Exactly what were the powers that be doing the whole time besides plotting to lose billions per quarter, closing stores, alienating vendors, coming up with zero marketing, and no go forward plan, hitting the ground with a thud? Were Eddie and the 3 Stooges locked in conference every day having a good cry over their incredible stupidity over how SYWR could have gone so wrong when it was so obviously brilliant and transformative? If it weren't for Uncle Warren trying not to lose his pants on his terrible no good Seritage investment Eddie would already be winning the booby prize.
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After the vendors are all lined up and delivering full steam, you will see a vibrant, dynamic store selling lots of stuff, especially water, paper towels, and totes. This may seem odd now, but when the end times are here with global warming, these items will be invaluable, and Sears and Kmart will be the go to place.
The $400 million loss in a month had a lot to do with the bankruptcy. It would have been a more realistic $75-100 million or so (more the usual loss, obviously not good but the $400 million was inflated) if not for that.
The overhead of using locals that are not already in place as a short term solution would be more expensive than just filling the sections with bottled water, paper towels and totes.
This is why local stuff you see at a Wal-Mart is usually largish quantities and limited to only a few items.
Now is HE good better at figuring this out? Probably not, someone in Eddie’s bean counters though must realize it’s cheaper not to use local vendors as temporary solutions.
The proper solution would be to use a wider selection largish grocery buyer/private labeler like Western Family/ShurFine to supply all the consumables. However adding all the Kmarts probably would take some months. They might not have enough financial backdrop to last past 2020, spending months trying to orchestrate that probably isn’t going to happen.
If you put together 425 completely random convenience stores and put a cub scout in charge, it'd be a much more profitable and well run business than what Eddie has done since he's been in charge of Sears. All this metrics c-ap and standardization of SKUs might have made sense when Sears had 3500 stores, if used properly, which it never was (inventory management is literally industry worst). Now all the bean counting is completely pointless overhead, and may as well be delegated to the district level, because it's been proven beyond a doubt HE has no f---ing clue what they're doing.
Sears lost $430M in a single month. Would they really lose more by using locals who know the scene and not going through the incompetent boobs at HE?
While this would seem to make sense someone would have to key in all the new skus to do that, ship it, tag it etc. It’s really fundamentally cheaper to wait and cut expenses like staffing instead. They wouldn’t get good terms on a short term contract like that so they may actually lose more money by doing it. You’d also have to contract multiple small wholesalers due to the fact the stores are spread throughout the country. It’s just logistically expensive. It would work if Kmarts and Sears were all in one part of the country they’re just too spread out to take that approach. It’s kind of like why all the Super Kmarts that were left were in Ohio because they had another grocer to parter with to stock the grocery side but they’re not gonna ship to some Kmart in California.
Can Transform not order from US wholesalers in the interim to keep something, anything on the shelves instead of losing customers forever when they see the pathetic state of our stores? Set up a shell company and pretend not to be Eddie for God's sake. Every convenience store owner eking by with 50k a year understands this. Why doesn't id--t Eddie and his enablers at HE?
@jrg Don't hold your breath. I'll believe it when I see it.
If the intent was just to close the stores, it would be for more profitable to just do it in a timely manner rather than shipping small amounts of stuff in at a time to just sort of keep the store stocked.
The spread out SYW points are to keep the people coming back and then they can see the stores restock. At some point at when the overseas orders start arriving there is going to be a ton of stuff coming in in pretty short order.
Because there was no intent to keep the stores open and profitable. Remember, all Eddie wants to do is sell the real estate and other assets to make money. He could care less about the stores. He will continue to close them. Nothing has changed.
@YiGOwKy-f-- Excuses excuses
It will take several months to get stuff in.
Anything that was not ordered during bankruptcy or coming from a vendors that never stopped shipping won’t be in for at least a month, possibly not until May or June. There really isn’t anything that can be done to speed up the process.
Stateside sourced stuff like tractors, big tool chests etc. will come in first.
Online orders shipped from the warehouse will cut into the available amounts of stuff that there is limited supply because impatient people who bite on the points deals will want their stuff.
First shipment of small appliances since Christmas just arrived this week, so about 2 1/2 months from mid January, and a lot of stuff probably didn’t get ordered until the sale. You’ll probably see stuff start to arrive more in mid May.
Of course stuff like appliances and tools will be more a priority than some catagories.
Is sears under transform and operating using transform funds right now? The stores are getting even more scary. They shoukd just remove counters because they will never be filled again... instead filling counters with storage tubs and bottled water.... 40 feet in some instances just looks pathetic.