Sears circling the drain

[Aaron_W]

I remember when I was a kid, walking through Sears or any other major department store was magical, especially at Christmas time. Unbelievably busy, bustling with customers, the store salespeople dressed to the nines. The display cases were cleanly polished, and the lines at the registers were a half hour wait sometimes! Just to check out, we’d patiently stand there. Often times my mother would make small talk with total strangers also standing in line. The lights, the music, the fragrances, such a strong memory of all that.

Just seems odd and a little sad the millennial generation and those that follow will only experience “add to cart” button while sitting on the couch at home.

Yep, that is something younger people will likely never experience. Not just at the holidays, but many of the buildings were designed to wow the customers.

The City of Paris Department Store in San Francisco had a large atrium in the center of the store that went up 3 or 4 stories capped with a large stained glass dome on the roof. As a kid I can remember watching people on the floors below while my mom shopped. At Christmas they would bring in a large Christmas tree that extended from the first floor to into the glass dome.

The Emporium had a similar design, at Christmas they would place carnival rides on the roof of the building. The Ferris Wheel was amazing as the cars would overhang the building adding the 3 or 4 additional stories of the building to your height above the ground.

These days even a fancy store is probably just a box. A few like Cabellas and Bass Pro at least have some interesting displays but most just pack in the shelves and merchandise as tight as they can.

It is like the airlines, flying was once an experience, now it is like riding the bus. I never got to experience what flying was like when it wasn't just pack em in like sardines. I love flying, but I hate flying for travel. I'll drive if that is at all possible.

Can't really blame the stores, people want cheap and convenient one stop shopping these days.

I live in a rural area so I understand the appeal of internet shopping and do quite a bit of it myself. Just too bad we cant have both.

 

[4x4gearhead]

I remember my parents getting a ton of stuff from Sears when I was a kid. It was like Walmart and Amazon rolled up in one, except they sold good stuff not cheap **** like Walmart. We had a Kenmore dryer that was still going strong after 40 years. Probably should have kept that thing, but it was one less thing to move and my wife wanted to get a new washer and dryer. By the late 80s you could already see the slow decline.



Unfortunately the 80s made greed cool. So many long time brands went belly up after "investors" raped and pillaged the valuable parts of them.

Mervyns was a department store chain that started out as one store in the SF Bay Area. It was a successful jeans and T shirt kind of place, I shopped there a lot. Reasonable prices and quality clothing. The company owned the real estate at all of its stores and distribution centers were on.

An investment group bought the company in 2004 and by 2005 they were closing stores and selling the real estate. They shut it all down by 2008, 30,000 jobs gone in just a few years.

It should be illegal to raid a company like that, but apparently its what all the cool kids do.

Yeah, and thats why it ***** the most. People losing their jobs. I know that sears going down the ******* wont be life ending but it will still affect those who still work there. Im sure its hard now. I had gone into sears around Christmas time to buy a few tools for my brother. I was apalled at what i saw in there as far as selection, the store had been rearranged since i was in last (which was a couple years ago i think) and they had about 1/3 of what they did 10 years ago. The power tool section looked like the vikings came through, raped and pillaged and then moved onto the single wrench rack (where there were maybe 30 wrenches when there used to be over 100 id have to guess). I could tell then that the **** was quite obviously going bad. Considering these threads have gone on for years on here between craftsman poo poo threads and sears failing threads, i honestly never noticed it really start to show til my last visit. I feel bad looking back because when i got to the register i asked the guy literally "wtf happened to this place? Its really going down the ******* huh?" He definitely seemed to be discouraged. i recall him working there for a number of years. Im sure he didnt need to be reminded that the company he works for now *****. I hope hes looking for a job.

 

[Farmall450]

 

[majerus]

The Board did sue him, they settled and most of them are investors in his other companies so they’re profiting on the failing of Sears.

Kinda crazy when did that occur?

