Over 50 outlet and hometown stores closing between June 23 and July 23. 10 closed this tuesday, Where is the reporting ?
10 replies (most recent on top)
Maybe there's no inventory to buy and they can't get merchandise from Sears
more than half oft he stores are independently owned. They buy the vast majority of inventory from Sears
A majority of the locations are actually company owned. When they were separated from Sears Holdings, the real estate they occupy went with them. As Eddie has already sold Craftsman and still wants to sell Kenmore and Diehard, the brands will no longer be exclusive. As the branded items make up the bulk of the Hometown stores' sales, there will be no reason for them to exist anymore. Yes, separating them from Sears was actually another real estate play. The reason they franchised them was so Lampert could get someone else to foot the bill until he monetized the value.
SHOS hasn't released it to the "public" yet even though they considered letting me and my staff know being "public". Not all stores that are under SHOS are independently owned. Actually on the Home Appliance Showroom side there are only 2-3 independent owners left. They announced they were closing my store to me and my associates on Tuesday--had a conference call on Thursday to give details but really not much information at all.
They have promised advertising, but I have yet to see any. Not a lot of support from my direct report either. Their reasoning behind my closure was rent and overhead were astronomical and if we are being honest here it was and it was in a sh-- location so being in the "black" was basically impossible. They've offered us all a transfer but the store we can transfer to has low profitability as well. Property tax AND rent is high there and in the years it has been open it has only been profitable 2-3 times. I'm not jumping from one sinking ship to a ship that's on fire not only that but that store is being run poorly by its new manager. They have turned off our ability to sell new merchandise and online order receiving. No deliveries, install only if they'll come get it from the store. They don't care if the merchandise gets sold. They've already told me that what is left is being transferred to an ORDC to be tested and sent to Outlets. The worst part is up until April we were independently owned and SHOS bought us back. Played the game like they were going to keep us and then BOOM store closure. I'm really disappointed on how they handled this. But there is nothing I can do so why have an aneurysm.
I wish there was some news coverage so we had some advertising. But because the full line near me is also closing everyone is focused on that. They've been open for 60+ years.
I hope they can get their sh-- together so I don't
Have to hear about my colleagues losing their jobs as well (other than the ones who are being laid off with me) it could be a great company if they would just get their head out of their butt!
@1cnt you are partially right. Some hometown and outlet stores are franchised. I do not know the exact percentage.
But more Sears Hometown and Outlet stores are becoming corporate due to franchises walking away and handing the store over to SHOS.
There are several lawsuits against SHOS/SHC even Sears Canada due to hometown franchise being screwed with.
mse-- get a clue and learn about the company you work for. Each outlet and hometown store is a franchise and they get their inventory from SHC. Quit being an uninformed, kool-aid drinking idiot who works for a company and knows nothing about that company.
Tuesday citizen voice newspaper.Wilkes Barre pa.
All part of sears. They get stock from sears. They get deliveries from sears. That answer your smug reply
And this has what to do with SHC?
Do you have a list?