Sears Roebuck and Co. (Hoffman Estates, Ill.) will launch its newly acquired Lands'End clothing line this weekend.
Its target, according to a report in Crain's Chicago Business, is to get the goods into select stores by Friday, Nov. 29, 2002, the day after Thanksgiving that is traditionally the biggest shopping day of the year.
Down coats, sweaters, shoes and other Lands'End goods have been reportedly trickling into the stores for the past week and are slated to be in 184 Sears stores in 10 cities by Sunday, Dec. 1, 2002.
According to Crain's, Sears is counting on Dodge, Wis.-based Lands'End Inc. — which it bought in June for $1.84 billion — to pull new shoppers into its apparel departments and reverse a steady decline in sales that began in early 2001.
Sears aims to ring up $870 million in Lands'End's sales by next fall, when the merchandise will be rolled out to all 867 Sears department stores. The retailer expects outerwear, shoes and women's swimsuits to produce the biggest volume.
Crain's says analysts predict the line has the clout to generate $2 billion in annual sales for Sears stores. If the move is well-executed, reports Crain's, it could revive Sears'$5.44 billion apparel business. Sears has been losing customers to Target, Kohl's and Wal-Mart for several years and the Land's End initiative is only the latest in a series of makeovers to try winning them back.
“Lands'End is a better in-house brand than Sears has ever had,” an analyst told Crain's. “Their hope is to do as much as they possibly can with it. It's an unprecedented undertaking.”