My kmart is hiring 20 people to work for a 4 week special sale. This company is so stupid. Should get some real winners. Also, by the time they are trained, the sale will be over. Never ceases to amaze me the ways we find to waste money. DUMB!!! DUMB!!! DUMB!!!
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This is really aimed at generating profit on aging inventory. Can't sell it if it's sitting in a backroom or in a DC.
Have sales to reduce inventory at the DC. After the DC is empty then the DC closes down. Within a few months because the DC is closed and the distance to deliver is greater any store within a certain distance or longer distance from the new DC will close. Logistics people, logistics.
Is there a list of the 60 stores? I would love to know if my local Kmart is included.
@evp. Your right the less inventory a company has the less a company can borrow.
I am wondering if the next phase is to shut down that D.C. Once it is emptied?
If they dramatically mark down the inventory in a liquidation type sale it will lead to reductions on the books the remaining value of inventory per accounting standards.
Wow, a four week one time sale is saving the company. Throw in a bake sale and a raffle and before you know it Amazon and Walmart will be eating our dust!
We were told this is to liquidate excess inventory from the dc's due to previous store closings.
ebitda is also total nonsense, earnings that dont take into account tax, depreciation and especially interets for sears, is like saying that you "save" a portion of your takehome pay before debts, mortgage, credit card payments, car payments etc - its a useless indicator.
Sorry people Sears is not going to reinvent the liquidation sale
Nope, 4 week one time sale saved the company. Its a Christmas in May Miracle!
How big were the sales increases in Chicago? Must have been pretty large if they were able to make a significant enough impact in just 4 weeks to swing the needle on EBITDA. Does this appear to be a new sales trend for these stores or is it just a one time uptick?
Uh huh....
Store is not closing. This is a test. Was previously done in 2 Rockford IL stores. They completed their test and did not close. So many false things said on her. Fear mongering at it's best.
If it walks like a duck, and quacks like a duck, chances are pretty good, its a duck.
They stores that did this in Chicago went positive ebitda. So hopefully it helps those stores.
Uh huh...
No I dont think your store is closing. There is a program they are trying with additional help and advertising to see if it generates sales. It is just something different. We just heard about it yesterday in corporate.
Yep, that sounds exactly like a liquidation sale. Look out for your fake associate discount to go away in your store next and the colorful signs with large and changeable numbers to be hung from the ceiling.
We were told it was a 60 store test. All current events will end and the entire store will be on sale by merchandise category at different % off.
The kmart that i use to work at is having that sale too. My former co-worker said that in a couple weeks they need to pull all the current signs out and the entire store will be on sale
Thats what they do before the liquidators come in. Your store is closing.
The last sale?