Posted on 12/27/2011 6:53:42 AM PST by Kartographer
Sears Holdings Corp. said Tuesday it will close 100 to 120 of its full-line Sears and Kmart stores as it struggles to attract shoppers. Sales for the fourth quarter are off a disappointing 5.2 percent compared with last year.
“Given our performance and the difficult economic environment, especially for big-ticket items, we intend to implement a series of actions to reduce on-going expenses, adjust our asset base, and accelerate the transformation of our business model. These actions will better enable us to focus our investments on serving our customers and members through integrated retail – at the store, online and in the home,” said Chief Executive Officer Lou D’Ambrosio in a statement.
The company will take a fourth quarter tax-related non-cash charge of $1.6 billion to $1.8 billion.
(Excerpt) Read more at abcnews.go.com ...
It’s a sad irony that Sears was a pioneer of shop at home, (Sears catalog), and shop at home, (internet), is doing them in.
This is more of a business model and image issue. Sears is seen by younger shoppers as being Grandma’s store. And Kmart is seen as Walmart without the low prices.
Wonder if there is a list of stores yet?
Hopey Changey.
Why don’t they just copy the WalMart business model?
It seems to work well............
everyone has copied the walmart model .. even at nice stores almost 100% of the goods are china made
I like to go to K-Mart.
There’s never a crowd...........
Did Sears contribute to the Democrat campaign in 2008?
Or usable aisles. Whenever another store makes it difficult to get from one place to another with too many in-aisle displays and pallets of merchandise (I'm looking at you Kroger) I say they are getting K-marty.
The year before that, I bought an air filter cartridge online, and they sent me an empty box. It took two acts of Congress to get that resolved too.
Now a days, Sears carry sub standard , overpriced stuff. If you want to over price, atleast provide quality.
Unfortunately, even if there are only a dozen customers in the entire store, it will still be difficult to shop and I'll get stuck behind five at the only open register.
Same as going to Burger King drive-thru, never a line.
Although their crummy fries have been $hit-canned and they have "New-Improved Fries" may be they will get some folks back.
I eat only a few of the fries anyway. Most of them go in the trash...........
Millions upon millions of "unemployed" (no job, no longer looking for a job, underemployed, temp, contractor) exist.
The unemployed buy nothing or far less than normal.
As a result, sales drop at retail stores.
The retail stores layoff (or fire, if you prefer) employees.
Unemployment rises.
The unemployed buy nothing or far less than normal.
Sales drop further at retail stores.
More stores close, forcing more layoffs (or firings, if you prefer).
The unemployed buy nothing or far less than normal.
And so it goes....
The other side of "the coin" is this.
The unemployed rely on state monetary support.
The unemployed rely on fed welfare programs.
Therefore, the unemployed depend on govt largesse.
The unemployed cause govt. to grow to support their increasing numbers.
Govt must collect more money to support growing welfare state.
Governments (both state and federal) must either raise taxes or borrow money.
"The Rich" begin to protect their assets (eg: move assets out of the country, or move physically to a lower tax area).
Govts borrows more money to "feed" the welfare system ruining its already damaged credit rating, for lenders know that neither the US nor many of the states therein cannot pay what it owes now much less meet its obligations in the future.
Meanwhile.....
The unemployed begin to default on debt (credit card, medical, and housing to name a few).
Lending institutions wind up with worthless "assets" on their books and dwindling cash reserves; they must cut overhead to remain solvent.
They then "lay off" (or fire if you prefer) employees.
This increases the unemployed.
The government falsifys the "unemployment" count by saying that 2.5 million jobs that have left the country no longer exist and therefore can no longer be counted.
The unemployed - ever increasing - buy nothing or far less than normal.
Factories manufacture less product causing factory closures; resulting in more unemployed.
The govt mounts a "spin" campaign damning "the rich" and demanding an increasing amount of money from them.
The unions join the campaign screaming for "workers rights" and raising the dues of the few employed members they have left; for they need money to retain their "lifestyles".
"The rich" protect their assets by moving them out of the country; shutting down factories, and physically moving to lower tax areas.
Need more???
Read "Atlas Shrugged" if you've not already. Enjoy the story....but look for the lessons.
Your biggest fear is this - in answer to the question, "Who is John Galt?"
There isn't one - we're on our own.
Well, if you ain’t gotta lot of customers, you can put more junk in the aisles!.................
This can’t be true....the economy is seeing steady increase in activity. Job numbers are fantastic; more employers are hiring and less and less are applying for unemployment. Each day the DOW rises a couple hundred points, it is a boom town economy.......how can this be true? It can’t all just be because the Muslim Obama is running for re-election, can it?
Sears and K Mart needs to go back to what made them the stores. Sears needs to go back to their catalouge, back to American made Craftmen tools and to get Whirlpool to make their Kenmore appliances. KMart needs to be the anti-WalMart, by being an slightly upscale discount store. They needto be between WalMart and Target.
“You’ll never hear a woman say she bought this dress at Sears” = Mrs Bender 30 minutes ago after hearing of the closings on the radio...
Rainman said it best ...
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