treerootCO
Rising Sun Member
- Joined
- Aug 22, 2005
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- 5,424
Too much?
SEARS Industrial?
- Thread starter treerootCO
- Start date
SteveH
Hard Core 4+
Ouch - that cracked wrench CAME that way? Sad. I can see that I will continue to troll pawn shops for high-end tools, such as I need them.
treerootCO
Rising Sun Member
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- Aug 22, 2005
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How about these for high quality tools? Picked up a set of "Allen" wrenches. USA made and now I can refer to them as Allen wrenches and not be corrected
The Knipex are German made. Gary was the first to show me these and I believe Joe at Slee has them as well. The smooth jaws are perfect for the spindle cap on the swing out of Slee rear tire carriers.
Allen Wrenches
Smooth jaw Knipex
The Knipex are German made. Gary was the first to show me these and I believe Joe at Slee has them as well. The smooth jaws are perfect for the spindle cap on the swing out of Slee rear tire carriers.
Allen Wrenches
Smooth jaw Knipex
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treerootCO
Rising Sun Member
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The Sears 299 piece socket set came in today. All are laser etched and made in the USA.
treerootCO
Rising Sun Member
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Just an FYI, www.Sears.com and www.shopyourway.com are third parties according to the Sears retail stores. If you buy something from www.sears.com, you cannot return it to the store for the price you paid. I went in with my receipts and they refused to refund the price I had paid online. After working with the store manager, he agreed that the Sears policy wasn't clear to the consumer and offered me shopyourway points to make up the difference.
Those smooth jaw Knipex pliers are really cool looking. Which size do you need for the spindle cap on the Slee tire carrier pivot? Not sure I can afford the full set like you.
treerootCO
Rising Sun Member
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The 10" and 12" are big enough for the Slee spindle cap. The 7" are too small.
Here is a wishlist I put together for some "inexpensive" tools. Compared to Mac, Snap-On, Cornwell, Blue Point, Matco, etc. the price is pretty reasonable.
Spreadsheet with clickable goodness
View attachment SearsTools.xlsx
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Sears Sells Craftsman Brand, to Close 150 Stores
The cash-strapped retailer will sell its iconic Craftsman brand to Stanley for about $900 million
Sears will continue to offer Craftsman-branded products through a perpetual license from Stanley Black & Decker, which will be royalty-free for the first 15 years after closing.
By ANNE STEELE
Updated Jan. 5, 2017 12:31 p.m. ET
Sears Holdings Corp. said it would close another 150 stores and sell its Craftsman tool brand for $900 million, as the cash-strapped retailer continues to shrink and battle slumping sales.
Sears is flipping the Craftsman brand to Stanley Black & Decker Inc., and it will license back the ability to sell Craftsman-branded products royalty-free for 15 years after the deal’s closing. The acquisition gives Stanley the rights to develop, manufacture and sell Craftsman-branded products outside of Sears.
At present, just 10% of Craftsman-branded products are sold outside of Sears. Stanley Black & Decker said the deal will help boost Craftsman sales in untapped channels.
“We intend to invest in the brand and rapidly increase sales through these new channels, including retail, industrial, mobile and online,” said Stanley Black & Decker Chief Executive James Loree. Stanley also recently signed a $1.95 billion deal to buy Newell Brands Inc.’s tools business.
A Sears spokesman confirmed the unlimited lifetime warranty on Craftsman hand tools made in the U.S.—“a hallmark of the brand for generations”—will be kept in place.
On Wednesday, Sears announced sweeping closures of 150 of its namesake and Kmart stores—which it called “a difficult but necessary step as we take actions to strengthen the company’s operations and fund its transformation.”
Many of the stores slated to be shut down have struggled financially for years but have been kept open to maintain local jobs in the hopes they would turn around. “But in order to meet our objective of returning to profitability, we have to make tough decisions and will continue to do so, which will give our better performing stores a chance at success,” the company said.
