Sears, Roebuck and Company
Hoffman Estates, IL
Diversification has helped this American retail institution keep a firm hold in an ever-changing marketplace. The venerable department store chain has added a number of specialty stores to its portfolio: automotive, homelife, hardware, Land’s End, dealer, etc. Gross Retail Area at fiscal year-end 2002 for Sears was 150 million square feet of space in 2,192 stores: 127.2 million in 872 full-line stores, with the remainder in specialty stores. Ranked No. 31 on this year’s Fortune 100 with revenues of more than $43 billion, the company also owns the 200-acre site in Hoffman Estates, IL, where its principal executive offices are located. The complex consists of six, interconnected buildings totaling approximately 2 million gross square feet of office space. As of Dec. 28, 2002, there were 856 other sales offices and service facilities, most of which are occupied under short-term leases or are a part of other Sears facilities. The company also operates 119 distribution facilities.
[Editors’ Note: Spending more time in places beyond its traditional shopping center environment, Sears has about 1,300 other locations, including nearly 770 independently owned Sears dealer stores in small towns and about 475 automotive and hardware stores. Under its HomeCentral brand (selling remodeling and appliance repairs), e-commerce sales via its website, and the strength of its 55-percent ownership in one of Canada’s top retailers (Sears Canada), Sears has become the model for retail recovery, adroitly adapting to customers’ needs and expectations. Improved signage, Take Me Home Today (TMHT) Products, changes to the in-store shopping experience, and more “value” priced products (including a price match policy) should afford Sears that important edge.]