An email was left on the print with dates for inventory. Most of the stores within our district (Ohio/WV/Kentucky) are slotted for a late May through early June inventory date. However, our store and 3 others, are slotted for late August dates. Our store manager is freaking out because late/delayed inventory count dates usually mean store closure. Should we be worried with the upcoming closing announcements?
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As a former manager on the Kmart side of things, I can confirm that 'delayed' inventories are not normal. Inventories are completed, in part, because it's needed for financial purposes. Inventories are typically completed around the same time each year so the analysts at SHC are comparing year-to-year information... It throws the numbers off if the 'year' is extended by a couple of months, and makes for less accurate reporting. Having an inventory is usually (key word) a bad sign, especially if it's pushed back a month or two.
Having sad that, the only inventory I've legitimately pushed back was because of an issue with the regional RGIS office. There was an issue with the crew who was scheduled to work, and they had to push Cycle Inventory up by 2 weeks.
In other causes, stores with a later inventory date are usually announced to close. It's usually scheduled far enough away not to raise concerns from the store staff, but close enough that the closing sale/liquidation can be scheduled and completed within the time frame.
As other shows have said, you really won't know until the DM shows up at your door to announce the closing. I predict more closings will be announced next week, but who knows at this point? Decide now if the little sum of severance money is worth dealing with the 10-12 weeks of craziness, or if you want to better employment now.
Kmart Fostoria, OH. #9096
Also, inventory dates were not just released. They’ve been out since January. Your SM probably just printed them because they’ve started talking inventory in your market because there’s 4 stores in that market that inventory in May coming up.
If you look again, there’s actually 5 Kmart’s in your market that inventory in August, not 4. Plenty of stores inventoried last year in August, that are still around today. LY we had stores that inventoried in June close, inventory scheduling is pretty random as it’s all done by one person with RGIS for the company.
Which of the 5 stores in your market that inventory in August are you?
Run, Forrest, RUN!
MPU? This is a new position?
I should have been more specific. The email was in reference to Kmart. Since the Kmart layoff board doesn't get much action, I thought I would cross-post like others before.
The closures were supposed to be announced today and look- no closures! It’s more fake news.
Relax, do your job. Business is up and we are making money again. Go out back, smoke a cigarette with the MPU guy and chill.
Stores that close don't have a inventory. So either you will be closed before your inventory date. Or you wont!
Should you be worried? You bet your a--. This is Sears were talking about store closures have been happening company has been shrinking their is a high possibility that it might be the end for your store.
If you been reading the post recently apparently theirs going to be another batch of stores closing. So at this point your manager might be right who knows time will tell.