Insiders say this is happening in February of all existing Kmarts..The whole side will be going bye bye..Sears side will not be touched which is sad..Having been in a few Sears stores lately brings the question why?? Kmart has and continues to be slammed but the one I work in and the few in my area are doing rather well..But then management means a lot..Its going around that 140 more Kmarts will be closed until they get down to around 200 hundred stores. Those who say the brand is going away I'd say not but everyone seems to have their own ideas.....
9 replies (most recent on top)
@QjlWUTr-4fnm But Kmart has really nothing to offer.
Why would you want to keep 200 stores left?
FYI -- Smaller discount chains like Roses and Shoppers World are extremely profitable. Don't assume that a smaller store count can't be profitable.
@3esg Eddie Lampert will rightfully go down in history as one of the worst retail CEOs of ALL TIME for basically intentionally drawing down two once-iconic retail brands over several years
Then I guess this will be Eddie's last hurrah in retail. I don't believe anyone will ever trust him with the keys to a retail company ever again.
Eddie's not interested in being in the retail business. He wants to be in the real estate business. The Holiday blow out is to get rid of inventory, consolidate the brands under one roof and rent out the space at 10x the current value. Any store that does decent, he takes it away and adds it to his REIT portfolio, which essentially takes it out of the pool of possible good stores that could help the brand turn a profit. Why? He's not trying to get out of the spiral. He wins either way, whether by getting the property, the interest payments from all his loans to Sears corp or if it manages to turn a profit...the profit. Everyone has moved on at corporate. There's a skeleton crew to buy the merchandise if anyone is still selling to them. Move on if you haven't already.
Economics..lol..Functioning brain? Anybody can see where this company is headed and its sad. All the people who worked their whole lives in this company to provide for their families..And poof its all gone and they get nothing but the one who sits on his butt and knows nothing about sweat and hard work gets the monetary reward..Very sad....
@QjlWUTr-tca True that, friend.
"Insiders" are wrong. Sears is as good as dead. Anyone who has an even basic understanding of finance and economics can see what Eddie is doing, which is kicking the can to the end of the year to take advantage of Christmas.
All his deals have been structured around buying just a bit more time.
But of course, understanding this requires two things that nobody has anymore:
1)Basic understanding of economics
2)A functioning brain.
I honestly don't see why they would keep Kmarts around in any way shape or form. The only reason why that Kmarts are slammed lately is because a lot of them are having those pre-liquidation, oh I'm sorry, Holiday Blow Out sale that is going on right now.
Why would you want to keep 200 stores left? Are they really thinking they are going to squeeze anymore decent profit out of them as opposed to just selling off the real estate to another company.