Thread regarding Sears layoffs

ElCajon

http://www.sandiegouniontribune.com/communities/east-county/sd-se-elcajon-sears-20180419-story.html

ears, Roebuck and Co. was the anchor tenant at Parkway Plaza in El Cajon when it opened in 1969. Its presence there helped the shopping mall to become the city’s largest retail center.

But after a half-century at the corner of Fletcher Parkway and Johnson Avenue, Sears will be shutting its doors for good this summer. It is one of hundreds of Sears stores facing closure nationwide as the company struggles with declining revenues, unable to compete with online sales and a growing list of competitors.

The 250,000-square-foot department store chain will shutter in July, putting 104 employees out of work. Some of them have asked to be transferred to other Sears stores; others are retiring. The automotive center closes this Saturday.

Some locals are already rueing the day Sears shutters its doors.

“Oh no!” Alpine resident Kathy Downs wrote on Facebook when she heard the news. “I also remember when it opened. Largest Sears store west of the Mississippi. I still have the sewing machine I bought there. And now where will we get our Diehard batteries?”

La Mesa resident Charlie Wells wrote on Facebook: “I remember when it opened! The only building on that whole property, I think. A great store.”

Sears’ closures around the country show some of the changes in people’s shopping habits over the decades. ........................ the rest of the article is in the link

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Post ID: @OP+T1BZxgh

4 replies (most recent on top)

This is what @2ivb was referring to. He's had to quietly walk back a lot of these aspects as the company's finances deteriorated (merging groups back together and such).

https://www.bloomberg.com/news/articles/2013-07-11/at-sears-eddie-lamperts-warring-divisions-model-adds-to-the-troubles

https://www.inc.com/erik-sherman/sears-ceo-eddie-lampert-should-stop-reading-ayn-rand.html

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Post ID: @2gmc+T1BZxgh

If he was actually Randian he would have modernized and attempted to catch up with and surpass the competition . He is no acolyte of Hayek that's for sure he likes debt too much. This however is not simply his failing , this has been in the making for a good 25 to 30 years of Keynesian economics. Keynesians ruin everything they touch with horrendous crushing debt .

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Post ID: @2yxm+T1BZxgh

"unable to compete with online sales and a growing list of competitors."

This is such an incomplete narrative of why Sears is tanking. The vast majority of retail still takes place in physical stores. Sears and Kmart didn't invest or upgrade in stores, merchandise, or people. Eddie used them as trial labs for his Randian stupidity.

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Post ID: @2ivb+T1BZxgh

she can go to Walmart and by the same battery for much less money

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Post ID: @zit+T1BZxgh

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