Sears Holding is Closing 100 to 120 Stores

[OverDone]

Last edited Fri Dec 30, 2011, 09:57 AM - Edit history (1)

This morning, Sear Holdings announced that it would close 100 to 120 Kmart and Sears stores.

http://www.businessinsider.com/sears-holdings-kmart-2011-12

** Updated **
List of the current Store Closings only 79 so far. Click see the List on the page
http://money.cnn.com/2011/12/29/news/companies/sears_stores_closing/index.htm?iid=HP_LN


It will be interesting to see how retail act now that the holiday season is almost over.
Just a waiting game at this moment

http://www.dailyjobcuts.com

[dixiegrrrrl]

1. Article points out that is 3% of Sears stores.

for the record, however, Sears stock is :
52wk Range: 43.99 - 94.79
and pundits have put Sears on the "may go under by next year" list.

Lands End "On Sale" items are a heck of a bargain right now, tho, I stocked up this Christmas.

[NMDemDist2]

12. i got a crazy discount on a high end electric blanket

the sales were deep deep discounts...

[hlthe2b]

2. Damn... I wish they'd divest of K-Mart...

I think it has drug them down. I'd much prefer that Sears survive.

[AngryAmish]

10. Problem is KMart is making the money

First and foremost, SHC is run by money managers, not retail guys. They never wanted the companies. They bought the companies because Sears and KMart own a lot of real estate. Then the bottom fell out of the real estate market and they are stuck with the companies.

I know some folks who work for Sears/K Mart. I wish I could tell you how fucked up it is. People are afraid to go to work. Initiative is punished. Little money is put into the stores.

What is Sears? What does it mean in 2012? Is it Target? No, too expensive and dowdy. Is it Macy's? Not enough style.

At least K Mart is K Mart. Cheap stuff.

[hlthe2b]

11. Sears has bailed me out many a time with appliances or auto service early onwhen I was struggling...

Their Kenmore brand (though all appliance brands are now made overseas and thus diminished in quality--a given) still are overwhelmingly better than Whirlpool and GE, that break in the first 24 months--if they last that.

Yes, I see your point.. So many stores are so desperately in need of remodeling and though they took on Lands End, Sears hasn't captured a niche' in retail. I've never been a fan of KMart, but loss of Sears would really make me sad. Damn, if JCPenney's can recruit a former Apple CEO to turn them around, why the hell can't Sears?

[hlthe2b]

21. No not all... One can research (as you SHOULD do) and find out which are and which are not...

I have routinely done so and if pressed, Sears will help you find out which models are and which are not. An educated consumer is a SMART consumer. Kindly don't assume me to be otherwise.

[Riverman100]

22. not exactly

Lower end Kenmore is made by Whirlpool, but the better machinrs are mostly LG with some Samsung and Electrolux thrown in.

[hlthe2b]

23. That's right. n/t

[OverDone]

27. Interesting

So, pretty much the idea is just to weed stores out..

[pstokely]

41. Sears is a relic

The same Chinese made crap as Wal-Mart, just more expensive

[demosincebirth]

45. Please don't campare Sears with Wal Mart, the bottom of the trash heap.

[blue_onyx]

47. Disagree

I've only been in Walmart a few times but the things they sell, particularly clothing, are definitely inferior to the merchandise at Sears.

[pstokely]

51. Same crap Best Buy or Home Depot has at higher prices

At least many pawn shops are locally owned

[blue_onyx]

55. The prices are about the same.

For example, here's a Samsung television. Same tv, same price.

http://www.bestbuy.com/site/Samsung+-+32%26%2334%3B+Class+/+720p+/+60Hz+/+LCD+HDTV/2893174.p?id=1218361269835&skuId=2893174

http://www.sears.com/shc/s/p_10153_12605_05771072000P?keyword=ln32d403|&sLevel=0&redirectType=SKIP_LEVEL&prop17=LN32D403|

[sybylla]

29. The reason is that Sears has totally effed up Kmart since they acquired it.

I'd be glad if they'd divest themselves of it, too. It could be a much better store - it once was. But Sears is so afraid that a strong Kmart might compete with their Sears brand that they put nothing into it.

