topic Re: Goodby Sears..... in Community Chat

Goodby Sears.....

SeaMaiden — Sun, 04 Dec 2016 13:48:27 GMT

Sears is on the brink of catastrophe as stores closures loom and top execs flee the company

The company is shutting down dozens of Kmart stores this month and two of its highest-ranking executives left this week in the midst of the key holiday shopping season.

This comes following speculation among Sears and Kmart e mployees, suppliers, and several banks that the retailer will soon go bankrupt — something Sears has repeatedly dismissed.

Jeff Balagna, formerly Sears' executive vice president, left the company Wednesday, "in order to focus on his other business interests and pursue other career opportunities," Sears said in an SEC filing dated November 23.

Balagna did not respond to a request for comment. Sears declined to comment beyond what was stated in the filing.

Sears President and Chief Member Officer Joelle Maher also left the company this week, Sears confirmed to Business Insider. The company declined to give a reason for her departure.

The timing of the departures — so close to Sears' upcoming third-quarter earnings report and in the middle of the holiday season — is "highly unusual," according to Mark Cohen, director of retail studies at Columbia Business School and the former CEO of Sears Canada.

Cohen, who was fired from Sears in 2004, is an outspoken critic of the company and its CEO Eddie Lampert. He speculated that the timing of the departures could be indicative of something "catastrophic" in its upcoming earnings report.

Re: Goodby Sears.....

GSPgirl — Sun, 04 Dec 2016 14:00:34 GMT

I thought this was a new article and they were shutting more Kmarts down. Mine isn't closing.

Re: Goodby Sears.....

SilleeMee — Sun, 04 Dec 2016 14:28:57 GMT

This news bothers me in the sense that it indicates how bad our economy is right now. But truthfully, I won't be missing either one of those stores. Can't remember when I last stepped foot in those stores...it's been that long ago.

Re: Goodby Sears.....

QVCkitty1 — Sun, 04 Dec 2016 14:32:13 GMT

I would be sorry to see our KMart go, because that would just leave Walmart in my small community.

Re: Goodby Sears.....

pommom — Sun, 04 Dec 2016 14:35:45 GMT

Oh dear. Where will I go for Kenmore/Whirlpool appliances?

Re: Goodby Sears.....

circles — Sun, 04 Dec 2016 14:38:32 GMT

The KMart in my local Mall closed many many years ago....now has a Kohls.....the Sears which is the anchor at the other end of same Mall...might as well close...you rarely if ever see cars parked at that end of the parking lot...even at the height of the shopping season....

I haven't been in either store in forever...but when I was last in Sears it seemed so old looking... all the merchandise looked like it was still there from when Sears first opened...it was depressing...

Re: Goodby Sears.....

SilleeMee — Sun, 04 Dec 2016 14:42:06 GMT

@pommom wrote:
Oh dear. Where will I go for Kenmore/Whirlpool appliances?

Amazon.

Re: Goodby Sears.....

goldensrbest — Sun, 04 Dec 2016 14:43:03 GMT

Our k mart closed a few years ago, sears is old looking ,i agree i think the on line shopping is what is hurting so many stores now.

Re: Goodby Sears.....

gardenman — Sun, 04 Dec 2016 14:47:23 GMT

Twenty five years ago Sears was perfectly positoned to become what Amazon has become. Their catalogs sold everything anyone could hope to find. They had warehouses and distribution centers set up all around the country. They sold literally everything through their catalogs.

Then their management got mezmerized by the profits they were seeing companies like K-Mart and Walmart making. They decided, "Heck, we can do what they do!" and they threw away everything that made Sears great and instead of selling everything, as they had since the company started, they started selling the same stuff you could buy anywhere else. They were so entranced with the success of K-Mart that they eventually bought the company.

Sears executives forgot what it was that made Sears great and started to copy what others were doing. A transition from a print catalog to an online business would have been easy for Sears. They had the infrastructure already in place. They had vast experience in order fulfillment. They were perfectly positioned to become what Amazon is now, and they threw it all away.

There's been an unending string of bad decisions since then, most recently they started selling their Craftsmen tools through other outlets, so there's even one less reason to shop at Sears now. Sears is the perfect example of how losing sight of what made a company great leads to its downfall. Sears became a great retailer because you could buy anything and everything through their stores/catalogs. They then decided to become "just another store" and like so many other stores, they killed themselves.

