As reported in financial publications today, Sears has sold the Craftsman brand to Stanley Black & Decker for $900 million. This is less than earlier expectations in 2016 as high as $2 billion. http://www.chicagobusiness.com/arti...ilyalert&utm_campaign=ccb-dailyalert-20170105 Despite being battered by its parent's travails and sold almost entirely through Sears, Sears.com, Sears Hometown and Outlet and Kmart stores, Craftsman remains a strong brand. Stanley President and CEO Jim Loree noted that Craftsman generated about $1.9 billion in annual retail sales. Mr. Loree expects sales to grow by $100 million each year for the next decade. Craftsman still holds the largest dollar share of the hand tools market among do-it-yourselfers and individual consumers, with about 27.6 percent for the year ended September 2016, says Tom Coffield, senior director of research at Stevenson Company, a Louisville, Ky.-based market researcher. Sears will continue selling Craftsman products, though it will no longer sell them to third parties including Ace Hardware and Meijer. LOOK at those outlets for potential clearance sales of Craftsman tools. In December, during 2016 Christmas, some Stanley and Craftsman tools were heavily discounted.
You need to find better "news" sources. This has been on the ZED since Thursday, and has more than 50 responses.
The original post appears to have been from Thursday... ??? I have been out of town on business and must have missed this.
It's a crying shame, Done in by their current crazy CEO Eddie Lampert. Check the sad story: http://www.businessinsider.com/sears-failing-stores-closing-edward-lampert-bankruptcy-chances-2017-1 Sears is losing millions, but their CEO is making millions off them. Big money CEO's are great for the health of American businesses! 73, Mark.
I stopped wasting my money on craftsman tools many years ago They started getting them made in China yet kept made in USA prices! Low grade made in China garbage!
Yeah, but they sure were nice back in the day. My wife lost my USA made ratchet wrench. I never should have given to her to use. I thought to myself I am never going to see this again... Bought that set with high school graduation money.
I remember years ago, my brother was driving down the road when all of the sudden he got a flat tire. He stopped to check out it and found half a screwdriver in his tire. The tire was shot, but there was a silver lining. The half screwdriver was a Craftsman with a lifetime warranty. He took it back to Sears, noted that it failed to provide complete satisfaction and got a new one free of charge.
Many of the small high volume tools from Snap On also come from China for many years. And their prices keep going up. Ive been a big fan of Craftsman since the late 50's and all were bought used....never been disappointed. My other hobby is antique vehicles, street rods, customs, and muscle cars plus I do most of the maintenance on my daily drivers so Im not your typical casual user.
