Posted on 03/15/2012 7:46:39 PM PDT by Altariel
Sears Holdings (SHLD +4.34%) already said it would close as many as 120 Sears and Kmart stores this year in an effort to turn the business around. But that wasn't enough.
The struggling retailer said Thursday it will have to tighten its belt even more. Sears is now planning to close 43 Hometown stores, 10 Sears Hardware stores and all nine stores in the Great Indoors chain. Hometown stores are independently operated, and sell hardware in mostly rural areas.
Sears is also getting rid of clothing in 10 Sears stores -- perhaps in a test run for a chain-wide initiative in the future. Instead, those stores will sell more household items such as mattresses and furniture, the Associated Press reports. Shoppers have requested more choices in those areas, the company told the AP.
Sears has been busy with a number of moves designed to stem the bleeding from its bottom line. It's been trying to spin off its Hometown and Outlet stores, but the closure of 43 of those may show how well that's going. It's also selling 11 locations to General Growth Properties (GGP -1.07%).
Scratching clothing from its lineup could be a very good move for Sears. Most people don't shop there for clothes. They might pick up some clothing as an afterthought, but they visit Sears stores for appliances and hardware.
(Excerpt) Read more at money.msn.com ...
??? Sears does not have catalog stores? They closed the last catalog store in 1993 (in July to be exact)
Try Guide One.
Best prices on home, winnibago, two trucks, and a car.
Had to use their claim services twice. No arguements, full payout with no hassle. Love ‘em and recommend to friends.
Don’t shoot yet. I need to adjust my suspenders first.
Sears is run down and junky. Seems like most of the floor space is dedicated to endless, disorganized clearance racks. The shelves that appear tidy and orderly from a distance, look that way because when you get up close, they are bare.
The stores have looked like that for years, so I wonder how they manage to stay propped up. Obama stash?
As a kid growing up in the ‘70s ALL of our clothes came from Sears or Penneys. However Kmart was too low-rent for my parents. At least Sears has great tools, with a lifetime guarantee.
And then Playboy came along and ruined that little innocent bit of fun
A big concern I have about changing companies is that I might hurt myself more than I hurt the company. I'm not familiar with "Guide One". I'll look into it.
I would be disappointed if I changed to Guide One and then the next week they stated explicitly that they won't advertise on Rush. This boycott business is tricky.
“And the economy is roaring back. LOL!”
I’d love to see how the media convinces all of these former Sears employees that Obama is the answer.
The Sultan won’t even win Illinois.
Sears was destroyed by the “Wal-Martization” of America; they sell the same cheap Red Chinese garbage, but Wal-Mart could undersell them and you usually didn’t have to deal with a mall to get there.
After watching an Asian “replacement American” try on shoes with no socks in a mall, I haven’t gone back (he was wearing sandals, and simply slipped his feet right into those shoes looking for a good fit). I wanted to throw up; people have told me I should have taken a picture with my cell phone and posted it online, but I didn’t think fast enough to do so...
Very few American in our malls here in the NYC metro area.
Actually they operate one of the successful mail order on line catalog businesses....... Lands End.
When they bought it I anticipated they would ruin it but that did not happen. They have good products at a reasonable price and if you are careful, you can get overstocks at an excellent price
Your lifetime or Sears'?
Sears just closed their store in my small town last weekend. All over the area were signs which started in January 30% off then 40% off then the last week 50-60% off.
The only problem was that until last week the prices were increased to offset the 30-40% discounts. Until last week there were actually little to no savings.
I went in last weekend and found a few bargains but most of it had been picked through. I will miss their automotive section but otherwise good riddance. They could have competed had someone told them that it wasn’t still 1974.
....and the band played on..
At least there aren’t any more homeless people.
That problem was solved when Bush left office, apparently.
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