Sears Could Be Gone If Slump Lasts Through Christmas

[rob1200]

You guys keep saying stuff like this that makes me think you're operating under the assumption that Sears is trying to stay in business.

Lampert bought it to break it up. He's been selling bits and pieces at a time and he's made a killing from it. Sears is losing a billion dollars per year, but Lampert's personal net worth has tripled in the time since he bought the controlling interest.

It's just a legal form of robbery. The guy who owns a quarter of the company is stealing from the thousands of people who combine to own the other three quarters of it.

This is the endgame he's been working toward. He didn't buy Sears to make money selling clothes and tools; he bought it to make money selling real estate.

This is exactly correct.

Mr. Lampert is dismantling the company in an orderly manner, for his own financial benefit. There have been no mis-steps, no poor decisions... this was all intentional and brilliantly executed, in an evil-genius kind of way.

Makes me very sad that Sears as our grandparents knew it is gone.

 

[chicane]

I am guessing the opposite will happen.

You would guess wrong.

 

[chicane]

Sears very easily could have been what Amazon is now, but I guess when something is working(as it was for Sears in the early part of this century when online competitors started gaining traction) there is little incentive to change.

Amazon hasn't made a dime of profit since they have been open (it's all smoke and mirrors), so I guess they are where Amazon is now.

 

[purplezr2]

You would guess wrong.

With out sears in every state the appeal of craftsman is gone. How does one easily warranty tools.

 

[Parrothead]

You guys keep saying stuff like this that makes me think you're operating under the assumption that Sears is trying to stay in business.

Lampert bought it to break it up. He's been selling bits and pieces at a time and he's made a killing from it. Sears is losing a billion dollars per year, but Lampert's personal net worth has tripled in the time since he bought the controlling interest.

It's just a legal form of robbery. The guy who owns a quarter of the company is stealing from the thousands of people who combine to own the other three quarters of it.

This is the endgame he's been working toward. He didn't buy Sears to make money selling clothes and tools; he bought it to make money selling real estate.

FINALLY, somebody who gets it. You don't have to like it (I don't), but turning this around was never the end game. He's going to make a very tidy profit all the while acting like he tried to revive the business. He'll need those investors he bilked later, so he wants to appear like he tried something. The writings on the wall...

 

[Parrothead]

Amazon hasn't made a dime of profit since they have been open (it's all smoke and mirrors), so I guess they are where Amazon is now.

Might want to look into that further. Amazon can turn a profit at any time they want. They're just reinvesting it into the company in a global ********** kind of way.

 

[garthg]

With out sears in every state the appeal of craftsman is gone. How does one easily warranty tools.

I always bought tools on the theory that good quality tools didn't break.

I only warrantied a Craftsman item one time, when the handle of a pair of self-locking pliers cracked in two. The clerk gave me a set of Petersen USA Vice-Grips to replace them when they didn't have the originals.

The ratchets and sockets, with home and hobby use, last virtually forever.

 

[Aura]

I was in Sears yesterday and the tool section is slowly being gutted. They are tearing down the building around the store but there are now hiring signs all over the place.

 

[kiatech]

They moved The tool section to the other side of the store at the one near me. It lost a few.isle's in the process. The end is nearing.

 

[Garage Junky]

Just heard this morning that the Sears closest to me (Waterford, MI) will be closing before the end of the year. Clearance sales starting end of the month!

2 of the 3 K-Mart's closest to me have already closed and I wouldn't be surprised to see the third kick the bucket soon too.

 

[wmartin]

Amazon hasn't made a dime of profit since they have been open (it's all smoke and mirrors), so I guess they are where Amazon is now.

You might want to take a look at their 2013 income statement. Admittedly, 'income' and 'profit' are slippery notions with large companies.

As far as Sears is concerned, I figure that there's a lifespan to any organization or government. They had a good run, but never survived the death of mailorder and the ongoing downtrend in medium box retail.

 

[wmartin]

They moved The tool section to the other side of the store at the one near me. It lost a few.isle's in the process. The end is nearing.

Maybe that's why then went to China-sourced tools and absolutely horrendous toolboxes. When the big discounts hit, they'll be selling only dreck.

 

[chicane]

Might want to look into that further. Amazon can turn a profit at any time they want. They're just reinvesting it into the company in a global ********** kind of way.

You might want to take a look at their 2013 income statement. Admittedly, 'income' and 'profit' are slippery notions with large companies.

