Sears takes over 61 rival stores

US retailer Sears is acquiring 54 outlets from its rival Kmart for US$ 620 mio (€ 509 mio) and seven Wal-Mart stores. The stores will have home improvement departments. Most are expected to be converted to a new mid-size format oriented to the company’s Sears Grand stores. Their average retail area is approx. 7,800 m2, compared with a current average retail area of 8,400 m2 for Sears’ full-line stores.