[leveymg]

3. Pretty soon, it will be like the old Soviet Union - two stores, one for elites and the other crap

items for the masses. I'm thinking Nieman Marcus and Wal*Mart may survive, but little in between.

[freshwest]

16. I've noticed, but that's capitalism at its peak. The middle class created diversity and jobs.

[leveymg]

25. American Capitalism in decline becomes more and more like old Soviet Communism - a dual-tier economy

with a missing middle.

Convergence theory at work, or is this simply a reversion to the norm for capitalism? Are socialization of risks and privatization of gains causing the disappearance of and gradual immiseration of the American middle-class?

Which model fits? Or, is what we call "globalization" really a new phase of development with a different economic and social dynamic?

[freshwest]

30. Perhaps a function of stratification. Can happen in any system. Propaganda muddies it.

I think globalization, not neccesarily in the way we term it now, has always been and is natural. Archeological records and mythology give credeence to the idea that people have traveled the world for trade, during eras it would seem impossible to do without our technology.

That happened before the colonization of the world by the Europeans, the one we are most familiar with, but certainly not the only time that empires spread out and grabbed resources and people to benefit of a few in the long run.

The problem in all cases is the lack of balance and the way the wealth was confined. Also the consciousness that makes people thing they really are different from other people and life forms and that excuses the pillaging. Okay, so I'm getting woowoo, there.

I've been considering lately about how this that we currently decry has benefitted people, not just the 1%, but all of us. The elite for their own benefit, concentrated knowledge and resources and created our modern world. At a terrible cost. Perhaps all of this was inevitable.

Sorry if I can't answer your good questions , I'm jusr not thinking in those terms now.

[JDPriestly]

36. True. American capitalism is becoming more like the Soviet model.

I traveled in Eastern Europe during the years of Soviet domination -- not a lot but enough to notice that a lot of the fabrics and styles we are now seeing in the store, especially the prints on the fabrics, are reminiscent of the Soviet era.

[snagglepuss]

60. I very rarely shop at Sears but I received a gift certificate so I went there yesterday to check

Last edited Tue Dec 27, 2011, 10:38 PM - Edit history (1)

out purses and shoes. Growing up in the 60s and 70s we'd always shop at Sears so I know the sort of quality merchandise it used to sell, or should I say the range of merchandise it used to sell. The stuff that was cheaply made was cheap to buy. Not anymore. Now everything is cheaply made and high priced, even with big mark downs. Cheap plastic purses marked down to $49 weren't worth $10. Dollar stores sell the same low-end crap without the brand for $12. I was dumbstruck.

[OverDone]

64. Thats where the Quality Aspect Comes into Play

You got to have quality if you want to charge higher prices

[pstokely]

42. The 1% will not shop at Sears, they never have

It was a good store when there was a healthy middle class

[joshcryer]

66. There's no fundamental difference between the two, to be frank.

[Hart2008]

4. As Obama says, remember, prosperity is just around the corner!

Or was that Herbert Hoover?

Hard to tell the difference except for the rhetoric.

[Orrex]

7. You're right--Obama's to blame for a company that's been circling the drain for more than 20 years

He should have stepped up and rewritten their corporate policies decades ago.

[JI7]

49. if Gary Hart was President this would never have happened

[Orrex]

54. So Donna Rice is to blame for KMart going into the toilet?

It all makes sense now...

[Orrex]

5. This is sad news, but not surprising

I've never been in a KMart that didn't seem to go out of its way to create an unpleasant and inconvenient shopping experience. I've lamented this several times on DU2, and it's as true today as it was then.

Whatever their business model might have been, it sure as hell wasn't "make the customer feel welcome and valued."


