Thread regarding Kmart layoffs

"Kmart workers believe all the stores are going to be imminently shut down"

"Store-level employees who spoke to Business Insider said many of the remaining 941 Kmart stores now appear to be in the midst of liquidation. Stores are being entered into numbered phases — such as Phase 1 and Phase 2 — employees said. The company has told employees that the phases are part of a "P2P" or "path to profitability" strategy to make stores more profitable. But employees say it's a liquidation plan, with each phase triggering different cost-cutting measures such as layoffs and labor-hour reductions."

http://finance.yahoo.com/news/kmart-workers-believe-stores-going-162400821.html

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| 1451 views | | 2 replies (last July 26, 2016) | Reply
Post ID: @OP+IxyBPIs

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Regarding KSNs being grossly overpriced, there was a change in the pricing strategy. Regular price, which appears on shelf labels, is not necessarily the price the buyers and marketing intend to sell at. The "sales" strategy is like Bed, Bath and Beyond, where everyone and anyone can use a 20 percent off coupon. With 90 percent of members being given coupons and surprise points, marketing is wise to know the customer who can make their own discount is often a returning and repeat customer. Applying the law of averages, a loss on one member's transaction with the next one from same member being a highly profitable transaction means there is good margin across the board.

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Post ID: @2yed+IxyBPIs

No fire here, just smoke - not all stores have been mandated to clear their backrooms. Since the earlier store closure announcement, the amount of freight my store receives from the DCs has increased. How could we possibly put this junk onto the sales floor when (1) it is unwanted by the public, (2) is too high of counts to fit onto our shelves, (3) many are special orders with no dedicated planogram, (4) most KSN's are grossly overpriced, and (5) current staffing levels prevent us from moving the previous truck's freight from receiving let alone "working" the current truck's freight? My store is a monopoly, allowing us to achieve great profits year-over-year; I keep praying for the day in which our stockrooms are bare but expect bankruptcy before anyone in Hoffman Estates takes the initiative to adjust our distribution system to match the needs of our "Members."

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Post ID: @bhz+IxyBPIs

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