Posted on 12/09/2016 1:17:01 PM PST by Hojczyk
Sears (SHLD), the 130-year-old American icon, cant find a way to stop the bleeding.
The floundering retailer has closed hundreds of Sears and Kmart stores, cut costs and borrowed millions of dollars from CEO Eddie Lamperts hedge fund to keep the business going. Sears invested in its online store and a loyalty program, Shop Your Way, in hopes of regaining its footing, but customers have yet to return in droves.
On Thursday, Sears reported its fifth quarterly loss in a row, and sales continued their downward trend. Sears also revealed that it will accelerate plans to shutter underperforming stores. Jason Hollar, Sears chief financial officer, said theres no guarantee when the company can return to profitability.
Sears, which is based in the Chicago suburb of Hoffman Estates, Ill., traces its history back to 1886. Sears, Roebuck & Co. grew to become the largest retailer in America, competing with retail heavyweights of the day like Macys (M) and J.C. Penney (JCP).
The retailer was widely known for its catalogs, but that business fell out of favor by the 1990s. With the brick-and-mortar business also struggling, Kmartcontrolled by Lamperts firm, ESL Investmentsacquired Sears in a $12 billion merger in 2005. Sears Holdings is now the 20th-largest retailer in the U.S., according to the National Retail Federation Opens a New Window. .
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“Sears symbolizes America when America was great.”
That is precisely what they should capitalize on. Say they are making Sears great again, and do it. There needs to be a retailer aimed at normal America. They might be surprised at what just a few right moves and some marketing that basically gave the finger to the blue state mentality might do.
For one thing, the company management is stuck on Active/Stupid and apparently hasn’t had a clue since the early 2000s - and they’re actively resisting any changes, even needed changes. Prior thread from just a couple days back: http://www.freerepublic.com/focus/f-news/3501404/posts
The faster they die, the sooner someone else can buy up the remains and start over with a competent management team.
Thanks. How long have they been made in China? do you know?
Not going to happen with this loser of a management team, who won’t sell off Sears because Sears is still doing better than their other brand, K-Mart. The only hope to save Sears is bankruptcy liquidation and someone buying the remains to start again.
So I have read.
The first ones started showing up in the 2000s and the changeover was well underway by 2012. It’s easy to tell which are which - the Chinese tools don’t have USA printed/stamped/engraved/lasered onto them anywhere whereas most of the older USA made ones do.
-—A catalogue store should have been a natural -—
Sears bought Land’s End and effectively reentered the catalog sales business. Some how it did not fit and was sold. Meanwhile Lands end thrives while sears flounders.
The problem is certainly old men that will not let go of what was
For at least the last 20 years. Big companies die slow, but they’re dying alright.
Most Sears et al stores are in malls. I have the choice of going to the department store and choosing from a mundane selection of regular price items, or going a few feet down the hall to a store specializing in those items with a much more interesting/fashionable selection at competitive prices.
I don’t go into department stores (wal-mart excluded) any more.
NOT a choice of Millennials. Plus I pretty much have bought a lifetime of tools.
Thanks...
A Harbor Freight Store is a necessity to any town I might plan to move to. They are WAY short on 18mm combination wrenches and 7mm Allen keys though. (The US auto manufacturers never got with the German 10, 13, 15, 17, 19 mm thing.)
Nobody else did either. The Germans use odd-number-sized fasteners. Everyone else uses the Japanese standard of even-number through 14mm, then odd numbered in general from 15mm and up.
Yes, Sears is dying a slow death. . . just like Middle Class that supported it for 130 years.
I used to especially shop there for Christmas gifts. Never understood why they went down.
I gave up on them in 1981 so it wasn’t me that did them in.
Yes, Sears IS un-American. The only thing I bought there was tools, but they have gone non-American.
They have two lines, one made in China and the “pro” line made here.
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