Historians will look back at what Sears was twenty five plus years ago and project what would have happened if they'd simply kept doing what they've always done, only transition it to digital. Chances are Amazon today would just be selling books and music knowing they can't compete with Sears. Sears executives bet the company that the future lay in stores like K-Mart and not maintaining a huge inventory. They gambled and lost.

If you've got a successful business that's not like anyone else, maybe, just maybe that's why you're successful. When you start changing what made you successful to be like everyone else, you lose your edge. Sears has lost their edge is heading heading to a cliff. They could have become what Amazon is by simply sticking to what they'd always done. But no, the lure of more profit at less cost led them astray.

Re: Goodby Sears.....

wildcat fan — Sun, 04 Dec 2016 14:54:36 GMT

I like to get Land's End clothing at Sears. I purchased several items there during Thanksgiving weekend sales. I don't bother to look at anything else there besides the Land's End.

A couple of years ago, I went to Sears for a new microwave. Their cost was not only higher than Lowes and Home Depot for the same microwave, but Sears also charged about twice as much for delivery and installation. They can't compete at those prices.

Re: Goodby Sears.....

cherry — Sun, 04 Dec 2016 14:59:29 GMT

The old Sears best products were unbeatable.

Re: Goodby Sears.....

GCR18 — Sun, 04 Dec 2016 14:59:32 GMT

I don't shop Sears, but I would hate to see them close.

Re: Goodby Sears.....

itsmagic — Sun, 04 Dec 2016 15:06:24 GMT

We have a large stand alone Sears store in our area and every time I go in there it is like a ghost town. I fully expect it to close - I just don't know how it keeps going. It will be sad to see it go since our store shopping choices are very limited here as it is.

Re: Goodby Sears.....

JustJazzmom — Sun, 04 Dec 2016 15:10:05 GMT

You walk into a Sears and it's like taking a trip through the Wayback Machine!

Their interior decorations look tired and worn, nothing looks updated. They never kept up with the times, by keeping their interiors as well as their merchandise fresh and interesting.

Non existent saleshelp except for the cashiers and they are overworked too.

I will not miss Sears.

Re: Goodby Sears.....

CareBears — Sun, 04 Dec 2016 15:18:53 GMT

My husband worked for Kmart for 27 years, one day one employee was called into the managers office and was fired on the spot, she had 32 years in, 14 other employees that very same day met their fate, my husband being one of them, in his case they offered him a part time job at minimum wage & no benefits, when he declined that store manager held the door open and told him to leave, within the next 2 years every full time employee at that store was fired (including the store manager), and eventually the store closed! As far as I am concerned they are getting exa fly what they deserve!

Re: Goodby Sears.....

SeaMaiden — Sun, 04 Dec 2016 15:20:11 GMT

@pommom wrote:
Oh dear. Where will I go for Kenmore/Whirlpool appliances?

@pommom I agree! I love this line. Problem is that is all I ever have bought from Sears... washers, dryers, etc. Not enough to keep them in business. Hate to see them go.....

Re: Goodby Sears.....

Marp — Sun, 04 Dec 2016 15:21:50 GMT

@QVCkitty1 wrote:
I would be sorry to see our KMart go, because that would just leave Walmart in my small community.

@QVCkitty1, are we hometown neighbors?

There were rumors about this time last year that our KMart was closing and the store sure looked like the rumor was true. Employees even said the store was closing sometime before summer. Then, thankfully, the hiring sign went up and so far it looks like KMart is staying.

Re: Goodby Sears.....

jaxs mom — Sun, 04 Dec 2016 15:25:37 GMT

@gardenman wrote:
Twenty five years ago Sears was perfectly positoned to become what Amazon has become. Their catalogs sold everything anyone could hope to find. They had warehouses and distribution centers set up all around the country. They sold literally everything through their catalogs.

Then their management got mezmerized by the profits they were seeing companies like K-Mart and Walmart making. They decided, "Heck, we can do what they do!" and they threw away everything that made Sears great and instead of selling everything, as they had since the company started, they started selling the same stuff you could buy anywhere else. They were so entranced with the success of K-Mart that they eventually bought the company.

Sears executives forgot what it was that made Sears great and started to copy what others were doing. A transition from a print catalog to an online business would have been easy for Sears. They had the infrastructure already in place. They had vast experience in order fulfillment. They were perfectly positioned to become what Amazon is now, and they threw it all away.

There's been an unending string of bad decisions since then, most recently they started selling their Craftsmen tools through other outlets, so there's even one less reason to shop at Sears now. Sears is the perfect example of how losing sight of what made a company great leads to its downfall. Sears became a great retailer because you could buy anything and everything through their stores/catalogs. They then decided to become "just another store" and like so many other stores, they killed themselves.

