http://www.usatoday.com/story/money...ubstantial-doubt-can-stay-business/99479726/#
Looks like deals will be had soon everywhere
Looks like deals will be had soon everywhere
Sears.com hot deals and clearance thread
- Thread starter Spn1025
- Start date
a52-830
Well-known member
i tried to read that USA today article, but it wanted me to subscribe. google provided a URL that let me see it, but it played a video ad at the top.
here is the text:
The company that operates Sears, the department store chain that dominated retail for decades, warned Tuesday that it faces "substantial doubt" about its ability to stay in business unless it can borrow more and tap cash from more of its assets.
"Our historical operating results indicate substantial doubt exists related to the company's ability to continue as a going concern," Sears Holdings said in a filing with the Securities and Exchange Commission. Sears Holdings operates both Sears and Kmart stores.
While it said it is working to find ways to mitigate that doubt, it said that it can't be sure that it will be able to raise the cash to keep going.
here is the text:
The company that operates Sears, the department store chain that dominated retail for decades, warned Tuesday that it faces "substantial doubt" about its ability to stay in business unless it can borrow more and tap cash from more of its assets.
"Our historical operating results indicate substantial doubt exists related to the company's ability to continue as a going concern," Sears Holdings said in a filing with the Securities and Exchange Commission. Sears Holdings operates both Sears and Kmart stores.
While it said it is working to find ways to mitigate that doubt, it said that it can't be sure that it will be able to raise the cash to keep going.
EOC_Jason
Well-known member
More of the article:
In January, Sears said it planned to close 150 stores. In the following month, the retailer initiated a restructuring program aimed at cutting $1 billion in costs annually and reducing debt by $1.5 billion helped by proceeds from the sale of one of its most valuable brands, Craftsman tools to Stanley Black & Decker.
"We acknowledge that we continue to face a challenging competitive environment," Sears said in the filling. But it's bleeding cash: After its 2016 loss, it had to finance its cash needs for operating expenses from "investing and financing activities."
Sears, which at the end of its fiscal year had about 140,000 employees, said that it expects to continue to try to generate cash from real estate sales and borrowing. The company said it is also exploring ways to "unlock value" through its Home Services and Sears Auto Center, Kenmore appliances and DieHard batteries and parts business by partnering with other companies, or other means. It says it hopes those actions are enough to ward off the "substantial doubt" that it warned about in the filing.
Sears said that if it continues to experience operating losses and is unable to generate additional liquidity it may not be able to access additional funds under its credit agreement or be able to afford to pay for inventory to stock its stores or pay for other services it needs to operate.
In January, Sears said it planned to close 150 stores. In the following month, the retailer initiated a restructuring program aimed at cutting $1 billion in costs annually and reducing debt by $1.5 billion helped by proceeds from the sale of one of its most valuable brands, Craftsman tools to Stanley Black & Decker.
"We acknowledge that we continue to face a challenging competitive environment," Sears said in the filling. But it's bleeding cash: After its 2016 loss, it had to finance its cash needs for operating expenses from "investing and financing activities."
Sears, which at the end of its fiscal year had about 140,000 employees, said that it expects to continue to try to generate cash from real estate sales and borrowing. The company said it is also exploring ways to "unlock value" through its Home Services and Sears Auto Center, Kenmore appliances and DieHard batteries and parts business by partnering with other companies, or other means. It says it hopes those actions are enough to ward off the "substantial doubt" that it warned about in the filing.
Sears said that if it continues to experience operating losses and is unable to generate additional liquidity it may not be able to access additional funds under its credit agreement or be able to afford to pay for inventory to stock its stores or pay for other services it needs to operate.
AffableCurmudgeon
Well-known member
Sorry to say but after there latest filing with SEC, a giant Liquidation Sale coming up.
The coupons and SYW point are about to expire.
The coupons and SYW point are about to expire.
Maybe if you're looking for shelving, but I hope you're not one of those suckers that start filling up a cart when they see a liquidation sign.
They've sold a lot of real estate to keep surviving, but they still have more available to sell off.
Plus, if someone was willing to buy the Craftsman brand, then there are probably others willing to buy the Kenmore and DieHard brands.
They started that a while back, but it seemed to only appear if the email address didn't look like an email address. Later, they switched to those Google captcha photos, and login problems seemed to have skyrocketed. Now, we're back to numbers, but the login mess has not been resolved.
