Posted on 08/23/2018 11:58:09 AM PDT by Responsibility2nd
The company said this week it is shuttering 46 more stores in November. The locations are spread across the United States (See a full list below.)
"We continue to evaluate our network of stores, which is a critical component to our integrated retail transformation, and will make further adjustments as needed," the company said in a statement.
Liquidation sales at the 33 Sears stores and 13 Kmarts are expected to begin next week, according to Sears. The company also said that eligible workers will receive severance and be able to apply for openings at other nearby stores.
Sears said in January it was planning to shut more than 100 stores. It then announced another round of roughly 100 store closures in May. Sears was operating 894 stores as of May 5, which is the latest available total provided by the company.
With CEO Eddie Lampert at the helm, Sears has been trimming its real estate footprint as sales dwindle at its stores and shoppers increasingly opt to ring up purchases online or outside of shopping malls. Sears is currently evaluating a bid from Lampert's hedge fund, ESL Investments, to buy the Kenmore appliance brand from Sears for $400 million. The company had previously sold its Craftsman tool brand.
Sears is still testing new concepts, like stand-alone mattress stores and combined Sears and Kmart locations, but retail analysts say it will be hard for the company to bounce back from its dire situation.
(Excerpt) Read more at finance.yahoo.com ...
Return policy at Sears was
“Satisaction guaranteed or your money back at Sears.”
I remembering arguing with a Sears clerk when trying to return something; might have been in the 70s.
Now Amazon is the king of customer service. They really have taken it to a new level. And as much as there is to dislike about Bezos, he has had as large of an impact on the USA and her shoppers as Sam Walton.
BOOM!
It would deeply sadden me if Sears were to go under.Sears is Americana...Sears is America.I’d much,*much* rather see Amazon go under.
It’s not the CEO...it’s the Board that is the problem.
The CEO’s job is to do the will of the board.
The strange thing is that Sears was Amazon before Amazon.
They had a hundred year lead on Amazon and still lost.
No more Hamilton Mall Sears - sad.....
Sears was the first credit card I owned. Because there wasn’t any such thing as debit cards in those days it had a severely limited credit ceiling.
I had to freeze all my accounts when I went through a divorce and when it came time to un-freeze, Sears required me to reapply. It then declined me as a poor risk - because of my divorce. It mattered not that I protected them as well as myself by my actions.
I walked away then and never looked back (well, except for that time I asked them to honor their lifetime warranty on a Craftsman tool and they refused).
The Brady Bunch era was like the last time Sears were popular.
I knew when I saw the signs in Spanish in the stores that they were going downscale.
One of the stores closing is LaCrosse WI and last November they had so little stuff on the racks that I expected them to close soon at that time.
“The Brady Bunch made it work.”
Ah yes, the Brady’s loved them some Sears.
https://www.youtube.com/watch?v=Q4h7chFGQw8
I always think of that line in Billy Joel’s “Scenes From An Italian Restaurant”.....
They got an apartment
with deep pile carpet
And a couple of paintings from Sears
(Sears sold paintings?!?!?!)
Yes, but they had offices in that really nice office tower in Chicago. Think about how much value that brought to shareholders.
“One can hope...”
C’mon....they have a great tool department!
“Sears^ Oglethorpe Mall, 7810 Abercorn St Savannah GA”
Sad to see this one go. Spent a LOT of money in this store over the years.
Last time we went in, looking for some tools, there weren’t any. The shelves were bare.
That’s why the upstairs windows have flower boxes.
They sold off Craftsman last year.
I’ve been to 3 of the different Sears locations on this list. Although it was a long time ago.
It is disppointing to see Sears fall like this.
When I was little boy I enjoyed looking at the toys in the Sears Christmas Catalog books.
I always remember the scene from Shane. Van Heflin in Grafton’s store paging through the Sears catalog. Men’s hats women’s corsets. I guess their business decisions merit this, but still sad.
Boy do I remember that catalog, couldn’t wait for it to come.
That they did not covert that massive infrastructure to the internet during the mid 1990s is inexplicable.
It was as dumb as Kodak deciding to stick with good old film once everybody started buying digital cameras. (Something they invented by the way.)
“(Sears sold paintings?!?!?!)”
Whaddya know? Seems they did, even commissioned Vincent Price to acquire the paintings for them.
“included gallery paintings and other works by Rembrandt, Chagall, Picasso, Whistler and many contemporary artists of the day. It included a watercolor by Andrew Wyeth and a painting by Salvador Dali commissioned by Price.”
https://www.artistsnetwork.com/artist-life/vincent-price-sells-gallery-paintings-sears/
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