Sears Sells it's Craftsman Line to Stanley B&D

[T-Mo-(Moderator) 4,513]

http://www.ien.com/operations/news/20848207/sears-sells-craftsman-brand-to-major-toolmaker

 

There was a report last month that Sears and Kmart was in trouble after 5 straight quarters of losses. That article also said that Sears was looking for a buyer for their Craftsman line and that they were looking over the offers. Looks like they found a buyer.

[nylyon-(Admin) 7,342]

I'm kind of glad because the Craftsman line is good quality (yes I know sears doesn't really make the tools) and I hope that Stanley is able to distribute them and keep the tools easy to get!

 

[Mike'sHorseBarn 3,014]

I read this morning that Sears will still be selling the craftsman line of tools, but in the same report they were closing all the Sears stores around me      Guess if i want something craftsman i will have to order online from now on. 

[T-Mo-(Moderator) 4,513]

Stanley owns Black and Decker or maybe it's the other way around.  Also, from what I read, Stanley B&D owns Dewalt.

[nylyon-(Admin) 7,342]

http://www.stanleyblackanddecker.com

 

[pfrederi 17,910]

So they now have about everybody...except Milwaukee, and Snapon

 

 

Edited January 5, 2017 by pfrederi

[ztnoo 2,298]

The only constant in life is change........

 

http://www.chicagobusiness.com/article/20170105/NEWS07/170109931/sears-in-deal-to-sell-craftsman-brand#utm_medium=email&utm_source=ccb-breakingnews&utm_campaign=ccb-breakingnews-20170105

 

http://www.chicagobusiness.com/article/20170105/NEWS07/170109931/lamperts-latest-bid-to-prop-up-sears-sell-craftsman#utm_medium=email&utm_source=ccb-breakingnews&utm_campaign=ccb-breakingnews-20170105

 

Sears needs $1.5 billion in capital to stay afloat in 2017.

I know a guy who went to work for Sears in 1972 when they were the 800 pound gorilla in middle class retailing.

He sold ALL his stock in 1998 for $65 per share.

This morning the stock was up 4.63 percent this morning at $10.84 per.

He's feeling like the Wizard of Wall St. today.............at the age of 65.

[953 nut 55,909]

Our Ace Hardware has been selling Craftsman for a few years.   Don't like to see all of the consolidation going on; it never seems to benefit the customer. Several years ago at Sears I wanted to return a Craftsman ratchet for replacement, they wanted to give me a repair kit; I told them I would wait while they installed it! They said that isn't how it works any more, I began loudly protesting and demanded to see the store manager; guess what, they handed me a new ratchet.

   The Husky line being sold by Home Depot offers a better warranty than most and have been good as gold on replacement.

[ACman 7,621]

 , nice not to drive 45mins to a Sears...but it's sad to to see an company that's been an American staple since 1886 have to do this . Just think they were the mail order store before the internet . I like checking some of their early catalogs and looking at the cool stuff inside . How many of us here couldn't wait for the new catalog and the Christmas catalog  to show up in the mail box .

[JAinVA 4,623]

For many years I bought tools and equipment from Sears.Go to the local store and order what you wanted.When it showed up you went to the loading dock, got the order and went home.When they did away with the catalogs is when I quit buying from them.As far as I was concerned that was the dumbest move ever.If an item wasn't on display at the brick and mortar store you had no idea it was available.With the catalog at least you knew what they had to offer.JAinVA 

[Docwheelhorse 2,682]

Next to Wheel Horse my "brand" loyalty is in Sears and its lines.... Worked PT for them for several years.

 

Just like all of us watched the last Wheel Horse roll off the line I fear Sears is the "friend dying of cancer". You feel helpless and nothing can be done.

 

When the last Sears closes in CT Ill sit in the parking lot and mourn a lifelong "friend"

 

Probably sounds weird but I hope a few of you understand.

Tony

 

 

[elcamino/wheelhorse 9,357]

Always purchased Craftsman tools since I was a teenager ( back when we rubbed sticks together to get fire started). I wonder if the deal only includes the tools. Sears brands a lot of products with "Craftsman". Since the merger of KMart and Sears the company has been circling the drain.

[Daddy Don 907]

Going to the wayside just like Wards did. China has taken over.

[WildHorses 382]

I worked for them for 13 years 2000-2013 and saw a completely incompetent upper management run the company into the ground. Eddie Lampert is only looking out for himself and is just trying to get as much money out of the remaining company as he can. It's a sad end to a great American company. 

 

I've always liked Craftsman tools but they didn't adapt fast enough to keep up with harbor freights prices on cheaply made Chinese tools and weren't high enough quality to compete with professional tools like SnapOn, they got stuck in the middle where few were spending money. Hopefully Stanley can put some innovation and marketing back into the Craftsman brand and it can live on. Stanley really has a stable of brands now if the picture above is correct.

[c-series don 8,875]

I can still remember the slogan "guaranteed not to rust,bust, collect dust, or otherwise be defective!"

[953 nut 55,909]

8 hours ago, danielbaute said:

completely incompetent upper management run the company into the ground

They weren't incompetent, they were greedy bloodsuckers who only cared about their own bonus checks! They knew exactly what they were doing. Once the rape of Sears is complete they will move on to the next victim.    

[JC 1965 1,530]

I herd on the news last night that Sears sold the Craftsman brand for 900 million. Wonder if the new owner will still honor the warranty on Craftsman tools. They also said they were closing 150 stores. I don't know yet if the store I visit  ( about 10 miles away  ) will be one of them.     