The closing of these stores is sad news for the workers and for the customers who shopped there in spite of the company's best efforts to drive them away.

[Bossy Monkey]

13. Sure you're welcome! You're so welcome they never want you to leave!

That's why it takes a half hour to check out when there are only two or three other customers in the store. (In other words, I agree completely. I try to shop at KMart, but just don't have the patience.)

[alphafemale]

57. I've noticed that too for at least 20 years or more

It's one of my last choices of a place to go into for that very reason...among others.

And it's not that has happened in one or two poorly managed stores. It seems to be a company wide thing.

[Bossy Monkey]

73. Problem definitely predates Sears Holding, or even Walmart, by decades.

Last edited Wed Dec 28, 2011, 05:58 PM - Edit history (1)

I think Kmart incompetence created Walmart more than any other factor. Not that it's pleasant shopping at Walmart either, but that's more a function of how mobbed they are. At Kmart, 3 is a mob.

Edit: Then of course I went to Walmart where they tried to out-Kmart Kmart.
Yeah, I know; not a very important addition. I'm just digging being able to edit forever.

[phylny]

8. We live in a very rural area, yet a Sears Hometown store just opened in our town.

They have mostly appliances and tools, but you can order anything from a regular Sears store online through the Hometown store, and it'll be delivered free.

I'm hoping to buy a water softener from them in a few months. We don't need a TV, but hopefully they'll be around long enough for when we want a new one. We like to support our local merchants (big and small) as much as possible.

[madrchsod]

9. here in illinois we just bailed out sears with some tax breaks

a lot of people thought this was going to happen but sears threaten to move to another state.

tax breaks for sears and no promised pay raises for afscme union workers.

[OverDone]

14. Funny

Its great how we have to use tax breaks and stimulus to get stuff done.

[HopeHoops]

15. I really hope we don't lose either of our K-Marts. They're great stores.

I won't shop at WalMart and after the GOP support Target provided, I don't go there anymore. Ames died years ago. Zayre's is gone. I think one of the smart thing that Sears is doing is stocking K-Mart with appliances, full-size pool tables and other large items that I used to go to Sears (or the late Montgomery Ward) for. I haven't needed a major appliance in a long time, but it is just a good business move. Sears used to carry pool tables and bikes. They don't anymore. It's mostly a clothing/tool/garden/appliance store now.

[tabatha]

20. This winter I spent a bit of money on home touch-up that I

had not attended to for over two years.

Not only were there many items on sale, but having a Kmart card earned $25, in addition to which I earned five $5 cards on some sales items, which I used to purchase a kettle that eventually cost $1.93 because of the $5 earned cards.

I was amazed at how much I got for how little this season; and it was not junk.

I hope they do not close the KMart in out area. Otherwise, for sure they will be replaced by Target.

We do not have either Target or WalMart in out area - but 30 miles either side there are those shops.

[HopeHoops]

24. It's one of the only stores left that still tries to stock US Made products.

Target is too fucking expensive. You can get the same thing at K-Mart for far less. WalMart recently had a HUGE ad for $5 movies. I have lost count of how many $5 movies I've gotten at K-Mart (normal price, some are $1) and a lot of them have multiple movies for the same price - we have one with six vintage films on it, $5. Cheech & Chong's Next Movie and Born in East L.A. in the same case for $5. Oh yeah - I forgot - WalMart is cheapest I only look at the WalMart circulars to laugh at them because they are advertising prices at are no better (or usually more expensive) than K-Mart and other stores I shop at.

[qb]

17. As a department store, Sears is outdated. They should figure out a way to keep Kenmore & Craftsman

& dump the rest.

[OverDone]

19. Didn't they

Just start to open up the craftsman brand? That means other companies can sell it, and other companies are producing products under the craftsman name? I'm not 100% sure on that, but believe i remember reading something.

