Sears mulls Grand growth
By Staff -- Home Textiles Today, 9/8/2003 12:00:00 AM
NEW YORK —
Although the new Sears Grand format will remain in "pilot mode" for two years following its debut next month in Salt Lake City, the off-the-mall prototype could eventually replace up to 300 undersized mall stores in the retailer's portfolio, chairman and ceo Alan Lacy said last week.
Lacy, who addressed the Goldman Sachs Retailing Conference here, added: "It's too soon to know how many we could open."
The 150,000-square-foot format, which will include non-perishable foods, CDs, DVDs and toys, could eventually be used to "upsize" or relocate smaller stores that can't comfortably carry a full-line mall store's assortment. Lacy estimated there are 300 such units in the chain, about 38 percent of the full-line store base.
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