There have to be some stores that are doing well enough to merit SOME safety in all of this?
9 replies (most recent on top)
Aiea
Metrics and ebitda will not save a store. Many profitable stores were closed due to the reit. It destroyed their ebitda. Only wanted the real estate. Eddie and his cronies are/were a cancer to Sears. There are extremely few competent leaders/ directors left. Unfortunately their loyalty is not appreciated and is undermined. HE was a great place to work before the merger. Now it is a morgue. All the talent that would be needed to turn this around was purposely discarded by Eddie. It has been evident for years the direction we were heading. Everyone saw it and we all collectively shook our heads with every lame brained decision. I never saw such waste of personnel, money,and other assets in my entire career with Sears. The one constant was that if it was the wrong decision.........it would happen. Even the field and store level saw it. But not Eddie? Give me a break. Look at eis. Look at coaching reports. Look at your p&l. Look at the facilities. Preventative maintenance.....what's that. Sales revenue? Too concerned about metrics . Focus was on what was being done wrong and no comments on what was being done right. I can't wait for it to end. Maybe then We can all experience some form of closure. What Sears was and how he has orchestrated its demise is a crime. We can only hope for justice.........but do not count on it. Too much money involved. The rich always get richer. And loyalty which used to mean something at Sears & Roebuck lost relevance when Eddie gained control. Rant is over.
Stores that do well with credit may last a little longer. Ones that sell PAs.
No stores are safe. There are still profitable stores, but the expenses will continue to rise with a decreased store base. Vendor terms aren’t going to improve and goods won’t be available. It’s a death spiral. Also, No stores are safe with any of the current leadership. More binders aren’t saving you.
(EIS is the internal system of sales and profit reporting). Note: 90% of shc doesn’t even look at sales and margin reporting so they don’t even see the lack of impact they have...
Stores that are still company owned that are on effectively worthless property in B/C malls are probably safest. That isn’t saying much, but leased stores as a whole and owned stores in A malls that have some residual property value are probably next on the block. Sales don’t really matter at this point, so long as the store is at least close to breaking even EBITDA-wise. Comps haven’t been used as a factor for a while, and the current sales goals are laughable in that supposedly making 50% of the goal is all that it needed to show a profit for the day.
Guam
Oak brook store maybe safe because he just spruced it up recently. Again with Eddie no one knows what he will do. My bet is he wants all stores closed.
What is EIS and how can it be accessed?
No store is “safe”. You just have a better chance at being the last store open. You can go onto EIS and see how the whole company is doing and break it all the way down to store by store. None of the Florida stores are making money right now.