Shares of Sears jumped 3.5% in afternoon trading, while shares of Stanley rose 1.8%.
The sale and closures come amid Sears CEO Edward Lampert’s yearslong effort to revive Sears, including a recent $1 billion injection into the struggling retailer.
Mr. Lampert said the deal represents a significant step in the company’s transformation to a membership-focused business model. He called Stanley “a great owner that is committed to expanding Craftsman and helping it to reach its potential outside of its current channels,” he said.
On Wednesday, Sears said it obtained a $500 million loan secured by mortgages on 46 properties from affiliates of ESL Investments Inc., the hedge fund run by Mr. Lampert. That is in addition to a $300 million secured letter of credit that the retailer received from ESL affiliates last week.
ESL last week also entered into a nonbinding term sheet for a $200 million unsecured loan to Seritage Growth Properties, a real-estate investment trust that largely consists of Sears and Kmart stores.
Also Thursday, Sears said sales during the quarter so far have continued to be challenging. The company estimates same-store sales at Sears and Kmart for the first two months of the fourth quarter have declined 12% to 13%.
Stanley’s Mr. Loree said his company will expand its manufacturing footprint in the U.S., noting that the firm has “increased our manufacturing head count by 40% in the past three years.”
Stanley Black & Decker will pay Sears $525 million at closing, $250 million after three years, and annual payments on new Stanley Black & Decker Craftsman sales for 15 years. The license granted to Sears will remain royalty-free for 15 years, then 3% thereafter.
Stanley Black & Decker expects the sale of Craftsman branded products to contribute $100 million in sales annually for the next 10 years. The deal is expected to increase earnings by 10 cents to 15 cents a share in the first year, increasing to 35 cents to 45 cents by year five and 70 cents to 80 cents by year 10, excluding $20 million of deal-related costs.
http://www.wsj.com/articles/sears-sells-craftsman-brand-to-stanley-black-decker-1483623215
The cash-strapped retailer will sell its iconic Craftsman brand to Stanley for about $900 million
Sears will continue to offer Craftsman-branded products through a perpetual license from Stanley Black & Decker, which will be royalty-free for the first 15 years after closing.
By ANNE STEELE
Updated Jan. 5, 2017 12:31 p.m. ET
Sears Holdings Corp. said it would close another 150 stores and sell its Craftsman tool brand for $900 million, as the cash-strapped retailer continues to shrink and battle slumping sales.
Sears is flipping the Craftsman brand to Stanley Black & Decker Inc., and it will license back the ability to sell Craftsman-branded products royalty-free for 15 years after the deal’s closing. The acquisition gives Stanley the rights to develop, manufacture and sell Craftsman-branded products outside of Sears.
At present, just 10% of Craftsman-branded products are sold outside of Sears. Stanley Black & Decker said the deal will help boost Craftsman sales in untapped channels.
“We intend to invest in the brand and rapidly increase sales through these new channels, including retail, industrial, mobile and online,” said Stanley Black & Decker Chief Executive James Loree. Stanley also recently signed a $1.95 billion deal to buy Newell Brands Inc.’s tools business.
A Sears spokesman confirmed the unlimited lifetime warranty on Craftsman hand tools made in the U.S.—“a hallmark of the brand for generations”—will be kept in place.
On Wednesday, Sears announced sweeping closures of 150 of its namesake and Kmart stores—which it called “a difficult but necessary step as we take actions to strengthen the company’s operations and fund its transformation.”
Many of the stores slated to be shut down have struggled financially for years but have been kept open to maintain local jobs in the hopes they would turn around. “But in order to meet our objective of returning to profitability, we have to make tough decisions and will continue to do so, which will give our better performing stores a chance at success,” the company said.
Shares of Sears jumped 3.5% in afternoon trading, while shares of Stanley rose 1.8%.
The sale and closures come amid Sears CEO Edward Lampert’s yearslong effort to revive Sears, including a recent $1 billion injection into the struggling retailer.
