Sears is on the brink of catastrophe as stores closures loom and top execs flee the company

http://www.msn.com/en-us/money/companies/sears-is-on-the-brink-of-catastrophe-as-stores-closures-loo ^ | 4-Dec-16 | Hayley Peterson

[ARGLOCKGUY]

Things aren't looking good for Sears. The company is shutting down dozens of Kmart stores this month and two of its highest-ranking executives left this week in the midst of the key holiday shopping season. This comes following speculation among Sears and Kmart employees, suppliers, and several banks that the retailer will soon go bankrupt — something Sears has repeatedly dismissed. Jeff Balagna, formerly Sears' executive vice president, left the company Wednesday, "in order to focus on his other business interests and pursue other career opportunities," Sears said in an SEC filing dated November 23.

[outofsalt]

“Now that Craftsman tools are made in China...”
http://www.toolbarn.com/usa-made-tools

[PapaBear3625]

As a kid I remember the old Sears and Roebucks catalog from the covered wagon days....

They missed their big opportunity, to go online into the niche Amazon currently occupies.

[trisham]

It’s a shame. They had some very reliable products. I still have a canister vacuum cleaner that we bought 20+ years ago.

[deport]

Apr 22, 2016

The retailer announced on Thursday that it would close 68 Kmart locations and 10 Sears stores
this summer, leaving Kmart and Sears with fewer than 900 and 700 stores respectively.

[JoeProBono]

[bigbob]

Sears was the Amazon of it’s day. Now obsolete.

[COBOL2Java]

They missed their big opportunity, to go online into the niche Amazon currently occupies.

Can you imagine if someone at Sears had the foresight to do that? But it was the old business models the execs held onto that did them in.

[Arm_Bears]

Is Jim Cramer still pushing Sears Holdings?

My wife lost a small fortune listening to that huckster.

[Vermont Lt]

The only time my wife and I go into Sears is when we get a parking space close to the door, as we cut through to go to the movies.

[Jane Long]

Maybe they’ll bring back their manufacturing to the USofA, now that Trump is Pres-Elect.

Maybe Sears can be made great - or at least very good, again.

[Sasparilla]

...Now that Craftsman tools are made in China, I have no reason to ever shop at Sears again...
I wondered why ratchets have been breaking so often and why a new Craftsman hammer drill and a C3 won’t hold a bit tight in the Chuck. But, electrics have probably been made overseas for some time.

[Grampa Dave]

Buying K-Mart was dumb.

Yup. One failing brand buying another failing brand just meant two failing brands.

Downward synergism is not what you want in today’s business.

[CodeToad]

Typical liberal MBA crowd running yet another company into the ground.

[Spktyr]

Even now their online presence is still garbage. They still haven’t got a clue on the new internet economy.

[pieceofthepuzzle]

Ironically, with their brand based upon catalogue sales, they could have been one of the earliest online ‘Amazon-like’ retailers, but it seems they missed the boat by being tied to the mall anchor concept.

[lysie]

I knew when they used the slogan, “The softer side of Sears” it was downhill from there.

[Jack Hydrazine]

Sears was the Amazon.com of that era.

[COBOL2Java]

Even now their online presence is still garbage. They still haven’t got a clue on the new internet economy.

Sad, but it's the survival of the fittest in the free market.

[31R1O]

My great grandmother had one of those.

[Sacajaweau]

Lifetime guarantee for the tools.