If you've never tried the trial period:
http://www.shopyourway.com/max/shop-your-way-max
Back to our regularly scheduled program:
Craftsman 4pc Wobble Extension Bar Set 3/8 Inch Drive $7.99
Craftsman 4pc Wobble Extension Bar Set 3/8 Inch Drive $7.99
The reality is "fast Eddie" has been liquidating all that real estate for a couple years now, doing a "Wallstreet" Gordon Gecko (Michael Douglas's character in the movie) maneuver in plain sight. A cockroach, chopping up one of the oldest companies in America, to make himself a bigger billionaire. Yay.
There was never any intention of surviving, just hanging around and keeping appearances up till it had been bled dry.
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EOC_Jason
Well-known member
Good price, usually it's $9.99 on sale.
What's funny is that there was a lot of celebrating when he took control of Kmart, and then Sears. He was supposed to be a successful billionaire that would make those companies great again.
Back to our regularly scheduled program:
Craftsman 4pc Wobble Extension Bar Set 3/8 Inch Drive $7.99
Still 20$ on amazon.
Super Sport
Well-known member
A couple months ago it was $9.99 with 50% back in points, so I picked up a set then for my junkyard box. Otherwise this is the cheapest I've ever seen it.
This is a good deal. I already own a set or else I'd jump on this.
What's funny is that there was a lot of celebrating when he took control of Kmart, and then Sears. He was supposed to be a successful billionaire that would make those companies great again.
Yeah, seems like they would have been better off hiring someone that had never worked in private industry before instead. That would have given us some HOPE for CHANGE.
Let me be the devil's advocate here, and say kudos for him - noone else see this opportunity to make one self richer this way - if you know how to, why didn't you jump on it
(I am not trying to get into debate who is right vs wrong, ethics etc).And sadly, yes, all of these deals are going to disappears when Sears close, so take advantage while you can
Back to the deal discussion. You can get the store shelvings cheaply when there is a store closing down - does not have to be Sears. A few years ago I bought 8 ft metal shelvings - 18 sections with 4-5 shelves for each section, all for $100. The price kinda depends on how desperate they want to clear the area for the next tenant. I was just at the right place at the right time.
Super Sport
Well-known member
Let me be the devil's advocate here, and say kudos for him - noone else see this opportunity to make one self richer this way - if you know how to, why didn't you jump on it
Tough to say, but Eddie was running a pretty successful hedge fund prior to this Kmart/Sears fiasco he entered himself into. Had he never bought them he very well could be further ahead today with what would likely amount to less work and stress.
I'd say the lack of retail experience made Eddie an outsider, and he was all about "transformation".
FYI. Up to $3 for Shop Your Way member - it is free to join. You can use it at Sears or Kmart. Both my wife and I got $3.
https://slickdeals.net/f/9890684-sy...ign=tu-9999&src=da_si_v2_14328650#commentsBox
It is not really a hot deal or clearance, but thought someone may want to know. Hope this is ok.
https://slickdeals.net/f/9890684-sy...ign=tu-9999&src=da_si_v2_14328650#commentsBox
It is not really a hot deal or clearance, but thought someone may want to know. Hope this is ok.
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woodturner9
Well-known member
Don't get too worked up about that, it's "accounting code" and a required filing. This only made the news because people like to think Sears is going to fail. That language is in many reports from many companies, it just rarely makes the news.
Sears may eventually fail, that is a possibility for any company, but it's not likely to be anytime soon. It would not surprise me if they file for reorganization in a couple years, but based on a careful review of their filings, business model, and investor conference calls, I don't expect them to go out of business.
On the most part I agree. But Lampert has really failed with capital investments to bring stores up to a level of "at least tolerable" in regards to decor. Cripes, it feels like walking into a funeral home at my Sears which anchors a mall in my town of 300K. Sad thing is I knew the guy that managed the hardware/tools section and was proud his store ranked near the top in sales across the nation. He started at Sears when he was 18 and retired around five years ago.
Now the department is a shell of its former self.
Granted, story is anecdotal. But there is a great trend in accelerating the standard B&M model into oblivion across the sector. And out of most retailers, Sears is least equipped to deal with it.
Sort of chuckled writing that, I have around $30 bucks in points to use and their **** website won't process my login.
Has anyone followed this Craftsman Creeper Seat for sales pricing? I'm wondering how cheap it can get.
Looks like it is made by Whiteside (USA)
Looks like it is made by Whiteside (USA)
2manytools
Well-known member
Login on Shopyourwayrewards, then hop back over to Sears site where you should then be logged in.
