An email not to be seen by all actually was. Came down from our Kmart Dm to our store manager. Kmarts are due to start liquidating the week after New years. Another big sale being announced after Christmas but this time everything will go. The whole chain of Kmarts will be shut down by mid February. The focus is Sears going forward. Truth? We shall see.
23 replies (most recent on top)
2fru- This. If your store is profitable it makes it even more likely a canadate to close. Think about it. If I was going to buy the store or become a tenant of the store, why would I want a store that lost money and had no foot traffice. But if someone told me that the previous store made money, even though it was part of a dying company, well then I know I can make money in that store.
Hahaha! I’m in SoCal and the Sears and Kmart stores are so poorly staffed that they look like swapmeets. Building maintenance has been woefully neglected for years. Most the foot traffic are shoplifters. Its pargetic. Desperately seeking another job.
@2fru I agree with you 100%. In fact the more successful the Sears or Kmart store is the more likely they will be sold. The successful ones are the ones that are being focused on now because they bring the most money. It happened to a successful Sears store in a nearby district.
As I and others have said, just because they are successful doesn't mean they are safe from being closed. Don't let your guard down.
@2bgc I agree with you. I'm in Southern California. We have only 2 Kmarts in our county. Both are very successful and profitable. One is #1 in their district, #1 in their region, and consistently in the top 10 in the whole company. The other is #2 in the district, #3 in the region, and consistently in the top 25 in the company. They are both understaffed but have a steady stream of loyal customers. The minimum wage increase will not impact them that much.
"Even if it isn't all of them, I fell that my Kmart will for sure be the next to be closed. I found it highly suspicious that in the last list of store closures, none of them were from California, where it will only be more expensive to run stores as the minimum wage keeps going up."
Most California stores are in good shape, extremely busy and profitable. While the wage increase can't be helping SHLD, I can see why there's been few closures there. Even in SoCal they've got a decently strong presence.
I'm not saying they all do, but I would say we are a good reflection of many Kmart stores. It's so pathetic. You wouldn't believe the crap we find. How about all the drug needles.
@1enf Not all stores look like yours.
@1enf "a gallon of milk that's been out of the cooler for weeks just sitting on a pile of clothing."
Holy cow, somebody put that thing out of its misery into the dumpster outside already! It must be putrid by now.
Stop the drama? Really? You clearly haven't seen my sad excuse for a store. In 10 years I haven't seen such a depressing, understaffed, and embarrassment of a holiday. We are down double digits most days. Can I be any clearer on this. What department store that is 90,000 sq ft does $12,000 in a day in sales. We should be pushing $100,000 days, but we will never be there again. We couldn't even break $50,000 on Black Friday. Kmart is dead, even our core customers have given up on us. At this point all we have are massive run outs because our AP (security) is a JOKE, random people buying a soda or a candy bar, and beer and cigarette sales. Even layaway is not busy like it used to be. We did not have to use any "extra" storage places for layaways this year, just our regular area. In years past we would not be able to walk in layaway and we would be keeping layaway packages all over the store for storage. VERY SAD! The store is such a mess every day. Just go down and look at a counter, you will see all sorts of random items that don't belong, including a gallon of milk that's been out of the cooler for weeks just sitting on a pile of clothing. Our store is a joke, Kmart is a joke. We don't have the staff to make the store run properly, literally we are barely able to make it from open to close on a skeleton crew, and then we are told more cuts are coming, during the holidays!!! Kmart is finished
It won't be across 50 states. I expect that Kmart will be pulling out of entire regions and focusing on specific areas. I'm guessing several states will not have a single Kmart. Offshore and territories will be fine for now.
Look at some point it is cheaper to close them all down than let 175 remain open. A small chain spread over 50 states and US territories is not supportable or competitive. Dollar stores opened 1,000 stores this year. Next year would be worse than this year. I think closing them all is likely. Remember SHLD said last spring without some positive change , basds on the trends this Co. would not remain a going concern come spring.
Stop the drama and scare tactics. There will be some Kmart stores closing early next year but not all.
"By no means all the Kmart stores" ....really? Why not? Why on earth would you think Kmart is going to survive past the holidays? The writing is on the wall....wake up!
I can't see corporate tipping their hand to dms and store mgrs. They would have to know that info would get leaked and people would run. A more likely scenario would be liquidators arriving unexpectedly and immediately starting the liquidation and offering some modest severance to employees who stay.
It's a scare tactic to keep everyone in line with the notion that staying in line will save your store. Sure, some will close but not the whole chain.
@QL- The fact is that DM's and store managers are not privy to this information this far in advance. Maybe it is in reference to a drawdown in Kmart over the next 90 days. Expect 140 announced in a few weeks, then another round in a few months that could only leave 200 Kmarts. What happens after that with Kmart is known only by ESL and close confidants.
Sounds logical.
Even if it isn't all of them, I fell that my Kmart will for sure be the next to be closed. I found it highly suspicious that in the last list of store closures, none of them were from California, where it will only be more expensive to run stores as the minimum wage keeps going up.
Not the truth just someone trying to scare you. There will be Kmart stores closing but by no means all the Kmart stores.
Well I agree that I won't fully believe this story, I also will not be surprised if this is truth. A lot of events lining up lately to make this sound true.
I'll believe it when I see it.
Is this for real or someone hoping it is?