Just a rumor, but heard they will announce closings of 89 Kmart stores in December, then the remaining Kmart's will be remodeled. I believe the closings will occur, but doubtful about the remodels. If "Blulighter" is still around or anyone else finds a list, share with the rest of us.
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Pulling advertising for a store before Christmas is not a good sign. Am guessing they are accelerating closings to get as much cash in Q4.
They just announced that earnings will be released Thursday before the markets open. All the other dates mentioned below were just speculation. By law sears has 35 days from the end of the quarter to release earnings which would give them to the 5th at the latest.
What about stores that had their circulars pulled over a year ago and are still open?
All those stores in Alabama, Georgia and New Jersey who are having their circulars pulled from store and home delivery distribution this month are going to close in 2017.
It's business as usual though.
Store closings are a near certainty. Remodels seem highly unlikely. The problem is a remodel doesn't provide the instant return on investment Eddie requires.
As for the scheduled training of a manager in Alabama, don't take any comfort in this. It's always "business as usual" right until the last minute. Maybe the stores in some states will go before others, but all SHC stores are doomed.
they have their earnings report completed by 12/1 but don't publicize it until 12/5. I am guessing though that business sites may start reporting after 12/1 about expected earnings or rumored results. Being a publicly traded company and a struggling one at that their report is their chance to try and make ok things look great and bury the very bad in text and not easy to look at graphs. I am guessing it takes a while to make that report for Sears holding considering their issues
I read that the Q3 reports were due on 12-1. Now there will be a delay until 12-5(a Monday)? They knew the numbers on 11-1.
Those numbers will not be good. I will bet we lost 385 million for the quarter.
Earnings report for Q3 is confirmed for 12/5 next Monday. You just have to look at the stock websites since Sears is a publicly traded company they have to announce earnings report for stockholders (I am not one) of course
Mass store closings are the norm with 1/4 of the chain being shutdown yearly. If the first round hits in January, my money is on stores in states which raise their min wage on Jan 1. At $15/hr, kiss the three stores in Washington state goodbye.
I have researched when the Q3 reports were released and in 2012 it was on 11/15, in 2013 it was on 11/21, in 2014 it was on 12/4, and in 2015 it was on 12/3. So if I had to do an educated guess, I would say that it would be released this year either on 12/1 or 12/8 unless they think they need a lot more time to spin things positively in their reports!
Correct. No remodels-only real estate liquidation of lease expirations.
Training doesn't mean anything trust me. When the decision is made it is done outside of the market they could have no idea that it's coming and expect the store to be there until it's not
I work in an Alabama store and we just a new store manager who's supposed to start his official training in Jan., so I doubt they'll close all the Alabama stores (just yet anyway).
I wonder when 3rd quarter results will be announced. It ended October 31st. Does it take that long to put a positive spin on what will likely be horrendous numbers?
The pulling out of complete states has began.
Latest rumor I heard was approximately 100 Kmart's would be announced in January.....and would include all Kmart's in Alabama. Didn't hear a thing about remodels......
they do not have a pot to pee in or money for remodels
Eddie will close more stores after Christmas but there is no way in h*ll he is going to remodel any leased buildings. Most of the Kmart's are leased and so run down it would take way too much money that he could not recover.
I don't think it's likely to see any official closing list until after Christmas, but with this company you never know.