Sears (NASDAQ:SHLD) is once again stocking its shelves with paint.
The retailer announced that it will offer a variety of paint products in its stores for the first time in four years. Sears is hooking up with its Craftsman brand at a time when the home improvement market has experienced higher demand.
23 U.S. stores will carry Craftsman paints, as well as Weatherbeater and Easy Living products. Dean Schwartz, a company tools, lawn and garden executive said now is the right time for the company to re-enter the paint market, which it hasn’t done so since 2012.
Sears recently released its fiscal second-quarter report, which included an earnings-per-share loss of $2.03, which is better than the $3.48 loss in earnings per share that analysts had expected. The figure also topped the year-ago quarterly earnings loss of $2.40 per share.
Additionally, revenue came in at $5.7 billion for the period, beating the consensus estimate of $5.43 billion.
Sears is the owner of discount chain Kmart and the company announced back in May that it was looking to expand the presence of Kenmore, Craftsman and DieHard products outside both Sears and Kmart stores.
The retailer is in the midst of a turnaround effort that would help turn its recent losses into profits. The company is doing so by investing in advanced technologies and services that better equip consumers to buy goods online.
SHLD stock is down 2.3% Tuesday.