Can't sign in to sears website again. I put in my login info and it just freezes. Tried on IE and Opera. I don't even know why I bother. They still can't get a decent website and its plagued with issues from login/account management to browsing for products and search results. Not to mention the layout *****. I wonder how many others are having these issues. The in-store experience isn't much better either. According to Wikipedia (for what its worth) 695 stores are left in the US as of Q4 2016 and another 42 are slated to close in this coming quarter. The craftsman name/warranty won't be worth much in the coming years I suspect...
I know that was a bit OT but after not being able to even log into their site (not the first time this has happened) I just went on a little rant
I know that was a bit OT but after not being able to even log into their site (not the first time this has happened) I just went on a little rant
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Has anyone followed this Craftsman Creeper Seat for sales pricing? I'm wondering how cheap it can get.
Looks like it is made by Whiteside (USA)
Since they say the regular price is $100 I bet it drops at times to less than $50. I definitely would not buy it now at $92
Alchymist
Well-known member
Sometimes this works, sometimes it doesn't.
Can't sign in to sears website again. I put in my login info and it just freezes. Tried on IE and Opera. I don't even know why I bother. They still can't get a decent website and its plagued with issues from login/account management to browsing for products and search results. Not to mention the layout *****. I wonder how many others are having these issues. The in-store experience isn't much better either. According to Wikipedia (for what its worth) 695 stores are left in the US as of Q4 2016 and another 42 are slated to close in this coming quarter. The craftsman name/warranty won't be worth much in the coming years I suspect...
I know that was a bit OT but after not being able to even log into their site (not the first time this has happened) I just went on a little rant
Happens to me two times out of three. (Or more). Depending on which page you are trying to log in from you may get a captcha or not. More irritating is the points offer in an email that doesn't show up when you manage to log in. Yet if you leave an item in your cart and log out, you get plenty of emails reminding you of it.
I would love to think that it will drop to less than $50, but I am skeptical since it is made in USA and thus would have a higher cost price for Sears. The Whiteside branded creeper seat rarely goes below $100.
I got the email yesterday saying they were in, but I won't be able to get over to the store and pick them up unto Monday.
Super Sport
Well-known member
I would agree with you, it's doubtful to drop that far. Sears is notorious for dropping their most popular items to 50% off, but odd things like this that are online-only don't typically drop that far.
Your best bet would be to use some surprise points or coupons and you could likely bring it down in the $60-70 range.
That is kind of what I was thinking, but hoping someone had previously watched this creeper seat and could confirm.
Sears also sells the Whiteside branded version (for a bit more money). Surprisingly, Sears seems to often have the lowest price on private-branded made in USA items.
For example, I recently bought this Made-in-USA Lisle Creeper priced at $70 - which is already cheaper than Amazon - but after coupons and points it was quite a bit cheaper than elsewhere.
Purchased two black CM versions a few years ago between $60-70 after points/codes. Good solid mobile garage mechanics seat. Did not want any extra moving parts so its solid, strong and easy to keep clean. Good choice for burning up any remaining SYWR points.
Purchased two black CM versions a few years ago between $60-70 after points/codes. Good solid mobile garage mechanics seat. Did not want any extra moving parts so its solid, strong and easy to keep clean. Good choice for burning up any remaining SYWR points.
Nice, thanks for the confirmation and review. How do you find the height of this seat? There is also an adjustable version available, but I'd rather keep it simple/unbreakable if the height is good.
It looks like the Black Craftsman Version is no longer being made, because it is limited to in-store availability. I'm hoping the newer red version is the same except for the color.
2manytools
Well-known member
If anyone is stuck with the C3 line, here is a decent deal on the Craftsman C3 Lithium-Ion 1/2" Impact Wrench and Angle Grinder Kit for $150 + $75 in (monopoly) points. normally $200
GasEngineer
Well-known member
Looks like a few other tools are offering 50% points back as well.
http://www.sears.com/craftsman-c3-1...SellerId=Sears&prdNo=5&blockNo=5&blockType=G5
http://www.sears.com/craftsman-c3-1...SellerId=Sears&prdNo=1&blockNo=1&blockType=G1
http://www.sears.com/craftsman-c3-1...lerId=Sears&prdNo=18&blockNo=18&blockType=G18
CAMMShaft
Well-known member
I don't think being made in USA matters to Sears when they price stuff these days. Look at the pricing on the prybars and other USA items. They take off more than 70% at times.
I saw that blue Lisle creeper on sale about 2 months ago for $52 on Sears' site. You never know what Sears will do.