Is it just me or has it been a while since we've heard about another store closing? I think it has been at least a few weeks.
How sad is it that I'm so used to hearing a new store would be closing minimum once a week, that having a few weeks without it feels strange?
@UDzxGWP-2mlm Honestly its to late for anything like that. Company is 5 billion in debt. Sears has been in life support for a while its pretty much game over. They had a chance to turn over the company, but no money will ever pumped to really renovate the company. Associates that work in the company have no motivation I have seen them slacking off they don't care. They just got fed up with the abuse and exploitation that has been happening.
The assets are pretty much drained nothing really can be done at this point.
Sears is caught in a death spiral that's almost unavoidable. As it works/worked to trim costs the shopping experience has suffered making it an uninviting place to shop as it theoretically at least needs shopper more than ever. I still go to our Sears stores to shop I guess but mostly to watch the state of things. I've tried to make purchases and haven't been able to find a sales associate in that dept or even adjoining apartments sometimes. I've also noticed that when I make a purchase I no longer seem to be getting the mile-long ribbon of savings promotions.
I think Sears should pick one region of the country where they have "good" customer support and good distribution and hunker down there and shut down all the other stores that that area can't efficiently be supported by that distribution system. I think they could survive a while as a strong regional dept store and work on their online presence. The Sears website is JACKED UP for a billion reasons but if they could fix it, that might be their lifeline to a post-brick and mortar future.
They are still closing stores but not making a big deal out of it like the ones at the end of every quarter. Most of the end of quarter announcments are made to keep the stock from tanking and to look like they have a plan. In the mean time they are closing stores, making visits to the next closings and preparing for BK. Ask anyone at HE how it is going and they will tell you that this is the end.
Unfortunately our Sears store is closing. I spoke to the liquidator and he spoke in "general" terms that Sears is trying to hold off and close as few stores as possible until after the holidays. After the first of the year look out. He said profitability has absolutely nothing to do with store closings. Bottom line, all that counts is how much money they can get for the property.
Some Sears cheerleaders were figuring that sales would go up in remaining Sears stores in areas where nearby Sears stores had closed down....
There have been 5 Sears stores close down within a 50 mile radius of our store.....yet sales still continue to tumble in our store....Customers are abandoning Sears in droves...many of them figuring bankruptcy of the company is just around the corner.
@UDzxGWP-1opn No, that's kinda the end game here. They are going to eventually close all of them down. Hell, they could do it now but Eddie is playing his games to make it look like he tried to "save" Sears and Kmart when in reality he wishes he could dump the whole lot.
Aren't there less than 800 Sears and Kmart stores combined? They have been closing about 10 stores a month in secret plus the usual 50-100 after every earnings announcement. Eventually they would have to start slowing down the closures or there will be no stores left.
It has been very quiet about stores closing I think Sears is trying to old before the 2nd quarter and as someone mentioned a bunch of stores will get stores (closing another big batch as always).
@UDzxGWP-pyd b---s---.
We have right sized to profitable stores sunny sailing ahead !!
Those that provide services and/or products to sears and Kmart will eventually lose out when Shld goes bankrupt. May as well get out now or be left holding the bag when bankruptcy happens. Eddie is a cheap, conniving, manipulative Sob, which you would expect considering his lineage. He will screw over as many, and any he can. No honor or conscience with this wreck of a being.
Remember that not all the jobs that depend on this are within Sears Holdings. Manufacturers, trucking companies, and other companies that provide services to Sears and Kmart will lay off workers if the company goes under.
Yeah I'm expecting a huge deluge of store closures following the second quarter failures, oh I mean, results.
@UDzxGWP-hpi is it a good thing people don't lose their jobs? Doesn't it just hold these people back from being forced to go out and find something better. As long as this company stays in business it holds everyone back that works for it and lets them live their meager existence.
Wait till the second QTR results come out. There will be more. I'm just glad there has been a temporary halt to people losing their jobs.