 

[6PTsocket]

If it’s a publicly traded company, the company itself cannot control who buys the stock on the open market.

The term “hostile takeover “ may ring a bell.

All the takeover requires is enough shares to elect a new board of directors, or enough directors to control the company.

That's true. That is why principal owners sometimes buy back stock when they can. That will never happen at HF. It is privately held. It is rough when you see someone who founded a company get pushed out. When the NY Mets were broke, they turned down a number partners that were only interested at 51%.

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[majerus]

I wouldn't blame on one person. Stores come and go. Nothing last forever.

With more and more people buying online, the big chain stores suffers, Sears is just one of them, regardless who is the CEO.

I would quite frankly disagree, a CEO with a clue would have done something that makes any sense. Class up stores, advertise, establish a halfway decent Online store. Instead he sells of assets, brands and anything else to stay a float.

 

[Parrothead]

Kinda crazy when did that occur?

https://www.google.com/amp/s/amp.bu...-million-to-settle-shareholder-lawsuit-2017-2

 

[majerus]

If it’s a publicly traded company, the company itself cannot control who buys the stock on the open market.

The term “hostile takeover “ may ring a bell.

All the takeover requires is enough shares to elect a new board of directors, or enough directors to control the company.

A company can also keep this from occurring by taking a poison pill. Overall it appears that 2 people own a majority stake in Sears from what I can see online.

 

[Moparman390]

Good lord we don't need another Sears is going down thread, we all know that, unless there are new developments there's no need. Why is the OP bothering? He's didn't just start posting yesterday. OP clearly doesn't understand how stocks compare either, just looking at price alone means nothing, there are tons of variables. Can we hold off on these type of threads until something changes and there's new Sears or Craftsman news please? I'm not asking for threads to be deleted or locked I'm just asking people to lay off the now more than weekly Sears/Craftsman merry-go-round please.

 

[scottybk]

They just turned our old sears building into a Rural King store. The tool selection is much better then sears was over its last 5 years...And I could buy a live duck there if I choose too. I think that’s where sears dropped the ball, we should have been able to buy live farm animals in their stores.

On a similar note, I think Sears did actually buy pelts from fur trappers as recently as the 1960s. You mailed in X amount of pelts, Sears graded them, and then mailed you a check.

 

[xin]

That's true. That is why principal owners sometimes buy back stock when they can. That will never happen at HF. It is privately held. It is rough when you see someone who founded a company get pushed out. When the NY Mets were broke, they turned down a number partners that were only interested at 51%.

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But if another outfit called WHARF Freight came on the scene with better warranties and quality products.

 

[jalind]

Sears has been on the rocks for decades. Did a study about Sears in 1990 in graduate school. They were in serious trouble then, and had been for some time already with near zero liquidity living from hand to mouth almost purely on daily sales revenue. They've been in trouble continuously since then. How they survived the economy meltdown circa 2008-2009 is still a mystery to me. Every effort to turn it around has been misguided and inept.

I share in the observation there's nothing new about "Sears is on the rocks financially" and it's been old news for decades. It began long, long, long before Lampert showed up. He's just the latest to fail in turning them around.

John

 

[yamaha0343]

A few weeks ago Sears Holdings common stock was around six and change. I just checked. It closed yesterday at $2.73. The Kmart in Brick, NJ is closing. Every few months there is a long list of the latest K Mart and Sears closings. They are going to run out of stores to close. That leaves the horrible Sears.com. I stand by my prediction that they will be gone by the end of the year. Selling Craftsman gave them a cash infusion that put off the inevitable. Maybe Jeff Bezos will buy it. He wants to own everything. LOL!! Besides, who needs two Craftsman brands at the same time. There will be SB&D Craftsman and Sears can still buy cheap junk and sell it as Craftsman in their fast dissapearing stores. To put things in perspective, HD stock is around $180 a share. HF is a privately held company. Nobody knows how much Schmitd is worth.

