Transform SR Brands LLC

Hoffman Estates, Ill. -- Sears has added returns and exchanges to its In-Vehicle Pickup service. The new integrated retail service, powered by the chain’s Shop Your Way loyalty program mobile app, lets members pick up, return or exchange their purchases for free – guaranteed in five minutes or less – without ever leaving their vehicle.

New York – Department stores are increasingly using an omnichannel approach to meet the needs of consumers. According to the Digital IQ Index from digital intelligence provider L2, half of department stores offer shoppers a “click and collect” option, 68% allow in-store returns of online purchases, and 25% provide real-time store inventory.

Other notable findings include:

• Seventy-seven percent of department store brands offer a mobile app;

Northbrook, lll. -- StreetMac LLC and an affiliate of Five Mile Capital Partners LLC announced redevelopment plans for the 1.3 million-sq.-ft. Stratford Square Mall, located in Bloomingdale, Illinois. The center’s anchor tenants include Macy’s, Carson Pirie Scott, Sears, Kohl’s, Burlington Coat Factory and the 16- screen Century Theatre movie complex.

Indianapolis — JLL’s Retail Group has been retained to lease and manage Washington Square Mall in Indianapolis. The property’s tenant mix includes more than 80 national, regional and local retailers, and is anchored by Sears, Dick’s Sporting Goods, Target and Burlington Coat Factory.

The nearly one-million-square-foot regional shopping mall was built in 1974 and underwent a comprehensive renovation in 1999. Regional manager Rick Vita is leading the JLL team on this assignment.

According to Lands’ End president and CEO Edgar Huber, the company is well positioned to continue executing against its strategic initiatives to drive long-term sales and earnings growth.

The retailer, which completed its separation from Sears on April 4, has achieved double digit year-over-year adjusted EBITDA growth for more than four consecutive quarters as of the second quarter of fiscal 2014.

New York -- Fitch Ratings downgraded the credit ratings of Sears Holding Corp. from “CCC” to “CC,” citing the “magnitude” of the retailer’s drop in profitability and lack of visibility to turn operations around as a significant concern.

Fitch also cited the company’s cash burn rate, calling it a “significant concern.”

Kmart is gearing up for the holiday shopping season and reminding customers, including Shop Your Way members, of its No Money Down Layaway program, which is now available.

Hoffman Estates, Ill. - Kmart is offering a no-money-down layaway program to members of the Shop Your Way loyalty program for the holiday season, starting Sept. 4. Kmart's layaway program includes both online and in-store contracts for coveted items across dozens of merchandise categories, including apparel, home, toys and electronics.

Kmart is also running a new ad for the program both on TV and YouTube.