I can understand underperforming ones, but I know for a fact one of the stores slated for closing is doing really well. So why close that one?
7 replies (most recent on top)
Because most the dumdums on here don't realize it was NEVER about retail, only the real estate. I first put that 6 months ago, was given like 40 downvotes, and suddenly everyone has been realizing oh, it's about real estate! It was ALWAYS about real estate!! Norridge, Illinois one of the top producers in the chain, and a flagship store, renewed its lease, then sold that lease last year! Shows you right there what their endgame was- real estate, real estate, real estate! It's why not all 3,500+ stores closed, because he wouldn't be able to pick apart the real estate venture like he's done. Anything that comes in from that sale, he pockets it, don't think he doesn't! HE DOES!! You're a FOOL if you don't think that's the case. A FOOL!
It doesn't matter if individual stores are profitable if the enterprise as a whole is bleeding cash with no end in sight. Furthermore, as the store base continues to shrink the cost of supporting the remaining stores becomes ever more prohibitive.
We were closed in January 2018 and were profitable. He's been doing it for quite awhile.
I'll just say this, we are one of the top Kmarts in the country (Big Bear Lake) and we are 3 million dollars down from what me made last year so....yeah.
I feel it is part Eddie doesn't care and the other half is that this company is losing so much money that even the more profitable stores can't make enough money to hold back the crippling debt Sears has been going through this year. Since they went private, they don't have to disclosure their quarterly earnings and expose how even worse they are doing than last year.
Since there are only 25 profitable stores in Sears, which one are you claiming that is making profit?
Eddie doesn't care about the stores making money or the countless lives he's ruined. The real estate is worth more.