[MedicalAdmin]

38. IF that happens and they dump the warrantee then they are done.

Or at least their tools are. I won't buy them without that. And no one else who uses tools for a living will either.

[frazzled]

48. You're right: they have just failed to keep up with the times

It's not like they don't have some decent products, like appliances and tools. But they have lots of competition in that area, and they're not providing anything that would make you go there rather than somewhere else for these products. The shopping experience is pretty dismal.

I remember being a kid in the 1950s, and we would go to the big Sears downtown every once in a while, and you'd get these great hot nuts, and candy, which kept us kids happy. We used to love it. I sort of feel like it never got out of the 1950s (honestly, the stores look the same, and the displays are nonexistent)--but it dropped the best thing about that era, the candy and nuts.

The whole idea of a full-service department store (with clothing and housewares and linens and tools and notions) is pretty much dead. Macy's is the only one left (and even they have dropped many departments): I almost never go there anymore either. It sucks. I long for the days of the old Marshall Fields and tea rooms and even the "old" Sears. It's over, like so many things of the past. You can't mourn it. Things die out. But I don't like the new breed of stores either, and I think that Internet retailing is going to kill most every bricks-and-mortar store in the country, save for some boutiquey places. What will fill our streets then?

[vanlassie]

26. This Christmas I made two purchases at Sears- my sister made one...all three were trainwrecks

Sister and her husband purchased a large item. Drove to the pick-up area to get it, pulled in to a space, read a sign that said- "Don't get out of your car- call this number on your phone and we will bring it out." They call. No answer- rings and rings. Sister gets out of car leaving hubby with the phone, still ringing. Goes in to Pick-Up. No one there. Hears sounds in a back room- says "Hello!" No answer. She walks back there- several employees standing talking with a PHONE RINGING across the room. They act like she is an intruder. "Can we HELP you??" Needless to say she suggested that they might want to answer the damn phone.

I ordered something by internet. Didn't get a confirmation- item didn't come... had to make two calls...blah blah blah.

Finally, I purchased an extra large ironing board (for myself!) which was normally fifty bucks. Five bucks off- I grabbed it and lugged it to the cash register. I will spare you the details which involved VERY POOR service. The final bit of poor service was that the girl rang it up for $14.95. This year, at least, I think I was compensated by Sears for my aggravation. Next year, I will not take a chance, if they are even still standing. The key to success is service- at least not treating customers like crap, anyway.

[mainer]

43. So the problem was service, not product?

That's what drives me out of some stores -- and keeps me coming back to others.

Service.

You'd think, in this era when jobs are so precious, that workers would do their best to make customers happy. But I've run into so many lackluster people in retail that you can almost see why some jobs are getting shipped out of the country.

[bigworld]

79. Sears' internet division is a mess

It is such a chore to order anything from there. Searching is impossible, and their offerings from third-party vendors makes it confusing and scammy.

And Sears has adopted the dual KMart strategy of being out of stock on too many items, and having unstocked boxes crapping up the aisles.

[LiberalAndProud]

28. So the spiral continues.

Too bad Sears doesn't have the vision to lead the charge in a "Buy USA" campaign. They have the All American name, they could encourage All American, quality manufacturing. I think it could well be a winning strategy.

Instead, they have followed the Walmart leader, and sullied their reputation in the process.

Sad.

[Norrin Radd]

70. Exactly. Greed will be their undoing.

[blue_onyx]

75. Nonsense

If greed was the problem, Walmart would've gone under years ago.

[Norrin Radd]

77. Nonsense

I'm discussing Sears specifically. Not Walmart. Altruism and largesse aren't responsible for Sears's faltering for so long now.

[blue_onyx]

82. Nonsense

What makes Sears any more "greedy" that other companies? The goal of a company is to make money. Therefore, all companies are "greedy." The idea that Sears' problem is that they are too greedy is ridiculous.

[bigworld]

80. That's an excellent idea.

Just the publicity would differentiate them.

