GolfSpy Barbajo Posted January 5, 2017 Share Posted January 5, 2017 Fascinating story - Sears is shedding what may be its biggest asset for a relative bargain price. Hey, if adidas can sell TaylorMade, Sears can sell Craftsman... SEARS SELLS THE CRAFTSMAN BRAND TO STANLEY BLACK & DECKER FOR $900 MILLION 1 HOUR AGO • ENTERTAINMENT, NEWS Posted by Craig Fitzgerald It could be the end of the line for Sears, Roebuck and Co., the legendary retailer that started out selling shovels and pickaxes to pioneers through its mail order catalog. Today, Sears announced that it was selling the Craftsman brand for $900 million to Stanley Black & Decker. For many consumers that have watched Sears degrade from a retail powerhouse to a slightly upgraded Dollar Store, the Craftsman brand was about the only reason left to ever enter a Sears location. With the sale to one of the brand's chief competitors — Stanley Black & Decker — the end may be in sight for Sears. There's a glide path that allows Sears to make some money off the deal for the near future, according to the Chicago Tribune, which reported the story this morning. “Stanley will pay $525 million at closing, $250 million after three years, and make annual payments on new Craftsman sales for 15 years, the companies said in a statement Thursday. Sears will continue to sell Craftsman products at its stores. The license to Hoffman Estates, Illinois-based Sears will be royalty-free for 15 years, and then generate 3 percent afterward.†The trouble for Sears is that you can only do a deal like this once, maybe twice if there's any brand equity left in the Kenmore line of appliances. It's also not a lot of money for a brand as legendary as Craftsman. New Britain, Connecticut-based Stanley Black & Decker just paid twice that much for the Irwin and Lenox brands of tools from Newell Brands, Inc. for $1.95 billion just a few months ago. Irwin tools hang in just about every tool aisle in the country, providing locking pliers, chisels and other hand tools, along with once hard-to-find tools like screw extractors and rounded bolt extractors. Lenox is a massive provider of cutting tools, saw blades and utility knives. Neither are as recognized as Craftsman. Sears did allow some sales of its Craftsman branded tools at other retailers prior to the sale. Ace Hardware, for example, sold Craftsman tools in its stores. But that only accounted for about 10 percent of all of Craftsman's retail sales in any given year. This deal blows that wide open. Stanley Black & Decker sells tools everywhere, from the last few remaining mom and pop lumber yards and auto parts stores, all the way up to major retailers like Home Depot. As soon as consumers know they can purchase a Craftsman tool without entering the depressing husk of a once-proud store like Sears, they'll shop elsewhere. It's good news for American manufacturing, according to Stanley Black & Decker's CEO. “To accommodate the future growth of Craftsman, we intend to expand our manufacturing footprint in the U.S.,†Stanley Chief Executive Officer James M. Loree said in the statement. “This will add jobs in the U.S., where we have increased our manufacturing headcount by 40 percent in the past three years.†What's in the bag: Driver: TSR3; DynaPWR Carbon FW Wood: DynaPWR 3-wood; TSR 2+ Hybrids: PXG Gen4 18-degree Utility Irons: ZX MkII 20* Irons:; 699/699 Pro V2 Combo; D9 Forged; MT86 (coming soon!); VIP 1025 V-Foil MB/CB; Wedges: RTX6 Zipcore Putter: HB Soft Milled 10.5; Newport Special Select; Willamette, BB8; 8802; MATI Monto Ball: Tour B RXS; Z-STAR Diamond; Triad Stat Tracker/GPS Watch: Follow @golfspybarbajo Link to comment Share on other sites More sharing options...
Golfspy_CG2 Posted January 5, 2017 Share Posted January 5, 2017 Interesting, I've never been a big do it yourself guy, but whenever I bought tools, Craftsman was always the first brand I looked at. And I of course bought the obligatory 130 piece set or something like that, that came in the hard case. Just because I'm a guy, and guys have tools...right G430 Max 10K TSiR1 15.0 Aldlia Ascent 60g TSR2 18.0 PX Aldila Ascent 6og TSi1 20 Aldila Ascent Shafts R T350 5-GW SteelFiber I80 SM10 48F/54M and58K S159 48S/52S/56W/60B Select 5.5 Flowback 35" ProV1 Play number 12 Link to comment Share on other sites More sharing options...
evershady Posted January 5, 2017 Share Posted January 5, 2017 Is not the $70 million deal Dick got buying Golf Smith, but that's still a pretty sweet deal for them. Sears is not going to last much longer now. No reason to go into that place anymore. Sent from my SM-G930V using MyGolfSpy mobile app Chippewa Falls Wisconsin 10.3 Index Right Handed What's in the bag: Driver: FG Tour F5 8* Fujikura Speeder 757 Evolution Tour Spec X-flex, Anser 8*, Black Grafalloy Bi-Matrix X-Flex; King LTD Pro Orange Grafalloy Bi-Matrix X-Flex FW Wood: FG Tour F5 15* Fujikura Speeder 757 Evolution Tour Spec X-Flex Anse14*, Fujikura Speeder 757 US Open Edition , X-Stiff Irons: FG Tour V4 2 utility Iron, 3-PW, +0.25, 2* Upright, True Temper Dynamic Gold X-100 Wedges: FG Tour PMP Gun Blue 52* bent to 51*, 56* True Temper Dynamic Gold X-100 Shafts E2 35", 8802 35.5", Scottsdale, Wolverine C 35" Anser Milled, Anser 2 34" Link to comment Share on other sites More sharing options...
