My first thought would be why spin off the appliance repair, if you are still selling appliances. I can see closing out bath linens, etc. But sears does a lot of repairs for their lawn mowers, exercise equipment, etc.
It makes sense to get out of the shopping malls. If you can slim your operations and do it in a smaller store, then that is what I would do. I have a feeling the the malls will become a cross between a ghost town and a hell-hole in the future.
As the economy continues its downward slide (does anyone really think it'll get better?), the smaller mall stores will go belly up, leaving the weight on the anchor stores. Shoppers will move out, and homeless & gangs will move in. The shopping experience will be evading human excrement on the floor, and criminals in the parking lot.
How will Sears or Macy's or any of these places pay for the full price of insurance and security for the mall acreage (or even to keep the lights on in the parking lot) after Wet Seal, Zales, and the food court die? Here are some reviews
for a mall I knew as a kid. Even then it was filled with gang-bangers. They did a re-fit, and the reviews (from hard core shoppers) aren't impressive. There is a mall
in Oakland that basically closed up, and the county moved their offices there. Its reviews
Sears might be wise to capitalize on the Showrooming
phenomenon by just having displays of stuff that only sold through their chain, ordered online or on site, and delivered through their locations. Best
stores is bankrupt, but they did something like this at one time. With Amazon getting nailed for sales taxes more broadly (a trend that'll diminish on-line savings), Sears could compete by following the Best model. Limited showroom, good distribution logistics.
Anyway, it is raining here, and work is slow.
It'll be interesting to see what the municipalities will do with the empty malls that will fall into their lap with the ongoing commercial real estate slump. What a headache. I hope they saved up some of those property and sales taxes!