logo
Miami's last Sears store just added a new hands-on showroom. Take a look

Miami's last Sears store just added a new hands-on showroom. Take a look

Miami Herald4 hours ago
The last Sears store in South Florida, one of only two left in the state, is trying a familiar name to bring customers inside.
The Kenmore appliances brand, associated with Sears for more than a century, opened a new 3,000-square-foot showroom inside the 'Coral Gables Sears' on the Miami side of the city border at 3655 SW 22nd St.
Kenmore, like Sears, is owned by the Illinois-based holding company Transformco.
The Kenmore Studio hands-on showroom, on the first floor of the two-story Sears that started business in 1954, offers a 'hands-on showroom experience,' according to the company. The showroom opened July 31.
Customers can outfit their kitchens with new stoves, dishwashers, refrigerators and countertop appliances; their laundry rooms with washers and dryers; yards with barbecue grills; and throughout the home with an assortment of small appliances.
The Sears at Coral Way and Douglas Road may give way to a mixed-use development of retail and residences in a plan approved by the city of Miami in April. The store sits on land owned by RK Associates, which listed it for sale in May.
MORE: Last Sears store in South Florida could disappear. Here are the plans
The Sears store already sold many of these Kenmore products. But the focused Kenmore Studio is designed to make it easier to get help in finding what you need and making a purchase.
Kenmore Studio features four zones: Kitchen, Laundry, Cooking and Outdoor Living. The merchandise zones are housed in one location in the store with workers on hand to help potential customers, contractors and browsers test, learn and interact with the products. The studio also can offer customers access to Sears Home Services, including repair consultations and warranty guidance.
Is the Kenmore Studio a leap of faith for a store that seems on life support? Sears has no plans to open a Kenmore Studio inside its only other Florida store in Orlando, according to Kenmore Chief Executive Officer Sridhar Solur.
'We chose Coral Gables because it's a vibrant, design-conscious community with a strong homeowner base that values quality, culture, and function,' Solur said in an email interview with the Miami Herald.
'This is Kenmore's first-ever dedicated showroom, and we're using this as a test model to build something immersive and modern. Our focus is not on Sears' broader strategy, but rather on giving our customers a space where they can interact with Kenmore products in a meaningful way.'
This Studio inside the 'Gables Sears' showcases Kenmore's latest technologies that simplify everyday living, Solur said.
'If you're looking for a dishwasher, a team member will walk you through your options, answer questions and help you understand which product fits your needs. From there, we arrange the rest: purchase, delivery, installation and even warranty registration if needed.'
What happens if Sears, which only has eight stores nationwide, including the two in Florida, disappears? Will customers still get their service through a warranty?
Solur cited Kenmore's longevity since 1913. Service and warranty support for Kenmore major appliances is administered by Sears Home Services, which operates independently nationwide, he said.
'Kenmore stands behind the products we make, always has, always will,' Solur said.
Transformco didn't respond to the Miami Herald's request for information and comment.
Coordinating the purchase, delivery and installation of appliances should take a few business days, depending on the home location and the Studio's inventory availability, Solur said.
'We don't just sell products. We support the full journey from decision-making to satisfaction,' the CEO said. 'And we're here after the sale, too.'
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

HealthStream: Q2 Earnings Snapshot
HealthStream: Q2 Earnings Snapshot

Yahoo

time5 minutes ago

  • Yahoo

HealthStream: Q2 Earnings Snapshot

NASHVILLE, Tenn. (AP) — NASHVILLE, Tenn. (AP) — HealthStream Inc. (HSTM) on Monday reported net income of $5.4 million in its second quarter. On a per-share basis, the Nashville, Tennessee-based company said it had profit of 18 cents. The provider of internet-based educational and training content for health care professionals posted revenue of $74.4 million in the period. HealthStream expects full-year revenue in the range of $297.5 million to $303.5 million. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on HSTM at Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Philz Coffee sold to private equity firm
Philz Coffee sold to private equity firm

