What will happen next after the bad new of the 3rd Quart Report. Can Sears be saved? Will Mr. Lampert loan Sears any more money? What happens to the Pension for the employees. I think he should just closed the doors or sell it to someone that will improve the name. Sears needs help.
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Pushing credit card applications is the answer isn't it? or is the answer riding Uber? or maybe the answer is getting rid of electronics department in the 21st century because no on would want any kind of technology, or maybe the answer is SYW, people love a good deal and we can sell lots of merchandise at a loss, or maybe it is cutting labor cost because having the fewest workers possible working the jobs of three people leads to great customer service and a happy work force, or maybe the answer is to have outdated computers and registers so that we can have system crashes every few days, have people wait in line for 20 minutes because of all the questions and slow registers because we all know that people want to spend their time in line (it builds a sense of community and you can meet your neighbors), or maybe the answer is selling lots of warrenties that gives people the worst customer service in retail, that aren't honored and have so many exclusions that few actually get what they pay for, or last but not least lets have the worst return policy in business so that customers are pi**ed and never want to shop at Sears/Kmart ever again. That is the way to profitabilty! How' it working out for you?
No one would want to buy it. It's too late, it's a dead brand with too much debt. It would cost billions to revamp the stores from the dated 80's look they all have, to fix the state of disrepair Eddie has let the stores fall into, to update the technology. The cash registers are so old parts for them aren't even sold anymore. The company keeps a stash of broken ones to part out for repairs - how pathetic is that, lol? Eddie COULD have turned things around if he had invested when he took over but he NEVER had any intention of saving Sears and Kmart, never intended on a "turnaround". His end game the entire time has been to get the real estate and strip the assets. He is using the associates, holding out a carrot on a stick that if the associates "help" by giving up raises, work in stores that are too hot in summer, too cold in winter because he won't spend the money to fix the heat and air systems, if one associate will just do the work of three people when payroll is cut yet again, then, THEN the "turnaround" will be successful and jobs will be saved!! It's all been a lie folks, a sham. Eddie has been buying time on your backs to bleed out every penny of assets and real estate he can because, you know, a billionaire's gotta eat! Get it through your heads - IT'S OVER!!! Stop trying to convince yourselves otherwise and find another job like I did. Get out NOW!!! Do not let Eddie use you one more day.
The people running this show can't even conceive of a strategy which could lead to recovery. The answer to financial problems is to cash in inventory and cut store level expenses. In the latest "transformation update" 80% of identified liquid assets is inventory, which means even emptier stores next year. And they continue to promise more cuts in expenses, which means even less help on the sales floor. They are nearly out of cash and out of options.
If Lampert were to suddenly disappear from the picture, things would be slightly brighter. But even then they probably don't have enough resources for a real turnaround. It would take years and $billions invested in the stores to turn things around. It probably isn't even worth the effort. It's time to just let it go.
Agreed with KLM9. What more needs to be said? Either you are out the door or you are not. I am staying for now but the game is over.
Sears has nothing left that will save it... sorry if you keep hoping for a better answer. No one would buy the company or the brands that it is trying to sell when all analyst see bankruptcy in the near further, why pay high dollar now when you can pay pennies later, Sears no longer has assets to leverage it's that simple... it's main asset was real estate which it no longer has regardless of what they tell you. Their top locations were sold in 2015 and all that is left are dying stores and expiring leases. This is game over for sears and it's not going to go down smoothly for all associates impacted