Golfspy_CG2 Posted January 5, 2017 Share Posted January 5, 2017 Is not the $70 million deal Dick got buying Golf Smith, but that's still a pretty sweet deal for them. Sears is not going to last much longer now. No reason to go into that place anymore. Sent from my SM-G930V using MyGolfSpy mobile app At our Mall, we park outside Sears as it's always the most empty section of the entire mall parking, and walk through the store on the way to the food court. Several years ago when they carried some Lands End stuff the Fiance would stop, and for a year or two they had a small Edwin Watts Golf shop inside it as well. That didn't last long, but I would at least stop occasionally and browse or take some swings on the simulator. But you're right, in it's current state I can't see it lasting much longer. G430 Max 10K TSiR1 15.0 Aldlia Ascent 60g TSR2 18.0 PX Aldila Ascent 6og TSi1 20 Aldila Ascent Shafts R T350 5-GW SteelFiber I80 SM10 48F/54M and58K S159 48S/52S/56W/60B Select 5.5 Flowback 35" ProV1 Play number 12 Link to comment Share on other sites More sharing options...
StrokerAce Posted January 5, 2017 Share Posted January 5, 2017 Such a sad demise. I remember reading about when Sears sold mail order houses in their catalog.They had this HUGE catalog back when I was a kid and I remember digging through that thing when I was at my grandparents house. It was the size of a phone book.Proud to say that I have - and still use - many Craftsman tools. They are very well made.Without Lands' End and Craftsman there really is no reason... this will be a quick ending. Driver- Cobra Aerojet LS Woods- Cobra LTD 3w 15*, 5W 19*, F9 24* Irons- XXIO X (6-A) Wedges- Callaway Jaws Raw (54/58) Putter- Bettinardi BB56 Ball- Maxfli Tour X Buggy- Motocaddy M7 GPS Remote Electric Caddy Bag- Motocaddy Dry-Series Proudly testing for 2024: Link to comment Share on other sites More sharing options...
PlaidJacket Posted January 5, 2017 Share Posted January 5, 2017 I've been expecting this sale for a long time. I'm glad the tools survive. I have many of them. Just today I read locally a neighboring city is closing their Mall Sears. Our city will be next I bet. It's dead anyway. My Sun Mountain bag currently includes: 771CSI 5i - PW and PFC Micro Tour-c 52°, 56°, 60 wedges EXS 10.5*, 929-HS FW4 16.5* Willimette w/GolfPride Contour Link to comment Share on other sites More sharing options...
silver & black Posted January 5, 2017 Share Posted January 5, 2017 Craftsmen tools have been mediocre for years (not the old stuff) so, they still will be...lol. Link to comment Share on other sites More sharing options...
fozcycle Posted January 6, 2017 Share Posted January 6, 2017 Sad, very sad indeed. Sent from my iPad using MyGolfSpy Driver: 0311 XF 10.5* w/Project X Cypher 40 gram Senior shaft or 0811 XF 12* w/Evenflo Riptide CB Senior shaft Fairways: 0211 5W & 7W w/ Evenflo Riptide CB regular shaft and Tour Edge E521 9W w/Fubuki HD50 regular shaft Hybrid: None in bag at the moment Irons: Titleist T300 5-PW w/Fubuki MV Senior graphite shafts w/Golf Pride Tour Wedges: Edison forged 49*, 53* and 57* wedges with KB PGI Senior shafts(80 grm). Putter: 33” Evnroll ER6R or ER2 or Bellum Winmore Model 707, or Nike Method Core Drone w/Evnroll Gravity Grip Bag: Vice cart bag(Black/Lime). Ball: Snell MTB Prime X, Maxfli Tour/S/X CG, Titleist Pro V1x or Titleist TruFeel Using Shot Scope X5 and Pinned Rangefinder Link to comment Share on other sites More sharing options...
SCC4380 Posted January 6, 2017 Share Posted January 6, 2017 It is sad. Craftsman was a good brand. Sears has had a slow and painful demise. Sent from my MotoG3 using MyGolfSpy mobile app Link to comment Share on other sites More sharing options...
SuperDave Posted January 6, 2017 Share Posted January 6, 2017 Funny, it makes sense. I was in Lowe's 4 days ago and saw some Craftsman tools. Sent from my SM-G920V using MyGolfSpy mobile app Link to comment Share on other sites More sharing options...
MDGolfHacker Posted January 7, 2017 Share Posted January 7, 2017 Sad to see Sears slowing going under. Loved the earlier craftsman tools as that stood for quality, but as mentioned previously, there new stuff just isn't made the same anymore in terms of quality. I too looked through the Sears catalogs when I was younger and my parents shopped there regularly. They just haven't been competitive in the retail landscape in a long time. MDGolfHacker TSssWhat's In This Lefty's Bag? Driver: TSR2 11° Project X HZRDUS Black 4G 60g 5.5 Flex Fairway Woods: F8 3W Project X Even Flow Blue 75g shaft Fairway Woods: Hybrid: TSR2 18° Graphite Design Tour AD DI-85 Shaft Irons: 2021 T200's 4-GW AMT RED shafts Regular Flex Wedge: Tour Satin RTX 4 Wedges in 52° and 56° 2 Dot Putter: Gray Matter TDP 2.2 32.75" Bag: Three 5 Ball: PRO V1 / Z*Star RangeFinder: In search of new range finder Social Media: Facebook: MD Golfhacker Twitter: @mdgolfhacker Instagram: mdgolfhacker Link to comment Share on other sites More sharing options...
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