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A much more interesting (and original) topic would have been “Holy ****! Sears is still open!”. Because this topic has been passed around like a bottle of Crown and worn out like a prophylactic on prom night.

 

[zendriver]

I would quite frankly disagree, a CEO with a clue would have done something that makes any sense. Class up stores, advertise, establish a halfway decent Online store. Instead he sells of assets, brands and anything else to stay a float.

CEO with a clue?

He's a multi billionaire, who has made much of his money, milking declining enterprises, like Sears, until there is nothing left, but debt. He knows - quite well, that by "classing up" a dinosaur, it will still be a dinosaur, which is why it was never part of the business plan.

Sometimes it seems we think Sears, actually belongs to us, even though most would no longer be caught dead shopping there. No one else has a right to it, though.

Actually, Sears belongs to our free enterprise system, of which it was born and also of which it will soon die.

 

[valentine]

Sears used to be a staple business in pretty much every community. In the 1970's when I was a high schooler, I worked for a couple of mechanics who owned very few tools that were not Craftsman. If something broke, it was a quick trip into the Sears, in town , to get the tool replaced with no questions asked. When I started college, we moved and I found a new part-time job, at Sears. That was around 1980, when Sears still had a thriving catalog business and "Satisfaction Guaranteed or Your Money Back" was painted over the door.
Most of what Sears sold back then was made in USA and if a customer wanted something replaced with a new one, it was. No questions asked. It was a policy that kept people coming back over and over. The store I worked in was thriving. The tool section was huge. Some of the employees I worked with had been working for Sears for decades. It was their career. Sears offered ,back then, enough for everyone. When I got married, we got our first furniture from Sears. I do realize that change is inevitable but not all changes are positive. We have become a society which exists on cheap, disposable merchandise. Most people don't even understand what a quality tool is. They care more about watching videos and texting than they do about whether or not a Craftsman tool has a guarantee and they care even less about where that tool is made. My last Sears Craftsman tool buying experience involved me trying to purchase a multi blade screwdriver that was on sale for about 50% off, which was a good price. The only problem was that screwdriver was missing its bits. No problem, I thought, because replacement bits were offered for sale on the next peg. I called the sales clerk over and indicated that I wished to purchase the screwdriver and pointed out that the tool was missing its bits and asked if they would simply give me the replacement bits as part of the purchase. The clerk looked at me like I had two heads and then said that he would "check" with someone else. The original clerk went to find someone in authority while two other clerks came over to look at the bit-less screwdriver hanging on the peg. They were speaking with each-other about the missing bits and one of them said,referring to me, "he wants a discount." I informed them that I didn't want a discount, I merely wanted to purchase a tool which had all its required parts included. After waiting about 10 minutes the original clerk came back and simply said "No." I did take the time to explain to the assembled clerks that , due to this unpleasant shopping experience, a Sears customer of nearly 50 years with hundreds of purchases to his credit would no longer be returning. I got blank stares. I won't go back. The Sears we all miss isn't there anymore. What's left won't be missed by any of us.

 

[Davefr]

Unfortunately the 80s made greed cool.

Greed has been an integral part of business since the first cave men decided to trade with each other. Without it companies cannot grow, investors bail and employee find better/more secure jobs.

"Greed is good, Greed works"

 

[kythri]

Sears would be experiencing success today, had they switched to the metric system.

 

[theoldwizard1]

I agree with Toothaker. Mr Lampert has purposely stripped almost all the value out of this company, and financially engineered it into his holding companies. The stores and the brand will die off.

The rumor have heard is that all of the real estate associated with Sear/Kmart is owned by a separate company so that Sears actual has very little value. It might take years to sell of all of that real estate But Eddie will still die a very rich man !

 

[skunkape1]

What will become of the Sears Hometown stores?? I have a couple nearby that still seem to be thriving businesses, especially in regards to appliance sales.