Historians will look back at what Sears was twenty five plus years ago and project what would have happened if they'd simply kept doing what they've always done, only transition it to digital. Chances are Amazon today would just be selling books and music knowing they can't compete with Sears. Sears executives bet the company that the future lay in stores like K-Mart and not maintaining a huge inventory. They gambled and lost.

If you've got a successful business that's not like anyone else, maybe, just maybe that's why you're successful. When you start changing what made you successful to be like everyone else, you lose your edge. Sears has lost their edge is heading heading to a cliff. They could have become what Amazon is by simply sticking to what they'd always done. But no, the lure of more profit at less cost led them astray.

Maybe 40-50 years ago, but 25 years ago? The company hasn't even published the Sears catalogue since 1993, so IE 23 years ago.

Re: Goodby Sears.....

Burnsite — Sun, 04 Dec 2016 15:35:20 GMT

I like my local KMart and prefer it to Target or Walmart for the kind of small items I buy. The same people have worked there since I moved to this neighborhood in the 1990s, and I like that, too.

Anyhow, it seems to be always busy so I will hope that my nearby branch stays open. The Sears at our local Mall is a little depressing these days, but I have long used that store for major appliances.

It's just that I only need a major appliance every decade or so, and I never finance such purchases or purchase an extended warranty. I wonder how many "appliance" regulars shop the store for other things. I gather that this financing element is where Sears makes its profit.

In our branch, the drawback is that even the smallest purchase at Sears takes so long to complete. Last time I bought vacuum cleaner bags I felt as if I was closing on a mortgage.

Re: Goodby Sears.....

gardenman — Sun, 04 Dec 2016 15:40:29 GMT

@jaxs mom wrote:
@gardenman wrote:
Twenty five years ago Sears was perfectly positoned to become what Amazon has become. Their catalogs sold everything anyone could hope to find. They had warehouses and distribution centers set up all around the country. They sold literally everything through their catalogs.

Then their management got mezmerized by the profits they were seeing companies like K-Mart and Walmart making. They decided, "Heck, we can do what they do!" and they threw away everything that made Sears great and instead of selling everything, as they had since the company started, they started selling the same stuff you could buy anywhere else. They were so entranced with the success of K-Mart that they eventually bought the company.

Sears executives forgot what it was that made Sears great and started to copy what others were doing. A transition from a print catalog to an online business would have been easy for Sears. They had the infrastructure already in place. They had vast experience in order fulfillment. They were perfectly positioned to become what Amazon is now, and they threw it all away.

There's been an unending string of bad decisions since then, most recently they started selling their Craftsmen tools through other outlets, so there's even one less reason to shop at Sears now. Sears is the perfect example of how losing sight of what made a company great leads to its downfall. Sears became a great retailer because you could buy anything and everything through their stores/catalogs. They then decided to become "just another store" and like so many other stores, they killed themselves.

Historians will look back at what Sears was twenty five plus years ago and project what would have happened if they'd simply kept doing what they've always done, only transition it to digital. Chances are Amazon today would just be selling books and music knowing they can't compete with Sears. Sears executives bet the company that the future lay in stores like K-Mart and not maintaining a huge inventory. They gambled and lost.

If you've got a successful business that's not like anyone else, maybe, just maybe that's why you're successful. When you start changing what made you successful to be like everyone else, you lose your edge. Sears has lost their edge is heading heading to a cliff. They could have become what Amazon is by simply sticking to what they'd always done. But no, the lure of more profit at less cost led them astray.
Maybe 40-50 years ago, but 25 years ago? The company hasn't even published the Sears catalogue since 1993, so IE 23 years ago.

Twenty five years ago they still had their distribution warehouses, delivery trucks, and full range of specialty catalogs selling just about anything. As you say they got out of the catalog business 23 years ago, but two years before that they were still perfectly set up to become what Amazon is now. In fact with their combination of catalog and brick and mortar stores they were better positioned than Amazon who is only now branching out into the brick and mortar world.

Had Sears hung onto the catalog business for two more years until Windows 95 and the first Internet Explorer came along, then transitioned from print to digital, they'd likely be bigger than Amazon will ever be and thriving. That first verison of Internet Explorer opened up the Internet to millions of people who knew little or nothing of it prior to that. The presence of the old Sears with their full range of products would have been hard to beat for any competitor.