I have, maybe you guys should take your own advice:

http://www.ibtimes.com/amazon-nearl...t-make-money-investors-dont-seem-care-1513368

 

[chicane]

I am not pulling for them.

Shocker. As a known Sears/CM hater on this board your input on this matter is irrelevant....

 

[wvrailroader]

I for one will be sad to see Sears go. I have had several relatives who worked there - my aunt actually retired from Sears about 20 years ago. She was quite proud of her job and it showed. The two guys who work in my local Sears tool department have the same kind of pride. They have worked there for many years and are very knowledgeable. The tool department is always neat and tidy and they are always right there waiting to help someone. It is the way that Sears used to be.

My aunt always talked about how well Sears treated their employees. I am sure she is spinning in her grave now. I feel that had the right person been put in charge of Sears, they would likely not be in the shape they are today. Instead, Lampert is feathering his nest at the expense of the employees and the other shareholders. I know there are those on this forum that absolutely despise Sears, but just remember that when Sears folds, many good people will lose their jobs. I know that there are some duds in every store, but in my experience, a lot of the employees do try to do a good job given what they have to work with.

I find it hard to believe that no matter how bad you hate a company, you show no sympathy to the misfortune of the employees who will go down with it. The fact Sears is circling the drain is definitely not the fault of the lower level employees who work there. However, they are the ones who will suffer - not Lampert, who will leave behind the ruins of a once great company carrying off more money than he could spend in a lifetime.

 

[getbent4x4]

other than tools and automotive I'm not sure what else sears sells that is worthwhile..

 

[jd_1138]

I had a lousy experience with Sears today. My mom wanted to buy a dining room set off of the website for $950. I added it to the cart and checked out with her credit card. I pushed the "place order" button and nothing. Went back to the same screen with the "place order" button and nothing was indicated that I had left out some data or left an incomplete field or whatever. So I had to push the "chat with a sales rep" button to talk to someone. Then it took another 15 minutes with them to process the order.

Their website is clunky and doesn't work well. And that Shop Your Way points program is disorganized. I never can log into it to see what points I have. Also, their cash registers are like from 1978.

 

[franzdom]

Shocker. As a known Sears/CM hater on this board your input on this matter is irrelevant....

That is downright mean. My opinion is not worthless, regardless of your opinion.

It makes me sad that Sears and Craftsman hit the skids, but I feel that it started a very long time ago.

 

[dale500]

I started my tool collection when the local Sears down the street from where I worked had it's going out of business sale. That was back in 1988. I was able to pick up some great deals including my first stack of craftsman boxes. They had a giant bin of mixed sockets that were a $1 each. That was about the end of the good times for Sears. With each new group of leaders they move closer to their end.

That said there are still bargains galore if you do some looking. And not just the new import line but plenty of good old made in the USA stuff. This week I scored a set of the US made Craftsman Professional pry bars marked down down from $50 to $23. I grabbed a 19mm Gearwrench combo wrench for $10. Over the last 3-4 years I have been regularly picking up sets of US made wrenches, sockets, boxes, and more at 50-75% off. Mostly 75% off through the local outlet store. Those 75% off Craftsman Industrial deals were insane. I'll probably never use them all but they are at my finger tips if I need them.

It will be sad to see them go but I know that they did themselves in. Fortunately I was able to build a huge tool set cheap from their miss steps along the way. I say quit fretting over their demise and keep taking advantage of their stupidity.

 

[66354dream]

I also had a feeling this would happen, especially considering the absolute **** their tools have become it's sad to see them go but it seems like they simply stopped caring a long time ago.

 

[GuyllFyre]

Some of us still mourn for the original Montogmery Ward.
Until it got half melted in 2013 in the garage fire, I had a old Mongomery Ward Sea King Jon Boat.
In my garage is a 1978 Mongomery Ward compressor.

Used to be, between Sears and Montgomery Ward, you could order a whole house and all of it's accoutrements, including some modes of transportation.

These catalogs used to be the size of an Albany, NY phone book (about 3" thick).

Sad to see but I don't think Sears can keep up any more. KMart is all but dead, Ames and Jamesway are long gone, WoolWorths died a sad death, Caldor is gone, WoodWorker's Warehouse is gone, Lechmere is gone, Circuit City is gone, Radio Shack is all but gone, a staggering zombie at this point.

We collect as many gems as we can along the way and mourn the losses of once great companies who got lost in the short term profit making returns for the shareholders instead of the long term profits and stability of a good product and a good customer base.

 

[jcfields]

.