[SoapBox]

31. I saw this article on Yahoo and the VERY common theme of comments was, you can't get checked out.

People just wanted to shop...and then give up their monies. BUT, consistent commentary that Kmart
would only have a couple of registers open and that Sears was a total pain, because the check out
is not located at the exits (that stupid thing where the registers are each department).

Bad, bad, bad management decisions...one after the other. Simply amazing.

[OverDone]

32. Very good point

Most of the registers are not at the exits, and then you got to go through the entire store to find a register that someone is working at. This is at Sears of Course, Kmart well its Kmart

[hlthe2b]

34. My late father would have attributed this to Sear's unceremonious "dumping" of Roebuck...

from the branding. Bad karma, ya know.

[vanlassie]

40. They have these four sided registers, and signage does not guide you to the one place to line up.

I was on the opposite side, holding a giant ironing board, but I was apparently invisible to three different clerks, and then someone stepped up to the que (on the other side) and got waited on. I was snippily informed that "I was not standing in the correct place."

[blue_onyx]

46. Really?

All the stores near me all have signs that says "Line Starts Here."

[OverDone]

59. That line starts here thing, is annoying too.

I never seen them work efficiently. What are we too dumb now to know how to correctly stand in line.

[boppers]

68. That's *why* there's a sign.

"What are we too dumb now to know how to correctly stand in line."

Yes. Even when there's a sign instructing us to do so.

Sad, innit?

[OverDone]

76. Wow, ok I guess your right

I have seen several people like standing side by side, some outside the rope areas.

Ok I guess Sears knows what is best for us hahahah

[laundry_queen]

50. That's my biggest pet peeve when shopping at Sears nt

[AngryOldDem]

78. Poor service is common at all stores.

And it's the reason why I rarely shop at department stores. I shouldn't have to wander around an entire store like it's a desert, looking for SOME salesperson SOMEwhere to take my cash. How many people just give up and leave? And then stores complain about poor business, and poor business return.

But then, the opposite is always true. When you just want to browse salespeople are on you like stink on shit.

Must be some kind of universal law, or something.

[craigmatic]

33. Sears and Kmart don't really do sales. Their idea of a sale is selling things at normal prices.

This is especially true of electronics. Just look at sears prices on TVs compared to best buy, walmart and the rest.

[Puzzledtraveller]

35. Radio Shack is the same

but because they specialize and have smaller units they can still bring in business but as for consumer electronics, they are the only place you'll see an AM radio for $50.

[donco]

37. I got a sears gift card

for Christmas better spend it fast.

[OverDone]

44. Good Luck

on finding something to buy. Not too much on Sale theses days

[snagglepuss]

61. Me too. Perhaps its worth holding onto. If a store near you

is closing there would most likely be a closing sale.

[donco]

84. If the puke came into a bar I hang at

he would have had a couple chicken wings hanging out of his ears.

[CarmanK]

39. Sorry to hear this. I like Kmart. and SEARS is such a reputable company. Why is it?

[Honeycombe8]

52. I went to Sears Christmas shopping this year. It was empty, but other stores were packed.

This was like last year, too. Not many people shop at Sears. I wondered - seriously - when I went and saw how empty the store was, how Sears managed to stay open. I figured it must be their appliance sales.

The reason I don't shop much at Sears is...other stores have bigger selection. Sears' prices are competitive, but smaller selection. For instance, I was looking for boomboxes for a gift. I ended up buying one at Sears, BUT in doing pre-shopping online, and in stores, I saw that WalMart and Best Buy were closer to me, easier to park at (they're not in malls, but my local Sears is), and WM & Best Buy had a slightly better selection OR slightly more choices. Same thing with children's coats. WalMart had MUCH better children's coats to buy. Sears were higher quality but they weren't "cool" and were twice the price of WalMart's. Altho the coats at Sears were on sale half price, I still went for the WM one because it was more flexible in its use, with a zipout liner, and was cooler, while the Sears was a little fancy for school wear.