Yahoo

time5 minutes ago

  • Yahoo

Philz Coffee sold to private equity firm

This story was originally published on Restaurant Dive. To receive daily news and insights, subscribe to our free daily Restaurant Dive newsletter. Dive Brief: Philz Coffee will be acquired by private equity firm Freeman Spogli, with the transaction expected to close Aug. 6, the companies announced Monday. The 77-unit coffee chain will continue to operate under the leadership of CEO Mahesh Sadarangani, who joined the brand in 2021, according to the press release. Terms of the deal were not disclosed, but Mission Local, a San Francisco-based news outlet, reported last week that Philz was in the process of selling itself for about $145 million. Dive Insight: Freeman Spogli has invested in a number of restaurant concepts over the years, according to the press release, including El Pollo Loco, Popeyes and First Watch. Sadarangani said that this restaurant investment experience made the private equity firm an ideal partner for the coffee chain, which is looking to expand its store count. Philz has been backed by private equity of some kind for more than a decade and the acquisition is not a major change for the brand, according to an FAQ website Philz set up about the acquisition. 'We want to reassure all employees that we have no plans to make any changes to the team. It is expected that benefits, pay, raises, hours, and promotions will continue as the company has operated historically,' the coffee chain wrote According to the FAQ, the company 'will be paying a thank you bonus to each and every team member in our stores, roasting facility, and home office.' A number of former employees — 10 according to the FAQ — will lose the value of stock purchased at a higher price some years ago. The size of the thank you bonus was not disclosed. 'There are no plans to close stores, and in fact we have an exciting pipeline of new store openings planned over the next 24 months,' Philz wrote. 2025 has seen a relatively high level of restaurant M&A activity, despite the macroeconomic headwinds buffeting the industry. Since the start of June: Dave's Hot Chicken sold a majority stake to Roark Capital. Krispy Kreme offloaded a $175 million stake in Insomnia Cookies. Brix Holdings was bought by a Friendly's franchisee. Olo sold itself for $2 billion; SPB Hospitality sold off one of its brands. Leichtman Levine Capital Partners bought Shipley Do-Nuts. With Darden considering a sale of its troubled Bahama Breeze brand and Jack in the Box exploring strategic alternatives for Del Taco, the summer of 2025 could end up being an exceptionally busy time for the restaurant industry in terms of mergers and acquisitions. Such investor appetite for the industry comes at an interesting moment. Same-store sales for many major chains are down, and real estate transactions — especially for casual dining brands — remain depressed. With recent major downward revisions to employment projections, looming tariff trouble and consumer reticence yielding lower tips, it's unclear how long investor interest in new concepts will remain strong. If economic trouble becomes serious enough, it's likely that more M&A deals will involve devalued assets, as seen in Hooters of America's recent sale. Sign in to access your portfolio

Xoma strikes deals to buy struggling biotechs HilleVax, Lava
Xoma strikes deals to buy struggling biotechs HilleVax, Lava

Yahoo

time5 minutes ago

  • Yahoo

Xoma strikes deals to buy struggling biotechs HilleVax, Lava

This story was originally published on BioPharma Dive. To receive daily news and insights, subscribe to our free daily BioPharma Dive newsletter. Xoma Royalty Corporation on Monday announced a pair of agreements to acquire biotechnology companies HilleVax and Lava Therapeutics, which have both struggled since going public several years ago. Xoma offered $1.95 per HilleVax share to investors in that company, as well as rights to any additional cash HilleVax holds above roughly $103 million at deal closing, a portion of any savings on a Boston building lease and 90% of any proceeds from the sale of HilleVax's norovirus vaccine programs. HilleVax went public in 2022 with plans to develop a vaccine for moderate or severe acute gastroenteritis. Co-founded by Tadataka Yamada, a former Takeda Pharmaceutical executive, and Frazier Life Sciences, it raked in $200 million to progress a vaccine it had licensed from the Japanese pharmaceutical company. HilleVax's value has plummeted over the past two years, however, after a mid-stage trial showed its vaccine was ineffective, causing the company to halt development of its lead program in infants, cut 40% of its staff and seek strategic alternatives. For Lava, Xoma is paying at least $1.16 — and potentially up to $0.08 more — per share of the Dutch company. It is also offering a contingent value right worth 75% of net proceeds from its partnered programs and any sale of its wholly owned pipeline assets. 'We believe the structure of this transaction has the potential to benefit both Lava and Xoma Royalty shareholders over time,' Xoma CEO Owen Hughes said in a statement on the Lava deal. Lava makes a type of bispecific antibody for cancer called gamma delta T cell engagers. It has a pair of programs in development with Pfizer and Johnson & Johnson, the former of which is for solid tumors while the latter is focused on blood cancers. The Netherlands-based biotech previously licensed out a preclinical prospect to Seagen. In February, the company announced it would lay off 30% of its staff after disappointing results from a study of its lead program. Lava CEO Steve Hurly said at the time that, 'with only one product in clinical development and an early-stage pipeline,' it was 'appropriate to investigate strategic opportunities.' Both HilleVax and Lava are examples of 'biotech zombies' — companies that, due to research or other setbacks, trade at market capitalizations below their cash holdings. In recent quarters, these companies have come under pressure to dissolve and return that cash to shareholders, while others have chosen reverse mergers or buyout deals like the two struck by Xoma Monday. Concentra Biosciences has emerged as a major player in the acquisition of these distressed biotechs, striking several deals this year to buy Cargo Therapeutics, Elevation Oncology and Allakos. Other firms are taking note. Last week, KKR said it acquired a majority ownership stake in HealthCare Royalty Partners, which has pursued a similar business model to Xoma. And earlier this year, Alis Biosciences launched with a new fund with the goal of freeing 'trapped' capital on balance sheets in biotech. Venture investors are working on ways to support struggling startups, too. On Monday, OrbiMed, a prolific equity funder of new biotechs, announced a $1.86 billion fund for 'non-dilutive credit and royalty-based financing.' Recommended Reading Replay reveals second gene therapy spinout, debuting new biotech Telaria Connectez-vous pour accéder à votre portefeuille

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store