The nearest Sears mall store closed last summer. The two guys I remember seeing the most in the tool dept., are now working for the new HF in town.

 

[xin]

The rumor have heard is that all of the real estate associated with Sear/Kmart is owned by a separate company so that Sears actual has very little value. It might take years to sell of all of that real estate But Eddie will still die a very rich man !

Very sad decline on the entire SEARS store in the past they had QUALITY and did not focus on the LOW price (which is you get what you pay for)...

Only problem is a man may have more 'GREEN PAPER' but by no means does it mean one is happy muchless free from problems.

If the fella was a happy individual don't think he would have destroyed a good named company.

 

[kythri]

That's some great armchair psychology. Can you tell us about his relationship with his mother?

 

[MacMcMacmac]

The rumor have heard is that all of the real estate associated with Sear/Kmart is owned by a separate company so that Sears actual has very little value. It might take years to sell of all of that real estate But Eddie will still die a very rich man !

Eddie makes more money by letting Sears die than by rejuvenating it. His real money is ******* in the real estate. The last thing he wants is for Sears to come roaring back.

 

[scottybk]

Both my local Sears have closed in the past 3 months. First Phillipsburg, NJ (which was one "anchor" of a dying ghost mall), and then the little Sears hometown store in Flemington NJ.

I feel bad about the hometown store, which was operated by a very hardworking family that I believe were immigrants from Indian or Pakistan. They really went out of their way to be helpful, and kept the little store in immaculate condition. This little store seemed to close with no warning whatsoever. Sad.

The Sears stores are now so few and far between (and likely to be gone altogether this year or next) that I see not purpose in buying anything Craftsmen anymore at all. The Tekton stuff is way better quality than current Chinese Craftsmen and their warranty and customer service are top notch. Buying online from Sears is a nightmare with their crappy 1999-era website.

 

[xin]

Both my local Sears have closed in the past 3 months. First Phillipsburg, NJ (which was one "anchor" of a dying ghost mall), and then the little Sears hometown store in Flemington NJ.

I feel bad about the hometown store, which was operated by a very hardworking family that I believe were immigrants from Indian or Pakistan. They really went out of their way to be helpful, and kept the little store in immaculate condition. This little store seemed to close with no warning whatsoever. Sad.

The Sears stores are now so few and far between (and likely to be gone altogether this year or next) that I see not purpose in buying anything Craftsmen anymore at all. The Tekton stuff is way better quality than current Chinese Craftsmen and their warranty and customer service are top notch. Buying online from Sears is a nightmare with their crappy 1999-era website.

I think like others stated the guy may be making more money by letting the whole set of stories go down.

Problem is we are awash in CHINESE made garbage, Sears at the time was one of the last places that actually carried a lot of made in USA products.

Sears would have had no problems competing if they had a website like their catalog and continued to carry QUALITY over some CHINESE quantity garbage.

If quantity was the answer to everything then the USA would not be a 100 TRILLION in debt.

 

[DadsTools]

Good lord we don't need another Sears is going down thread, we all know that, unless there are new developments there's no need. Why is the OP bothering? He's didn't just start posting yesterday. OP clearly doesn't understand how stocks compare either, just looking at price alone means nothing, there are tons of variables. Can we hold off on these type of threads until something changes and there's new Sears or Craftsman news please? I'm not asking for threads to be deleted or locked I'm just asking people to lay off the now more than weekly Sears/Craftsman merry-go-round please.

I believe the answer is that Sears was once part of our lives, almost like a partner, especially with tools. I remember the times when needing a tool, you just headed out to Sears, not even thinking about anywhere else.

You see all the folks reminiscing fondly about what Sears was to them. It's almost like watching a family member die. You don't just say of the beloved relative, "She's dying" and move on. It's not that simple. Not in matters of the heart. And for many of a given age, some of what Sears was is a matter of the heart.