Mr. Lampert said the deal represents a significant step in the company’s transformation to a membership-focused business model. He called Stanley “a great owner that is committed to expanding Craftsman and helping it to reach its potential outside of its current channels,” he said.
On Wednesday, Sears said it obtained a $500 million loan secured by mortgages on 46 properties from affiliates of ESL Investments Inc., the hedge fund run by Mr. Lampert. That is in addition to a $300 million secured letter of credit that the retailer received from ESL affiliates last week.
ESL last week also entered into a nonbinding term sheet for a $200 million unsecured loan to Seritage Growth Properties, a real-estate investment trust that largely consists of Sears and Kmart stores.
Also Thursday, Sears said sales during the quarter so far have continued to be challenging. The company estimates same-store sales at Sears and Kmart for the first two months of the fourth quarter have declined 12% to 13%.
Stanley’s Mr. Loree said his company will expand its manufacturing footprint in the U.S., noting that the firm has “increased our manufacturing head count by 40% in the past three years.”
Stanley Black & Decker will pay Sears $525 million at closing, $250 million after three years, and annual payments on new Stanley Black & Decker Craftsman sales for 15 years. The license granted to Sears will remain royalty-free for 15 years, then 3% thereafter.
Stanley Black & Decker expects the sale of Craftsman branded products to contribute $100 million in sales annually for the next 10 years. The deal is expected to increase earnings by 10 cents to 15 cents a share in the first year, increasing to 35 cents to 45 cents by year five and 70 cents to 80 cents by year 10, excluding $20 million of deal-related costs.
http://www.wsj.com/articles/sears-sells-craftsman-brand-to-stanley-black-decker-1483623215
LARGEONE
Rising Sun Member
Sears is DONE.
Craftsman was about the only thing they still had going for them...and even Crapsman is losing (has lost) its edge.
Craftsman was about the only thing they still had going for them...and even Crapsman is losing (has lost) its edge.
Agreed. Selling Craftsman is the final turn on the Sears death spiral.
The interesting thing is that Stanley could rejuvenate the Craftsman brand. They own DeWalt and have maintained the quality of that brand. It might be that Craftsman tools outlive Sears.
DaveInDenver
Rising Sun Ham Guru
I doubt Black & Decker could do anything but good for Craftsman at this point. Sears was squeezing as much out of it as possible.
coloradobound
Hard Core 4+
There's been rumors of selling off kenmore and diehard as well.
Diehard might be worth something. I'm dubious that Kenmore has much brand prestige.
DaveInDenver
Rising Sun Ham Guru
I think it does in the same way as Craftsman. It's familiar to many people and the implication is that you'll be able to get replacement parts for a long time. It's not like Craftsman is viewed as top of the line against Snap-On or MAC. Similarly to non-tool people a Kenmore is familiar but not necessarily comparable to a Subzero or something but still you should be able to rely on them without overthinking it.
coloradobound
Hard Core 4+
Trust me, you can't rely on support from Sears for kenmore, etc. .That part sucks. I opened up the new appliance concept store in Fort Collins and trying to help customers was nearly impossible. The repair and support people were all overseas for the phones, so hard as hell to understand them. And repair orders etc got lost. So we got the pissed off customers back in the store yelling at us.
PabloCruise
Hard Core 4+
What store is that?
coloradobound
Hard Core 4+
Appliance only (on display) by the foothills mall. New concept for the company. It's a virtual full line store, as in they can get anything Sears, just won't have it right away. What pissed off people was they'd get the switchboard, where the store looks like a full store on their computer, tell people something was on display or available, and they'd come in expecting it to be there.
coloradobound
Hard Core 4+
A video of the store. Friend and I were assistant managers there and helped open the store. We both quit because of his bad the support was and how piss poor it was setup.
https://youtu.be/hBBn7jKl-oA
https://youtu.be/hBBn7jKl-oA
PabloCruise
Hard Core 4+
Okay. Too bad you are there no more. One day I need to replace the POS dishwasher that came with our house...