Supposedly they're going to kill all remaining Kmarts in February. No need to keep the Kmart guys around.
Where did this info come from? Seems a bit too far-fetched to be true.
22 replies (most recent on top)
Give up that transformation fantasy. SHC does not have the resources for any reshaping or restructuring. They lose 500 MILLION dollars minimum every quarter. There is nothing left.
Well if that is the case then my Kmart is screwed either way since it is a Super Kmart.
Where are these CVS sized KMarts located at?
FYI there are already two CVS sized Kmart locations. The company has had one of the two for over four years. It is profitable.
So it isn't without reason that scaled down kmarts could be in the company's future.
Santa Monica is an anomaly. Most that remain are in sh-- hole locations where they are likely to sit vacant for years.
The Sears locations are more valuable because they are typically attached to a mall and can be carved up and re purposed for businesses paying higher rents. The Kmarts are mostly stand alone albatross properties. Check out the renderings of the Santa Monica Sears remodel as an example....
@QvMc0nK-1zim b---s---
It was more fake news from “popcorn” and his or her usual short the stock bull crap.
Yes more stores will close but we will be closer to break even and then we will start growing again.
Next year they will be piloting the CVS store sized Kmarts in 3 or 4 locations. Transformation.
That's true. Sears pretty much isn't though of at all anymore by most of the public.
@1qzr Kmarts are almost entirely leased locations, so it's not so much "for the property value" since they can't sell those.
Sears has lost some of its reputation with the general public in recent years, but at least they aren't thought of as a lower-end version of Walmart like Kmart tends to be.
That's the thing. Yeah, maybe Kmart isn't doing as horribly (but still doing pretty bad) but at the end of the day, Sears is the parent company and they decide the fate of Kmart. Sears thinks they are the top, which they are (top of the Sh-- pile!), so they will want to keep Sears alive over Kmart.
Also since the recent announcement that they need more money, what better way for them to get another cash infusion than close down the Kmarts for the property value and to bring costs down.
What demographic does Sears have a good name with? It isn't anyone under 55. And a huge number of 55+ have been burned by Sears and won't ever be back, plus they are dying off.
@1agh Thats what made no sense to me in the start Kmart doesn't seem to be losing that bad, but I guess the name Sears is more prestige, but in the end of the day its all about $$$ which one is making more or more correctly losing less money.
While neither name is worth what it once was, Sears has more brand recognition and a better reputation than KMart
Sears sales are falling faster than KMart sales but they want to kill off KMart. Makes no sense. Not that Kmart sales are anything but dismal but any company trying to save itself focuses on its best assets. This one sells them.
Heard a few times it will be whittled down to ~200 stores, mainly for .com distribution. There's about 450 Kmart stores left, so if this happens we will lose ~250.
Maybe we will finally get on the right track. Maybe this won't be a bad thing, even though it's never good for those laid off? Perhaps the stores finally get remodeled, inside and out (a fresh coat of paint, strip and wax of the floor and pressure washing the exterior is not remodeling). Maybe Kmart can reinvent itself. It will never be a Walmart or a Target, but it can be something like a Fred Meyer. With enough of an honest effort I don't see why not. Sears can revitalize itself too.
While that still isn't good, it sounds more believable.
That was the original rumor a couple weeks ago, but the correction I heard is they are supposedly just closing around a third of the remaining Kmarts in February.
From another forum: "Someone within SHC corporate informed a friend of mine and admitted that there will be a mass liquidation early 2018, BUT not all Kmart stores will be affected. They instead said there will be around 150 closures announced all at once, with the intended target of getting the kmart chain down to a mere 300 locations. It wouldn't make sense for them to completely liquidate the chain, as the Kmart division is arguably doing better than sears sales wise. There has also been an additional 6 kmart store remodels. It wouldn't make sense to pour money into a store location just to close it in the next few months, although I will admit with SHC you never really know."
Yes who knows is right.....There are always rumors swirling out there. That's what people like to dwell on. Do the best for yourself in your current life. If that means staying at Sears/Kmart working then do so. If that means leaving, then do so. Worry only about yourself and whatever makes you happy. Happy Holidays!
I heard the same rumor from my QMT a few weeks ago. His brother is a liquidator for Abacus Advisors, one of the companies that conducts liquadation sales for Kmart stores. I guess he, and other liquidators have received advance travel orders for February... Many more than usual, and that another firm was being called in to help close the remaining Kmart stores.
He also mentioned something 'pre-lease termination inspections' but who knows.
Come on....enough of the rumors.
Read it at @QuClSe3-ryj.