2017 Q3 same store sales declined 17% at sears and 13% at Kmart.
Individuals with a pension should quit and take a lump sum withdrawal (if possible). Remember, there is a three month waiting period before you can receive the money.
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Clarification from @2jvg - after reading the PBGC FAQ further, it looks like they may reduce payments somewhat when they take over a bankrupt company's terminated pension plan, but the payments you get after that point will be determined by the amount you were getting before that point.
@2xjt: Pensions are protected by the federal government. The Pension Benefit Guaranty Corporation - https://www.pbgc.gov/about/faq/pg/general-faqs-about-pbgc - should ensure that you continue receiving the same payments you already receive, no matter what happens to Sears. They are putting the property value of 140 store locations towards funding that (one of several funding methods): https://www.thelayoff.com/t/Q9iLxcO
What happens if you are already receiving a pension as a retired Sears employee!
Sears is the company with the biggest title and also it seems they're the only one with access to the big appliance names (although currently limited). I'd like to know which brand actually has the higher sales dollars.
ive only ever seen Kmart as 'ghetto-er Walmart'
Disclaimer: I worked for a sears and our Kmart is extremely ghetto. Our sears is more high class and sells higher margin items. My opinion is biased.
It doesn't matter why people shop at KMART, the poster was noticing that KMART sales weren't as down as much as Sears.
KMART has a large customer base without cars. They have no choice in shopping. If they had transportation they would be shopping at Target or Walmart.
Isn't it ironic that they are closing more Kmarts than Sears yet Sears is down an additional 4 percent vs Kmart.
@nhf Could happen but wouldn't be the end of the world.
pension.
Eddie has your money till you receive it in the account.
Don't see how Sears can continue much longer w/o a bankruptcy filing. Debt is unbelievable and sales keep sliding. That does not necessarily mean liquidation, but a restructuring seems inevitable.
Same store means comparing stores that are open today to their numbers a year ago. Standard retail industry measure that excludes store openings and closings which would skew numbers up or down.
In other words, the situation continues to get much, much worse. Normal retailers freak out over a couple percent.
Same store is comparing existing stores from last year to existing stores this year. Probably not relevant here because there are very few new stores if any, since kast year
What is same store?