I hope Sears doesn't go out of business, though. It's practically an American institution.

[Jester Messiah]

53. What of it?

I don't support bail-outs for companies large or small. If they can't compete, they can make room for those that can.

[Auggie]

56. Sounds like management is letting it fail, and that's too bad ...

if only to provide WalMart with badly needed compeition.

[reACTIONary]

58. Just went by Sears to buy a battery...

...had a VERY unpleasant experience and went to the auto parts store next door and bought it there.

[OverDone]

62. Its tough, You got to be the best

Quality, and Customer Service has slipped alot and that doesn't work. The one thing they have gotten better on is the order online and pick up in store. But without quality products and decent prices, its tough

[eilen]

63. We purchased our Christmas tree at Sears this year

It was the first week of December. The store was pretty busy, there were a lot of customers. The man who checked us out was new and very slow at the process. However, he was friendly and apologetic about it. There was a more experienced cashier next to him who helped him out a bit. He was busy signing a lady up for a Sears charge.

My husband likes their tools. We have purchased many appliances there-- our washer, dryer, refrigerator and dishwasher. I have purchased sewing machine accessories and a vacume cleaner. I have purchased some Land's End clothing but in general find little I care for in their clothing dept. I used to buy my son's clothes there when he was little. We did some school clothing shopping there this past Fall. I hope they don't close our store.

I also like Kmart. Generally, the worst wait is at Christmas season to get checked out. I really do like our Kmart, I hope they don't close either.

I think Kmart purchased Sears.

[Doremus]

65. It should be illegal to let overpaid suits destroy an iconic American brand that employs thousands

The fvcking suits couldn't give two shits because they've got their big bonuses and stock options whether they drive the company into oblivion or not. Meanwhile the rank and file will get thrown out with few prospects and little hope of finding another job.

I HATE plutocrats and the corporatocracy and what they're doing to us.

[center rising]

67. I used to work at Sears, lousy store, lousy business!!

[boppers]

69. Job hating, middle class destroying, box box stores, are failing?

Let me get my hankie.

[E-Z-B]

71. The CEO and his executives should be held accountable.

Oh wait. Accountability always stops with the middle class workers.

[TK421]

72. Not surprising at all..in fact, long overdue ( not that I wish it )

I worked there for seven years back in the 90's and even then, during my last two years the place was really going down the tubes. I worked mainly in the mens denim department and also mens suits, and back then we were SUPPOSED to approach people to help them ( I still remember how to do suit measurements to this day..weird ). Try walking in to one now, and you'll have a difficult time finding someone to ring up your purchase; the place is a graveyard.

Frankly, I'm surprised it took this long for this to happen

[snagglepuss]

74. It'd be interesting to know how much top management makes now

compared to what top management made in the 50s, 60s and 70s.

[JCMach1]

81. Seems like in these times, their old, thrifty business model would work...

Small amount of store credit (credit card) for ALMOST anyone and push high quality product that will last...

Sell that and sell it as all-American and see the turn-around.

[OverDone]

83. Here is the Closing List

Only 79 Listed so far

http://money.cnn.com/2011/12/29/news/companies/sears_stores_closing/index.htm?iid=HP_LN

[Devil_Fish]

85. There is a sears store near me that has a "Final Closing" Sale once or twice a year. NT

[Islandlife]

86. Sears services what they sell. It's price vs. value

I bought a lawn mower from a lowes. It broke within a year and i was on my own with the warranty, i.e. i would have to ship it at my expense from hawaii to a service center on the continent. It was cheap so I thought I'd just replace it.

By chance, I walked into Sears on my way to Lowes. The mower I looked at was more expensive. When I asked what to do about repairs the salesman said "bring it here". I was sold.

Service on other sears appliances have been stellar. Not many stores like that anymore. Many electronics are disposable, but most mechanical repairs can be done ecconomically.