Posted on 12/04/2014 12:38:36 PM PST by SeekAndFind
Sears is shutting down hundreds of stores.
The chain announced today that it is accelerating store closings to 235 this year, 100 more than previously planned.
Sears' total net loss for the quarter was $296 million.
Sears' and K-Mart's collapse is "inevitable" and could happen by the year 2016, retail analyst and author Robin Lewis writes on his blog.
"These two retail brands are dead men walking," Lewis writes.
"As a retailer they're at the point of no return," David Tawil, cofounder of Maglan Capital and an expert in distressed retail companies, told Business Insider earlier this year. "The real question now is when does it all end?"
The company, which has currently has 800 namesake stores and 1,100 Kmart stores, has lost $6 billion since 2012. Suppliers are growing concerned that they won't receive payments for merchandise.
(Excerpt) Read more at businessinsider.com ...
Yeah, for electronics there’s nothing nicer.
Now they just want video games.
I tore out the pictures of toys and put them on the mirror, held on with saliva, and played with them.
lol
Sears is nothing like Apple!
There’s an old spanish saying “Lo barato sale car”. Which literally means “Cheap will come out expensive”.
You nailed it! Which is why I spent $300 on a Dyson Animal vacuum cleaner that not only is better but lasts longer than the Shark.
I guess that went when they cheapened the product line. too bad, it was once a great line.
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