 

[wingnut_1]

Here is one closing at a very successful shopping area in a suburb of Milwaukee.

http://www.jsonline.com/business/se...at-end-of-the-year-b99354403z1-275629761.html

 

[beatcad]

You stopped shopping at Sears because they automatically closed an account you hadn't used in eight years?

i didnt say i stopped shopping there. i still go to the sears hardware store thats near me if i need something. i've probably spent 4 or 500 bucks just this year alone.
cash only.
i think i said it was petty, but i kinda pissed me off that they dropped me w/o any notice. it was a shock and kind of embarassing. my old auto ins co did a similar thing once, and i'm still pissed at them..oh, well. i need to let things go.
they wanted to sign me up for a new card, but it was a huge hassle and i said **** it.

its kinda sad to see them go down the tubes 'cause they were an american tradition.
and i'm nostalgic for junk like that.

in the old town of my neighborhood there is a railroad station and way back many build your own house kits were delivered by train. i didnt know that until about 15 years ago a pal of mine rented a house in old town and was told that it was a sears orderd house. it was damn cool.

and just for fun and to lighten the mood. this is my town and the exact train staion those house kits were delivered to.

 

[Schurkey]

There were rumors of the death of Sears thirty years ago...or more.

Sears used to have excellent homeowner- and apprentice-grade tools, (but they advertised 'em as professional-grade, for awhile they even invited comparison to Snap-On--which was delusional, but fun while it lasted.) Now they have mostly **** (some exceptions); and the Craftsman name isn't worth the time to type it.

The Craftsman warranty is similarly damaged; if the defective tool you have in your hand is still better than the new junk on the shelf--and the sales force won't order the proper repair parts--where's the satisfaction?

Sears has had incompetent management for decades; if it hadn't been so enormous by the '60's and into the '70's, Sears would have sunk without a ripple years ago.

Who misses the JCPenney auto centers, and the JCP hard-lines like tools and auto parts? Nobody. Most folks don't even remember that JPC spent a shipload of money trying to compete with Craftsman and the hard Sears lines in general. JCP can dry up and blow away, too. Like Sears, JPC is totally irrelevant to my lifestyle. JCP is simply leading the way for Sears: a guy-free shopping environment.

 

[chicane]

That is downright mean.

So is rooting for the failure of an American icon that will put thousands of American workers out of a job and millions more will be without a venerable retailer that helped meet their daily needs for over 120 years. But people like you only notice mean when it is directed to them....typical.

 

[2ndGearRubber]

So is rooting for the failure of an American icon that will put thousands of American workers out of a job and millions more will be without a venerable retailer that helped meet their daily needs for over 120 years. But people like you only notice mean when it is directed to them....typical.

ROFL

Do you know how much most people on the floor make?



I still like some craftsman tools, but I'm working mostly on internet shopping these days. A lot of it wasn't superb to begin with. Rose-colored glasses seem to be a requirement to really be a huge fan of the tools. However, I will say they were usually available, and reasonably priced. Personally, I think if they had dropped the "USA" image faster, and dropped tool prices while using high quality asian production (Taiwan Gear Wrench level), they'd have kept craftsman going longer, and with a bit more quality. Unpopular opinion, I know.


But, sears, not craftsman, is at fault. Not competing in a changing marketplace killed the once giant company. Ideally, they'd sell the craftsman name before it gets too bad, and gets anymore media attention. Selling the brand under bankruptcy means getting less for it.

 

[franzdom]

So is rooting for the failure of an American icon that will put thousands of American workers out of a job and millions more will be without a venerable retailer that helped meet their daily needs for over 120 years. But people like you only notice mean when it is directed to them....typical.

Thing is there are options. There are better places to work and better places to shop. Sears should be the focus of your vitriol, not me.

 

[PeterT]

Like most stores on the bubble, they will be open through Christmas, announce something in early Jan,, and be closed by Feb

 

[jcfields]

.

 

[Yankee]

I for one will hate to see it go. For years Sears was where you went to get the "good" hand tools. All the cheap junk was at the large hardware stores. (Menards,lowes,etc..)

As many of you have seen, Sears stores are ghost towns. So why would management allow one of the biggest and well known tool brands in America that you can ONLY get at Sears, to be sold at other stores? companies would
Kill to have sole rights to a line like that.

When they let Ace sell Craftsman, I knew Sears was done.