You write your comment in such a cold, calculated, and even callous fashion. That is precisely the mindset that helped usher in the world we live in today, and what brought about the demise of the world that once was, the world that many of us fondly recall. It was once not all blue chip stocks and balance sheets. Folks really cared about the companies that helped support their lives.

Don't you get it? We are in mourning over the loss of Sears, over the loss of a dear friend. Okay, so it wasn't your grandma who died. That doesn't mean you stick your head into a wake and yell, "Hey everybody! She's dead already! Get over it!"

We are mourning the loss of Sears. We are sad, hurt and angry over why this is happening. Doesn't matter if you don't feel that way yourself. Others do. For wrench-turners, Craftsman was our avenue to Sears. GJ is one of the most well-established venues for we to gather and share our grief and disappointment. The fact that these kinds of threads keep popping up is that this river of feeling runs far deeper than you might think. Perhaps you're not old enough, nor of a mind, to have experienced the sentiment of the world that is almost completely vanished, the world for which Sears was once an icon. If so, I am happy for you that you don't suffer any grief over its loss. But I would pity you too.

We are mourning the loss of Sears. Before it's over, more of it will come. I don't think we'll ever fully get over it, just like there are those in here that still on occasion mourn the loss of great American brands like Bonney, New Britain and Duro, and the stores that carried their wares like Wards and Western Auto. Yet Sears was a much bigger part of that passing world. If you don't share in this morning or if you're sick of it, that's fine. I don't see anyone holding a gun to your head to read them. Just pass these threads by--they're not for you. But at least have the common decency to understand what's going on here, and the graciousness to allow others to share in their grief on this forum.

 

[xin]

I believe the answer is that Sears was once part of our lives, almost like a partner, especially with tools. I remember the times when needing a tool, you just headed out to Sears, not even thinking about anywhere else.

You see all the folks reminiscing fondly about what Sears was to them. It's almost like watching a family member die. You don't just say of the beloved relative, "She's dying" and move on. It's not that simple. Not in matters of the heart. And for many of a given age, some of what Sears was is a matter of the heart.

You write your comment in such a cold, calculated, and even callous fashion. That is precisely the mindset that helped usher in the world we live in today, and what brought about the demise of the world that once was, the world that many of us fondly recall. It was once not all blue chip stocks and balance sheets. Folks really cared about the companies that helped support their lives.

Don't you get it? We are in mourning over the loss of Sears, over the loss of a dear friend. Okay, so it wasn't your grandma who died. That doesn't mean you stick your head into a wake and yell, "Hey everybody! She's dead already! Get over it!"

We are mourning the loss of Sears. We are sad, hurt and angry over why this is happening. Doesn't matter if you don't feel that way yourself. Others do. For wrench-turners, Craftsman was our avenue to Sears. GJ is one of the most well-established venues for we to gather and share our grief and disappointment. The fact that these kinds of threads keep popping up is that this river of feeling runs far deeper than you might think. Perhaps you're not old enough, nor of a mind, to have experienced the sentiment of the world that is almost completely vanished, the world for which Sears was once an icon. If so, I am happy for you that you don't suffer any grief over its loss. But I would pity you too.

We are mourning the loss of Sears. Before it's over, more of it will come. I don't think we'll ever fully get over it, just like there are those in here that still on occasion mourn the loss of great American brands like Bonney, New Britain and Duro, and the stores that carried their wares like Wards and Western Auto. Yet Sears was a much bigger part of that passing world. If you don't share in this morning or if you're sick of it, that's fine. I don't see anyone holding a gun to your head to read them. Just pass these threads by--they're not for you. But at least have the common decency to understand what's going on here, and the graciousness to allow others to share in their grief on this forum.

Good write up, one could get good quality tools Made in USA with pride and respect.

Not sure about others but when you look at CHINA and the TRILLIONS of dollars that have built that country off the backs of Americans.

