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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsSears is on the brink of catastrophe as store closures loom and top execs flee the company
Things aren't looking good for Sears.
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 employees, 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.
http://www.businessinsider.com/sears-problems-loom-large-2016-12
DemocratSinceBirth
(99,705 posts)Squinch
(50,774 posts)CountAllVotes
(20,854 posts)That is what I did. Excellent dishwasher that I bought 10 years ago and works perfectly! As for Kenmore products, this is sad indeed.
Sears did it to themselves IMO. The dishwasher might be $500.00 but you need another $200.00 for a warranty and another $25.00 to have an old dishwasher removed, another $50.00 for extra parts needed to install it and alas, sales tax on top of it. That $500 dishwasher just cost you abt. $800.00 there ...
Most places will do all of the above free of charge (sales tax is inevitable) but, you don't tend to get nickel and dimed to death!
Squinch
(50,774 posts)Bosch is my other choice, but I have read a lot of reviews that say that it doesn't drain correctly and has a smell. Have you experienced this?
I as really surprised to find that after the ConEd rebate and a coupon, it's as cheap as the other brands.
CountAllVotes
(20,854 posts)It was installed when I had my kitchen remodeled.
I would never try doing it myself. You really do need the skills of a professional.
That said, very satisfied with it and the reason I bought it is because an 80-year old woman I know said, "Yeah! I finally got a dishwasher that actually gets my dishes CLEAN and it is handsome too!". It is handsome I'd say. I got one in the color black btw. all the way IMO.
Squinch
(50,774 posts)CountAllVotes
(20,854 posts)Seems she's had several dishwashers in her day and none of them really did the job to her satisfaction. I know little about new anything so I went with her advice. No regrets after 10 years! I must admit however that I do not use it a whole lot, just when I have a big load of stuff! Great for sanitizing, that is for certain!
I think you'll be happy with it!
philosslayer
(3,076 posts)The brand is worth too much. Likely sold to someone.
Yo_Mama_Been_Loggin
(107,103 posts)The only good product lines Sears has
Omaha Steve
(99,071 posts)http://www.foxbusiness.com/markets/2016/08/25/sears-puts-kenmore-craftsman-up-for-grabs.html
Matthew Rocco Published August 25, 2016 Retail FOXBusiness
Sears Holdings (SHLD), which booked another loss in the second quarter, has received interest from a variety of companies eyeing the floundering retailers familiar appliance, tool and auto brands.
The Illinois-based company has grappled with challenges at Sears and Kmart, two chains that struggling to turn things around in a tough environment for retailers. Target (TGT), Kohls (KSS) and others have recently reported weaker sales as shoppers spend more online. Sears is facing some broader issues. The company has posted red ink for the last six fiscal years, and 78 additional Sears and Kmart stores will be closed by the end of the summer.
In May, Sears announced plans to seek out buyers or partners for its Kenmore, Craftsman and DieHard brands, hoping to unlock the value of three brands that are well-known in their respective categories. The company provided an update on Thursday, saying it continues to explore strategic alternatives for the brandshoused under a division known as KCDand Sears Home Services. Sears is considering potential partnerships or other transactions that could expand distribution of our brands and service offerings to realize significant growth, the company said in a statement.
So far, Sears has heard from domestic and international retailers, original equipment manufacturers, investors and other firms. Sears expects to continue its assessment over the next few months.
FULL story at link.
csziggy
(34,120 posts)Some Kenmore appliancess are/used to be Frigidaire made. The Kenmore refrigerator/freezer set I have was also sold as a Frigidaire brand even though they were actually made by a Canadian corporation for both companies.
If you look there are lists on the internet that tell who made which Kenmore appliances over the years.
That said, when I went into Sears during their spring appliance sale to buy appliances for my new house in 2008 they were happy to sell me Frigidaire branded appliances (wall oven and dishwasher). They saved me a lot of money - the sale had everything 20% off, the two Frigidaire appliances I bought had an additional $500 rebate. Then I got a bid from a local appliance store with contractor prices for the same appliances - Sears matched the prices and gave me an additional 10% off - even the Frigidaire equivalent refrigerator/freezer set.
I paid less for those four appliances than I would have for just the refrigerator/freezer set!
There were no hard sell tactics and no effort to sell me extended warranties or installation. They also kept the appliances for almost six months at no extra charge until we were ready to put them into the new house.
NutmegYankee
(16,177 posts)They're still be around.
Squinch
(50,774 posts)They are identical.
Mine broke - the door fell off on December 23 in a year that I was expecting 20 for Christmas dinner, which is already an acrobatic feat in my 8x10 kitchen, and we had to use duct tape and prop it up on phone books to get through the party...
...but I digress. Hers is still working, though.
madaboutharry
(40,152 posts)Back in the 1960's my grandfather worked for Sears selling washers and dryers. He worked in the Sears store in Torrance, California. They lived in Manhatten Beach, so I'm sure it was the Torrance store. My mom said it was a beautiful store back then with the green script signage. My grandfather loved his job and thought that Sears was the greatest company to work for. He made a nice living and benefited from stock options that set my grandparents up with a nice savings. It was a different world. Sears screwed up badly in the 1980's with a lot of disastrous business decisions that it never recovered from.
It's really a shame.
Ghost of Tom Joad
(1,352 posts)she loved their profit sharing program and left before they discontinued that wonderful program. It did leave her with a wonderful retirement. She passed away several years ago and I'm glad that she's not here to see the demise of Sears. I have wonderful memories of Sears, the great candy department they had with nuts and popcorn. Also the wonderful Christmas catalog. Perhaps he who shall not be named can save the store and make Sears great again.