 

[340wedge]

Good riddance to Sears. I have had several bad experiences their, one was almost violent. I remember back in 1993 I had tires put on my car, mechanic did a burnout with the new tires. Recently the Gearwrench ratcheting wrench was made without the snap ring and it fell apart losing the little spring. They would not exchange it with one on the shelf. Then the drawer set I bought for my Craftsman workbench arrived dented to hell. I understand shipping damage happens but trying to get them replaced, I was lied to, ignored and had to go way up the chain to get that resolved. They aren't giving me anything cheap, their cabinets, workbenches, tool boxes and most tools are all over priced and not very well made. But I guess I am supposed to support Sears? Nope, go to a restaurant and get an overpriced bad meal and crappy service serveral times and I bet you would just keep going back there to eat. So why does Sears deserve a pass?

 

[Rickster]

All things change and Sears is going the way of the Crown Vic. Back in the 60's, 70"s and even the 80"s Sears was the place to go. Always filled with people and the big draw for may of the shopping malls around here. Now most people shop on-line where they can check the reviews and have it delivered to their door. Which, with Sears, amazes me as they were the the king of catalog ordering back in day. They seemed to have come to a fork in the road and chose the retail pathway and then when things started heading to the internet their answer was to go to off-shore products instead of going back to their roots. The bottom line for me is that I can't afford to pay US-Made prices for Harbor Freight tools.

 

[chicane]

ROFL

Do you know how much most people on the floor make?

Not every job associated with Sears is a minimum wage job bud. The appliance and electronics guys are on commission. There are managers, warehouse and delivery people. What about the manufacturers that make Sears products? You don't think there would be layoffs there if Sears went under? There are also thousands of back office people at their headquarters and other divisional offices, and what out the Auto center mechanics, do you think they make minimum wage? Get the facts and then get a clue.....

 

[cmcnei]

Was on the sears website yesterday and used the chat feature to ask if a tool set was made in usa, after confirming that it was I asked if I would be emailed a summary of our chat and the rep said yes since you selected that when you opened the chat. still waiting for the email.

Also, tried to reactivate a old sears credit card that was inactive and was told all the info was erased since it had not been used in years. Called and was told I could apply on line and use the card today. Tried to reapply on line to make a purchase and get a $15 discount on first purchase and at the end of the process was forced to call due to complications. Called to find out what the problem was and was told I would have to wait for the card to arrive or go into a store to apply. so I said, just forget that and used another credit card. I can do without a sears card.

 

[coljar]

If Sears goes **** up, how will K-mart be affected, since both are owned by the same company, and K-mart sells an even lower grade of products.

In the right hands, I think K-Mart could have survived, but it's probably too late. I hate going in there now. The stores are dumpy looking, they don't have what I need and what few employees there are, look so defeated.

 

[GSEninja]

So... if i were to get a Sears card now, and they flopped (I'm assuming bankruptcy) would I still owe the balance?... kidding of course

 

[-Brent-]

In the right hands, I think K-Mart could have survived, but it's probably too late. I hate going in there now. The stores are dumpy looking, they don't have what I need and what few employees there are, look so defeated.

I need to snap pics of KMart Vs WalMart the next time I drive in their vicinity. The juxtoposition is nuts. One store's lot is filled while the other looks to have employee's cars plus a dozen (I'm surely embellishing).

Walking into that Kmart is like going back in time. How that store is keeping the lights on, I don't know.

The WalMart, is well... just like any other. It's intriguing, there's another, bigger WalMart 5 or 6 miles away - it's even more packed.

Not trying to change the course of this thread, but, man, I'll be happy when WalMart's dynasty ends.

 

[purplezr2]

I have to say recent Sears purchase have been rough.

I live in a rural area so no local Sears. My parents however live about 30 miles from one, and Dad only works a few miles from their local Sears. I wanted to get a few hose on the discount that was posted up on GJ. Ordered them via the website. After a few days I had heard nothing. I looked on the site and it said ready for pickup. I had them resend the confirmation email. The email I got was that my order was still processing, even though it showed ready to pickup online. Seemed odd so I called the store, they could not help me at all. Wait another week, no email. Dad had to get lawnmower blades so he asked about my order. They magically had it. I still have not received an email saying my order was ready or picked up....

Fast forward to the garage door openers on sale. None available for shipping. What is the point of beating Amazons price if none of them ship...

Ordered a Die hard Platinum Charger and nail gun/stapler combo. Combo appears to be an open box item and the charger was damaged. Sigh

 

[kxlexus]

Found out my local Sears will close in December.
Liquidation sale starts September 26th. Very sad