 

[crasher98]

I believe the answer is that Sears was once part of our lives, almost like a partner, especially with tools. I remember the times when needing a tool, you just headed out to Sears, not even thinking about anywhere else....

very well put, thank you. I think the main reason Sears' long and agonizing decline makes me so sad is that it reminds me of going there pretty much every damn weekend with my parents and brothers and sisters, piling out of the station wagon after church... My mom & dad bought most of what they owned at Sears (on the card paying monthly of course) because it had pretty much everything they needed and apparently everything they wanted too. Or at least every "want" they chose to indulge, with a station wagon full of children. They're both gone now and I know Sears will be soon too - nothing to be done about either, but it is some comfort that some people "of a certain age" feel the same way.

On the other hand my brothers and sisters think I'm insane to give a rat's *** about Sears, so no comfort there...

 

[markhm]

Good write-up Dad's Tools.
Yes, there have been a million posts but many of us still need to express our frustration that Sears won't listen.

EL has had Sears pledge all it's real estate for his loans. He knows they can't pay back his loans and he will come out ahead when they fail and he can seize the real estate. So we all need to accept how this will play out. EL doesn't care who it hurts.

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[zendriver]

I believe the answer is that Sears was once part of our lives, almost like a partner, especially with tools. I remember the times when needing a tool, you just headed out to Sears, not even thinking about anywhere else.

You see all the folks reminiscing fondly about what Sears was to them. It's almost like watching a family member die. You don't just say of the beloved relative, "She's dying" and move on. It's not that simple. Not in matters of the heart. And for many of a given age, some of what Sears was is a matter of the heart.

You write your comment in such a cold, calculated, and even callous fashion. That is precisely the mindset that helped usher in the world we live in today, and what brought about the demise of the world that once was, the world that many of us fondly recall. It was once not all blue chip stocks and balance sheets. Folks really cared about the companies that helped support their lives.

Don't you get it? We are in mourning over the loss of Sears, over the loss of a dear friend. Okay, so it wasn't your grandma who died. That doesn't mean you stick your head into a wake and yell, "Hey everybody! She's dead already! Get over it!"

We are mourning the loss of Sears. We are sad, hurt and angry over why this is happening. Doesn't matter if you don't feel that way yourself. Others do. For wrench-turners, Craftsman was our avenue to Sears. GJ is one of the most well-established venues for we to gather and share our grief and disappointment. The fact that these kinds of threads keep popping up is that this river of feeling runs far deeper than you might think. Perhaps you're not old enough, nor of a mind, to have experienced the sentiment of the world that is almost completely vanished, the world for which Sears was once an icon. If so, I am happy for you that you don't suffer any grief over its loss. But I would pity you too.

We are mourning the loss of Sears. Before it's over, more of it will come. I don't think we'll ever fully get over it, just like there are those in here that still on occasion mourn the loss of great American brands like Bonney, New Britain and Duro, and the stores that carried their wares like Wards and Western Auto. Yet Sears was a much bigger part of that passing world. If you don't share in this morning or if you're sick of it, that's fine. I don't see anyone holding a gun to your head to read them. Just pass these threads by--they're not for you. But at least have the common decency to understand what's going on here, and the graciousness to allow others to share in their grief on this forum.

"Mourning" on and on - for years, does not really seem much more healthier, than being "cold and callused", thinking life should go on, IMO.

Usually theses threads just end up trashing Sears management, Eddie Lambert, China, etc. when the real reason Sears has declined - over decades, is because people - including many who are fond of them, long ago decided to shop elsewhere.

Maybe either way is in effect therapeutic.

 

[Tinner]

Sears circled and went down the drain years ago. What remains is that one stinking, floating turd that just won't flush.

