Sears to Begin Selling Paint in Stores Again

By Tess Stynes 

Sears Holdings Corp. said it would begin selling paint again after a roughly four-year hiatus and bring its Craftsman brand into the paint category for the first time, as the struggling retailer aims to benefit from stronger demand in the home-improvement market.

The Hoffman Estates, Ill., retailer initially plans to stock shelves at 23 U.S. stores with paint brands including the Craftsman, Weatherbeater and Easy Living labels.

"We are confident the time is right to re-enter the category," which Sears stepped away from in 2012, said Dean Schwartz, a Sears tools, lawn and garden executive. After the initial rollout, the retailer plans to reintroduce paint to all of its retail locations.

The move comes as home-improvement retailer Home Depot Inc. recently raised its outlook for the year after posting strong second-quarter results. Rival Lowe's Cos. also received a boost from an improving housing market, though not to the same degree.

Sears, which also owns the Kmart discount chain, in May said that it was exploring increasing the availability of its Kenmore, Craftsman and DieHard wares outside of Sears and Kmart stores. In June, Sears unveiled plans to put its DieHard brand on automobile tires, the brands first major expansion in more than a decade.

The company has been trying to turn itself around by spending on new technologies and services to better equip as consumers buy more goods online. Sears efforts to return to profitability also have included cost-cutting and store closings. Like other retailers, Sears has faced challenges from a highly promotional environment.

Write to Tess Stynes at [e-mail]

(END) Dow Jones Newswires

August 30, 2016 09:25 ET (13:25 GMT)

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