Thread regarding Sears layoffs

Sears stores are in the midst of a great transformation: Most of the stores will be transformed into locations for other businesses. THAT is the only transformation that will continue as far as Sears is concerned. I will sum it up for you very simply: If this company had a true future, I would not log in to a SNC every day that has a default date of 1999, or 2000! We attempt to complete various tasks that are vital to the every-day business with these SNC's, but Sears cannot provide equipment that is more recent than the Clinton administration? I rest my case. I feel like a man on Naked And Afraid, trying to start a fire, with several boxes of drenching-wet matches and the woman(Sears), wanting to know why I am complaining, and that I just need to get the job done.

There are 3 relatively new Sears appliance and mattress stores that were opened by Sears Holdings.

These stores are not owned by Sears Holdings. They are Sears Hometown and Outlet stores, a completely separate company with a separate stock symbol that was spun off years ago and is closing over 100 stores a year.

@Qa6gY7x-1nid I'm hoping those were all jokes.

The new and reopened stores are expected to contribute 30 billion in sales, and 3 billion in profits. They are going to reverse years of declines, and reward stockholders with share prices exceeding the post merger mania. We are truly entering a golden era!

The selling of stores may just mean that Seritage will buy them, with the cash paid going to fund the pension obligations, not to the company coffers. Seritage can keep them as Sears stores, but they are really interested in maximizing rents per square foot. If Seritage can find a higher paying renter, the Sears stores will close. Eventually, all Sears stores will go away, but these 140 will probably linger a bit more.

The selling of stores DOES mean closing stores. What alternate reality in Hoffman Estates are YOU living in?

You losers will hold on to any sort of "good" news you can. Meanwhile you'll probably be laid off like the rest. Your transformation to the unemployment line continues.

The larger stores were designed to be fully staffed. The costs to maintain and operate one properly are huge.

So if-

You close most of the stores down, keep about 10 of

them for regional warehouses and office space,

lay off all the existing retail workers and open much smaller stores with lower operating costs and new part time staff without benefits . Voila , transformation.

This is only for mattresses and appliances not the full line stores that everyone works at now. So you are getting excited about something that is going to affect a lot of people if this is the "new transformation" that corporate is talking about.

Expect the shorts to come home tonight, get on this site and start posting random new threads to bury this good news. They do it every time

Selling property doesn’t mean store closings.

This is great news, stop with the attacks

Yea tell that to all the stores closings amd the 140 others going to be closed to fund the pensions, yes great job Eddie

This is another good story, as an employee I feel better reading things like this. Who are u people that are rooting for bankruptcy?

The "Transformation" like it happened in Canada right?

Then a few weeks later they declared bankruptcy.

O.P.-- Totally agree. But please be aware of the language that has been used. This is very specific language for investors and to cover their back sides. The word "Transformation" means that they are turning the company into something that it is not now, something that is totally different than what they are now. The appliance and mattress store may be part of that "transformation" but be aware that the retail side (brick and mortar) will soon be no more. So unfortunately, if you work at a Sears or Kmart retail store you will soon be out of a job. Read it and weep.

Trolls from corporate out in force I see.

Agree with OP. Read it and weep haters. Sears Holdings will be around longer than you.

“Read it and Weep haters”???? Comp stores for Sears and Kmart were down 17% and 13% respectively for the 3rd qtr.. plus $4B in debt.. Keep putting lip stick on the pig buddy.