 

[DadsTools]

very well put, thank you. I think the main reason Sears' long and agonizing decline makes me so sad is that it reminds me of going there pretty much every damn weekend with my parents and brothers and sisters, piling out of the station wagon after church... My mom & dad bought most of what they owned at Sears (on the card paying monthly of course) because it had pretty much everything they needed and apparently everything they wanted too. Or at least every "want" they chose to indulge, with a station wagon full of children. They're both gone now and I know Sears will be soon too - nothing to be done about either, but it is some comfort that some people "of a certain age" feel the same way.

On the other hand my brothers and sisters think I'm insane to give a rat's *** about Sears, so no comfort there...

This. Along with the station wagon full of kids too. Kenmore washer & dryer. Sears lawn mower. We were a Sears family. Heck, I still buy a lot of my clothes there. Have so for decades.

And don't forget....time to go fishing? Sears had everything you needed. Wasn't always about Craftsman, you know. There was JC Higgins. And Ted Williams. Had a Ted Williams trolling motor. Still have my Sears 13.5ft jon boat. Always had a Die Hard battery in it for the trolling motor, as well as in the car that carried the boat. You knew they were going to do the job for you because you got 'em at Sears. Even if they might have not always the best, you just knew that was the place to go for them.

My late Dad never cared for the hand tools, but he bought most everything else there. I remember him bellyaching on occasion about the Kenmore being a cheaper copy of the Whirlpool. But he still bought the Kenmore.

He would mourn too along with the rest of us.

 

[xin]

This. Along with the station wagon full of kids too. Kenmore washer & dryer. Sears lawn mower. We were a Sears family. Heck, I still buy a lot of my clothes there. Have so for decades.

And don't forget....time to go fishing? Sears had everything you needed. Wasn't always about Craftsman, you know. There was JC Higgins. And Ted Williams. Had a Ted Williams trolling motor. Still have my Sears 13.5ft jon boat. Always had a Die Hard battery in it for the trolling motor, as well as in the car that carried the boat. You knew they were going to do the job for you because you got 'em at Sears. Even if they might have not always the best, you just knew that was the place to go for them.

My late Dad never cared for the hand tools, but he bought most everything else there. I remember him bellyaching on occasion about the Kenmore being a cheaper copy of the Whirlpool. But he still bought the Kenmore.

He would mourn too along with the rest of us.

One of the big ones is the warranty contract on servicing what they sold.

 

[The Fall]

Outside of a year in Vietnam, my dad has been building cabinetry since 1967. Craftsman sockets, ratchets and wrenches were all he bought. He had no access to tool trucks and couldn't care less if he did. When I told him CMan went Chinese, he simply replied, "Unbelievable." I agree with what other folks here have said. Seeing Sears in terminal decline is like seeing a family member in hospice. Their USA sockets were the best deal in tools. Best warranty too.

 

[6PTsocket]

Sears has been on the rocks for decades. Did a study about Sears in 1990 in graduate school. They were in serious trouble then, and had been for some time already with near zero liquidity living from hand to mouth almost purely on daily sales revenue. They've been in trouble continuously since then. How they survived the economy meltdown circa 2008-2009 is still a mystery to me. Every effort to turn it around has been misguided and inept.

I share in the observation there's nothing new about "Sears is on the rocks financially" and it's been old news for decades. It began long, long, long before Lampert showed up. He's just the latest to fail in turning them around.

John

The only thing new is that I was surmising that the end had to be very near with the value of their stock dropping so fast. They have to be reaching critical mass. Many of their long term suppliers have cut them off. The shelves are empty. Store closings are a routine event. It has been bad for a very long time but it was never quite this obvious. They haven't had a profitable quarter in years. If it was hard to explain how they survived back when you did your study, It is damn near impossible today.

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[PugetDude]

Rural King is awesome, they have live pigs and chickens as well as ducks at our store.

But HF has a live rubber tree plant in every store... get a whiff every time I go there.