[ztnoo 2,298]

Is your local Sears or Kmart among 150 stores to be axed? See the list

 

http://www.usatoday.com/story/money/2017/01/05/sears-kmart-stores-closing/96195504/

[ztnoo 2,298]

With Craftsman sale, Sears takes another step toward the grave

 

http://www.chicagobusiness.com/article/20170105/NEWS07/170109930/with-craftsman-sale-sears-takes-another-step-toward-the-grave

[ohiofarmer 3,276]

They do not really honor the warranty anymore on some hand tools. I would used to take in hammers with broken handles for replacement, but the the last craftsman hammer was a take your pick swap. i got a really high end one, but no more guarantee. People did abuse the system often breaking on purpose just to get a new one.

 

 

 Sears installed services--now that is another story. After complaining about having to throw in too much free work on kitchen installs, i began to insist on meeting with the salesman before commencing the work. The salesman produced the install sheet and it was re-written by the office staff. The trouble is, they inserted a thin blocking sheet of metal so my carbon copy did not match the others and i was expected to eat the extra work. Sears already got 33% of the labor,and i wonder who got the other 66% of the stuff i had to do to keep the customer happy. After i caught them in the act, i got the rest of what was owed. i did one more job and never got called back for any more work, It maybe was just the people at Dayton Ohio, but after talking to a salesman who worked for Installed Sales and retired years earlier,. the corruption was deep and wide.

 

 I also carried a balance for several months on a Discover card. I was mysteriously signed up for a 9.99 a month "credit protect" service and my hundred dollar credit became zero. Partly my fault for not checking the monthly balance. I raised holy H about it but did not know the credit laws as well as i do now. I still have a lot of fun relating the story too loud,too long,and too much attention drawn to any Sears cashier unfortunate enough to ask me if I wish to open a credit account. Just about the time mall security shows up is when i decide to calm down .

 

 

 I am old enough to remember the glory days of Downtown Dayton retailers. We went once a year at Christmas time and Mother wore white gloves. All of the women did. Riding an escalator was just amazing.with three giant department stores competing for business

[ztnoo 2,298]

A history of the rise and fall of Sears, the retail behemoth.

Written April 21, 2012 .

Talk about a Crystal Ball forecasting an outcome.......

 

Sears – where America shopped

http://www.chicagobusiness.com/article/20120421/ISSUE01/304219970/sears-where-america-shopped

Edited January 7, 2017 by ztnoo

[AMC RULES 37,134]

Seems this old ad campaign...  

will have a whole new meaning now.

  

 

Edited January 6, 2017 by AMC RULES

[DennisThornton 4,769]

Our local Sears closed several months ago.  I stopped spending much there years ago but I'm still saddened to see them failing & for the Craftsman line to falter.  Sears had their up & downs and perhaps never was the best but usually of at least good quality.  

 

The times they are a changing... 

[Sarge 3,463]

The writing on the wall came years ago when they increased the number of Chinese and Taiwan made tools/equipment . Everything I've bought from them in the last 10yrs turned out to be junk - I still have many of my older tools and equipment built years ago that is in service , including a very old Craftsman 12" band saw and stand - which still works excellent for it's size and original cost . Sears is just another victim of the Corporate ideal we have now and runaway greed that is driving how things are done these days - no one cares except how much money can be made from a known brand name - and it's bled down into even the smallest of markets . Try to buy a good hydraulic jack , gear puller , drill press ( I just acquired a 1940-50's Clausing/Atlas !) or anything else commonly used by the home craftsman - good luck with that . Now , Made in America means "assembled from domestic and imported goods" - wtf ??

So...I buy old stuff , and rebuild if necessary . Otherwise , it's German and other brands I look to for lasting quality and parts availability .

 

I'll never forget the day the Mac tool salesman told my Dad he couldn't warranty a $500 torque wrench that snapped the square drive off because they no longer carried that model - right after they were acquired by Stanley ...he chased the guy out to the tool truck with that wrench and had full intention of burying it in the salesman's skull , he never was allowed in the shop again , ever . Since that day I have never even considered buying from Mac and will not recommend them to anyone .

Seems like folks forgot what loyalty and quality is - price is King and quality isn't even considered for the most part .

 

Rant off...

 

Sarge

[ohiofarmer 3,276]

Maybe this is sacrilege, but Harbor freight might have the strongest warranty out there--with limits. The Pittsburgh brand of hand tools is guaranteed forever, BUT you must have the receipt.I am thinking that not many people will be able to hang on and keep organized those old receipts that fade out over time and be able to turn them in twenty years later. Craftsman warranty was just take it back and get a new one. I once found [buried on a job site] a completely dog chewed Craftsman screwdriver that i used as a chisel or something to pry with and it finally snapped. Somehow it got left outside.... I got questioned a bit about when i bought it and stuff. I just told them i found it when my Craftsman lawn mower spat it out. At a rental property. The complete truth. Yep, they gave me another.

 

 I am not sure if any small engine manufacturer has an easier warranty than Predator engines from Harbor Freight. First warranty is 90 days. Add to that one or two years for a reasonable price. i was really leery of buying my  first 14 horsepower Chinese, so I got the warranty, but the engine was very predictable and always starts on the second pull. However, the electric starter puked shortly after purchase. It started so easily that i did not really care about whether I used a battery start and the 520 repowered Wheelhorse just kept hammering along. I took the engine back on the last week of the warranty and they gave me another just on my word and did not examine the old one. Then they offered another two year warranty for purchase. So really I just look at a Harbor Freight  engine as something you could buy once and then rent forever with that warranty.. One tiny issue like an oil seep is all it takes to return it.

 

 One of my half inch drive Craftsman ratchets quit ratcheting, so i need to take it in and see what happens. I remember years ago when i took one in that a sales clerk fixed it on the spot. SHE did it pretty quickly as well.

Edited January 12, 2017 by ohiofarmer