, Los Angeles, San Francisco, Boston and New York will be remerchandised so that up to 20 per cent of clothing sales space is devoted to Lands’ End products. Roll out to other Sears stores will continue in 2003.
Sears has reported record second quarter income of $420m, a 36 per cent increase over the same period last year Alan J. Lacy, chairman and chief executive said: “Profits for the quarter showed solid increases across all segments. Margin rate improvements continue to benefit the retail businesses, while credit and Financial Products results were driven by the growth of the Sears Gold MasterCard product and a favourable interest rate environment. First half earnings exceeded our expectations.”
Sears has also announced an increased range of benefits on offer to Sears Card holders. Partnerships with travel, entertainment, dining and retail businesses that do not directly compete with Sears will generate special offers and cross-promotional opportunities. With 40 million holders, Sears Card has the largest retail credit card customer base in the world.