Squinch
(50,774 posts)I didn't really want a lot of toys, I just loved looking at pictures of so many in one place!
dawg
(10,610 posts)He has driven Sears into the ground with his idiocy. This guy's supposed to be a Wall Street genius? Forget it.
Iggo
(47,487 posts)The he's a goddam Wall Street genius.
dawg
(10,610 posts)Lucky for him, he's independently wealthy apart from his interest in Sears Holdings.
femmocrat
(28,394 posts)Is this the final death knell?
dixiegrrrrl
(60,010 posts)About 3 years ago the manager of the Sears here in our small town quit his job and put his house up for sale ( 1/2 block from our house).
I had noticed that there was practically zero traffic into the store for some time.
Might be stores in larger populations were dying off more slowly.
I never understood why they bought K-Mart, cause K-Marts were crumbling everywhere I looked.
lpbk2713
(42,696 posts)Probably because they are in the local mall and I'd rather stay away from that place.
NRQ891
(217 posts)well, not really
I've never seen a company so frozen in 1974
this could be the death blow to malls - that still have a sears
DemocratSinceBirth
(99,705 posts)Achilleaze
(15,543 posts)It worked with Carrier (wink, wink). No doubt Republican-style Corporate Welfare will work with Sears (wink, wink).
Especially because once the Republicans kick all the Medicare, Medicaid, SSI, SDI and veteran's benefits under the bus, Republicans will have lots more taxpayer dollars to bequeath to their Corporate Buttkissers (R).
hughee99
(16,113 posts)Nt
Achilleaze
(15,543 posts)Uben
(7,719 posts)I haven't shopped there in over 20 years and will never again. Their policies are what killed them, so the blame lies solely on the execs running the business. Cheated me out of $250. I called and cussed out the highest form of management I could get contact with. I'm hoping they go down in flames, but am sorry for the employees who need the job.
kimbutgar
(20,882 posts)My parents always brought their appliances at Sears and I used to but I brought my most recent refrigerator at Best Buy because I brought a crappy Kenmore one that lasted 8 years before the inside light burned up the inside of the refrigerator.
The crazy lambert used the company like an ATM. Just when chetolini gets in all these people will lose their jobs. I have a niece who lives in aarizona who is a right winger and is a manager at Sears. She will be out of work soon. Will her president Cheeto bribe Sears to stay in business?
lunasun
(21,646 posts)appeal might make it a marketing tool for Trumplandia. My friend bought new appliances and was disappointed. The people fixing the appliances were nice and on time but one shouldn't have to see a repairman more than once and this wasn about multiple new appliances , not one , all new
lunasun
(21,646 posts)As for KMART they seem done
marybourg
(12,540 posts)just before they could have piggy-backed it onto the internet. What a waste of merchandising experience.
Response to lunasun (Reply #19)
Duckhunter935 This message was self-deleted by its author.
Barack_America
(28,876 posts)Or similar affordable housing.
Travis_0004
(5,417 posts)It was installed in 1977, so it turns 40 next year. At this point I just want to see how long it will last.
wishstar
(5,267 posts)I was surprised to see half of the entire upstairs of my local Penney's converted to be full of stoves, washers, fridges, large appliances last week, and wondered if they must think Sears is going under soon and they are positioning to take advantage of the market opening if Sears folds, since some Penney's are located in same malls as Sears. Their shift into appliances is going to further hurt Sears sales.
Freddie
(9,232 posts)We got a TV and our first VCR at Penney's, back in the 80's they sold appliances and had their own brand IIRC. They stopped when they decided to concentrate on clothing and domestics (curtains, bedding, etc.). Smart move to get back into appliances. The mall near us has Sears, Penney's, Macy's and a big empty store that used to be a Boscov's.
blm
(112,920 posts)That fact just doesn't get mentioned enough.
Initech
(99,915 posts)Response to FarCenter (Original post)
Duckhunter935 This message was self-deleted by its author.
Freddie
(9,232 posts)Our local Kmart closed last spring and they brought in massive truckloads of clothes (mostly women's) and sold the stuff ridiculously cheap. I got bagfulls of tops, sweaters and pants some for $2 and $3.
Response to Freddie (Reply #42)
Duckhunter935 This message was self-deleted by its author.
csziggy
(34,120 posts)I picked out a number of things to buy - but couldn't buy anything. I waited in line with several other people and no one showed up to ring up our purchases. After ten or fifteen minutes I gave up and left my cart full of stuff at the front of the store.
That store had been a terrible place to shop for years before it closed. The shelves were never well stocked, there were never any salespeople to help, and it was always dirty. And that was decades before KMart and Sears were owned by the same group.
Vinca
(50,170 posts)baldguy
(36,649 posts)JHB
(37,132 posts)Initech
(99,915 posts)Seems to me that this is becoming another Borders - classic case of "take the money and run".
FarCenter
(19,429 posts)...
Lampert is an avid follower of Ayn Rand and has used elements of Rand's philosophy to guide his business decisions.
https://en.wikipedia.org/wiki/Edward_Lampert
I think that the basic scheme was based on the fact that Sears owned a huge amount of real estate that was carried at historical acquisition cost and was worth a lot more than showed up as assets on their books. This real estate could be sold to real estate trusts and then leased back from the trusts. The proceeds from the sales would find their way to Lampert's pockets.
MFM008
(19,776 posts)When my dad was alive he would go to the big Sears store in the Tacoma Mall first.
Our furniture. .carpets..toy's. ..all came from Sears. It was the middle class...now going the way of the middle class.