Posted on 01/09/2014 2:09:59 PM PST by Hojczyk
Sears, once America's golden retailer, is a company in crisis.
The company has shuttered hundreds of stores in recent years. The embattled company has been selling some its most profitable stores to raise money.
And now, shares are tumbling after Sears lowered guidance for the quarter and announced that comparable sales in the fourth quarter have slid more than 7%.
Brian Sozzi, chief equities strategist at Belus Capital Advisors, took poignant photos inside of New Jersey and New York Sears locations in October.
"To understand why Sears is in a 'sell stores mode' one must look no further than the stores themselves, where the truth is to be found," Sozzi writes.
His photos show the sad reality of what Sears is today.
(Excerpt) Read more at finance.yahoo.com ...
On November 17, 2004, Kmart Holdings Corporation announced its intention to purchase Sears, Roebuck and Co. The new corporation announced that it would continue to operate stores under both the Sears and Kmart brands.
I think that LG is a Korean company. It seems to have a good reputation.
I have a Lowes and TWO Home Depots within 5 miles from my home.
Even though they all carry the same brands at the same price - the Lowes is nicer so I shop there more often.
I don’t, and I’m quite sure that I’m right about that. :)
Many brick and mortars have inventory issues right now. The local WalMart’s shoe department is over half empty shelves. And has been that way for over a year now.
The only department in WalMart that appears to be decently stocked is the grocery department. Unless you want FRESH produce. Then forget it.
This was a store that was jam packed with stuff just 6 or 8 years ago. It’s where we bought all the kids shoes. Now we’re lucky to find something they like and in their size.
Retail in this country will take decades to recover from the past 5 years. If it ever does.
We have LG washer and dryer. Our repair guy hates 'em (too dependent on electronics). Can't get parts, and the parts are wicked expensive (as we learned). Live & learn.
I grew up on Sears appliances, and for my 1st 30 years as an adult bought Kenmore. 6 years ago I purchased a side-by-side at Costco. After 5 years the freezer kept going out; however, Costco took it back, no questions asked. Gave us cash back to boot & we didn’t have the receipt. I doubt Sears would have even talked to us unless we had the extended warranty. Even then, we wouldn’t have gotten cash back. I know Costco is a liberal’s dream in terms of donations. But I have very limited funds & I will spend where I can get the best, biggest bang for my buck.
Those guys from Pickers on the History Channel will give you a pot of money for that sign, I'll bet.
My grandmother worked at Sears, as did my best friend’s mother. Sears was like a part of the family.
A couple of years ago me and my GF went to Home Depot to buy a new washer and dryer. after looking real close I realized that the cheapest washer, an Admiral was the EXACT same washer as the much more expensive Whirlpool with a different button arrangement and decals.
We went for the Admirals and saved about $500 dollars.
Both still work like a charm.
Not surprised. Many of us quit when the department manager called a meeting to berate us all for not “pushing” more tires/batteries/shocks and repairs. He and his underlings were bean counters. If a customer got tires, we were ordered “recommend” additional service. “X” number of tires were to correlate with “X” number of shocks or brakes sold each month, or referrals to the new “Diagnostic Center,” or there would be “trouble.” That Diagnostic Center was ultimately the department’s downfall. A state of the art automotive section perceived as a cash cow, and wielded like a bludgeon against customers. Go shopping for tires, wake up in a clip joint while the nasty bar girls are pawing through your wallet.
I have a Lowes and a Home(less) Depot about 10 minutes away. Lowes 99% of the time has what I am looking for and the store layout is better.
Sears was prepared for the advent of online shopping the way Digital Equipment was ready to lead the PC revolution.
Those homes are very much cherished by many. They’re considered to be of very good quality, and many are still in existence. Think of the Eichler homes in California.
My parents shopped at Sears during the 40,s 50,s and I loved the foot x-ray machine in the shoe department. I was in love with the escalators too and don’t forget the popcorn machine. :)
That looks like a store getting ready for inventory.
My bet is there are boxes of stuff, packed and inventoried on pallets out back ready to come out as soon as the counters leave.
No big fan of Sears. But these pictures do not look like a fair representation to me.
If you've ever been to a Jiffy Lube, they do pretty much the same thing...push additional "services"...that's where the money is made I guess.
"Go shopping for tires, wake up in a clip joint while the nasty bar girls are pawing through your wallet."
LOL!
Not sure how they can focus on Craftsman tools. I refuse to buy that stuff. I’m an electrician in the oil patch and when you’re way in the bush you need tools to work and not break. The quality on Craftsman lacks.
I also worked at Sears.com when I lived in Texas. I liked that loads better. People calling mostly because they knew what they wanted. I was on the email team after a short time & at that time, we had to give personal responses, not templates, and got into trouble if we repeated emails to answer similar questions. All in all, it's too bad the direction Sears has taken.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.