REAL ESTATE

Sears store opens in an Ace Hardware

BY HBSDealer Staff

So far this year, four Sears Hometown Stores have opened around the country. Of particular interest is the opening in Selma, California — inside a hardware store.

On Jan. 28, California Sears Hometown Store opened inside the Nelson Ace Hardware store in Selma.

“We saw a distinct need in the Selma community for an appliance outlet,” said Mike Nelson, owner of the Sears Hometown Store in Selma. “With the store-within-a-store format offered by Sears Hometown Stores, we can add onto our existing business and truly provide a one-stop-shop for home improvement needs. Shoppers will now have access to a wide selection of top brand name home appliances at the lowest possible price.”

Other openings of Sears Hometown stores, the franchise brand focused on appliances, tools and lawn and garden products. In Selma, the store-within-a-store will sell products, including Kenmore, Maytag, KitchenAid, Whirlpool, Bosch, Frigidaire and GE, a large assortment of lawn and garden equipment, Craftsman tools, fitness equipment and electronics.

Also this year, a Sears Hometown opened in Caribou, Maine, inside the Options Rent-to-Own Store.

Other Sears Hometowns have opened this year were in Mason City, Iowa, and Fayetteville, Georgia.

keyboard_arrow_downCOMMENTS

Leave a Reply

R.May says:
Feb-02-2016 02:54 pm

Sears store opens in an Ace Hardware
Really? Fast Eddie you are brilliant! #snark Opening up a mini-Sears store inside a rent to own store. Now that's thinking outside the box... err I guess that would be thinking inside the box. Yeah that's it!

R.May says:
Feb-02-2016 02:54 pm

Really? Fast Eddie you are brilliant! #snark Opening up a mini-Sears store inside a rent to own store. Now that's thinking outside the box... err I guess that would be thinking inside the box. Yeah that's it!

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
FINANCE

How ‘Project Leapfrog’ helps Lucky Brand win

BY Mike Troy

Lucky Brand may be 25 years old, but with two new prototypes performing well and a series of omnichannel investments yielding results, the private equity-backed company’s most significant growth could be just beginning.

Lucky Brand operates 259 stores, about two thirds of which are in malls, and its namesake products are sold in specialty shops and leading department stores such as Macy’s and Dillard’s. Although it was founded in 1990, Lucky Brand is positioned to achieve its greatest success in the years ahead due to a series of events that include a new ownership structure, a recently introduced prototype and a major technology undertaking dubbed, “Project Leapfrog.”

The architect of Project Leapfrog is Lucky Brand chief information officer Jason Richard. He joined the company in June of 2014 as the first information technology employee following the company’s sale to the private equity firm Leonard Green & Partners a few months earlier. Prior to that deal, Lucky Brand was part of a brand holding company called Fifth & Pacific Companies which also owned Kate Spade and Juicy Couture. Fifth and Pacific sold Juicy Couture in October 2013 to Authentic Brands Group and then in December 2013 sold Lucky Brand for $225 million before adopting the identity of its remaining brand holding, Kate Spade.

As a standalone company, one of Richard’s first challenges at Lucky Brand was to create an IT infrastructure to support growth and enable the company to serve wholesales customers, an expanding store network and increasingly omnichannel customers. It was both a daunting prospect and an enviable position in that Richard had the opportunity to build an information technology organization unencumbered by legacy systems cobbled together with upgrades. Richard started with a clean slate and built an organization (now with 40 employees) and the systems to support a business that was changing fast.

“Netsuite is at the center of our system landscape,” Richard said, referring to the cloud-based software solutions provider at the heart of company’s Project Leapfrog. "NetSuite's modern, cloud-based platform has helped enable our business transformation. We're now equipped with a scalable, flexible platform to streamline complex retail processes and gain complete, real-time financial and inventory visibility across the business to enable a superior omnichannel customer experience.”

Lucky Brand implemented NetSuite OneWorld to run business processes across its B2C and B2B wholesale operations for financial consolidation, inventory management, procure-to-pay, fixed assets, and multi-currency and multi-tax compliance management. Lucky Brand also uses the Netsuite’s Bronto Marketing Platform from Bronto Software to handle commerce marketing automation and drive digital marketing.

As the major IT upgrade was being completed, the company’s traditional mall-based stores were being re-imagined in new free-standing locations. About two thirds of stores are located in malls and average about 2,500 sq. ft., but a newly developed prototype with locations open in Las Vegas and Manhattan Beach, California, is more than twice the size.

“People like wearing Lucky Brand jeans and we are priced so that people can still afford to buy them,” Richard said, noting that about half the company’s sales come from denim. “We also do a lot of business in fashion apparel and we continue to look at opening more stores and expanding assortments.”

Like virtually all retailers, especially those in apparel categories where inventory management is especially challenging due to size and style variables, Lucky leans on its digital presence to offer an endless aisle experience to shoppers.

“Expansion of omnichannel is one of our main focus areas this year," Richard said, adding that he expects progress to be made as the company moves toward a unified platform.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
FINANCE

Lumber Liquidators settles with Department of Justice for $13.2 million

BY Staff Writer

Lumber Liquidators has been handed its penalty by the U.S. Department of Justice over allegations of illegal sourcing, which will amount to $13.2 million in fines and forfeitures.

“The case against Lumber Liquidators shows the true cost of turning a blind eye to the environmental laws that protect endangered wildlife,” said Assistant Attorney General John C. Cruden for the Department of Justice’s Environment and Natural Resources Division. “This company left a trail of corrupt transactions and habitat destruction. Now they will pay a price for this callous and careless pursuit of profit.”

A federal judge sentenced the company to $13.2 million in penalties and five years of probation on Monday in a federal court in Norfolk, Virginia. That's $7.8 million in criminal fines, $969,175 in criminal forfeiture, $3.15 million in civil forfeiture, and more than $1.23 million in community service payments.

Part of the organizational probation will entail independent audits and an environmental compliance plan.

In terms of community service contributions, money will go toward conservation nonprofits such as the National Fish and Wildlife Foundation and the USFWS Rhinoceros and Tiger Conservation Fund.

The retailer had already agreed in October to plead guilty to violations of a customs law and the Lacey Act, having been accused of illegally importing wood from protected forests in Russia. The $13.2 million settlement is the largest Lacey Act penalty on record, according to a DOJ statement. This is also the first felony conviction related to the import or use of illegal timber.

Lumber Liquidators received a felony charge of importing goods through false statements and four misdemeanors for breaking timber laws in a foreign country and transporting the falsely labeled timber into the U.S.

“By knowingly and illegally sourcing timber from vulnerable forests in Asia and other parts of the world, Lumber Liquidators made American consumers unwittingly complicit in the ongoing destruction of some of the world's last remaining intact forests,” said Director Dan Ashe of the U.S. Fish and Wildlife Service. “Along with hastening the extinction of the highly endangered Siberian tiger and many other native species, illegal logging driven by the company's greed threatens the many people who depend on sustainable use of these forests for food, clean water, shelter and legitimate jobs. These unprecedented sanctions show how seriously we take illegal trade, and I am grateful to the Service special agents and wildlife inspectors, Homeland Security agents, and Justice Department attorneys who halted Lumber Liquidators' criminal acts and held the company accountable under the law.”

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...