 

[scottybk]

Retail overall is having tough times, and things are getting worse (sears is mentioned in the article):

https://www.zerohedge.com/news/2018...res-are-now-2018-retail-apocalypse-death-list


Commercial real estate is massively overbuilt in the U.S. There are not enough tenants in other businesses (professional/medical offices, hair salons, ,gyms etc) etc) to take on even a fraction of what is soon to be former retail space.

It's going to have a huge negative effect on the entire economy since a lot of pension funds etc. "own" commercial real estate via REITS and other investments.

 

[Schurkey]

It appears to have contracted its fatal illness sometime in the 1980s, and after an extended struggle, finally succumbed around the late 1990s. What we see today is an imposter, an impersonator, a mimic that just happens to have the same name.

You're too generous by fifteen years. Sears was showing signs of trouble by the time the Sears Tower was finished.

Waitaminute. Sears Tower? Whatchutalkingabout, Willis?

Sears would be experiencing success today, had they switched to the metric system.

Or marketed functional "Mr. Fusion" devices.

Commercial real estate is massively overbuilt in the U.S. There are not enough tenants in other businesses (professional/medical offices, hair salons, ,gyms etc) etc) to take on even a fraction of what is soon to be former retail space.

Thank God for massive overpopulation. There's more consumers being popped-out or imported every day. Retail will be fine, eventually. It's the taxpayers funding the Welfare System I worry about.

 

[Aaron_W]

Sears would have had no problems competing if they had a website like their catalog and continued to carry QUALITY over some CHINESE quantity garbage.

All I've really seen in recent years are the small Sears Hometown stores.

Those actually could have worked well using the catalog model. Think Amazon with show rooms.
You could go down there and look at the items, maybe even buy some of the small common items like hand tools on the spot. Free ship to store for the rest.

That is essentially what has happened but not with a coherent plan, at least not one I can see.

I believe the answer is that Sears was once part of our lives, almost like a partner, especially with tools. I remember the times when needing a tool, you just headed out to Sears, not even thinking about anywhere else.

Yep, I probably wore Sears Tough Skins jeans until I was 10.

 

[6PTsocket]

Retail overall is having tough times, and things are getting worse (sears is mentioned in the article):

https://www.zerohedge.com/news/2018...res-are-now-2018-retail-apocalypse-death-list


Commercial real estate is massively overbuilt in the U.S. There are not enough tenants in other businesses (professional/medical offices, hair salons, ,gyms etc) etc) to take on even a fraction of what is soon to be former retail space.

It's going to have a huge negative effect on the entire economy since a lot of pension funds etc. "own" commercial real estate via REITS and other investments.

You sure appear to be right. There are big vacancies in the malls. Sports Authority left a big space near me that still has not been filled. When somebody goes under the space is open for a long time. Buying online seems to be the major cause. Buyer confidence is up but they are not spending it at the mall. The local Sears is using part of their space to create some kind of spin off store. Not sure what that is about. I think their free standing tire and battery stores are gone. Besos seems to be bucking the tide and is looking to move some kind of stores into malls but the anchor stores in those malls have refusal rights and he has run into resistance. He also just bought the organic, save the planet, Whole Foods Supermarket chain. I guess people don't do that much of their food shopping online. Even there he is offering speedy delivery to Prime members. I also read he has a pilot store where I guess you scan a card or something going in and after that you just take whatever you want off the shelf and walk out. You are billed online. EZ pass for food.


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[xin]

Retail overall is having tough times, and things are getting worse (sears is mentioned in the article):

https://www.zerohedge.com/news/2018...res-are-now-2018-retail-apocalypse-death-list


Commercial real estate is massively overbuilt in the U.S. There are not enough tenants in other businesses (professional/medical offices, hair salons, ,gyms etc) etc) to take on even a fraction of what is soon to be former retail space.

It's going to have a huge negative effect on the entire economy since a lot of pension funds etc. "own" commercial real estate via REITS and other investments.

Yet they continue to build these 'new' retail outlet buildings with billions of square footage of retail space for rent.

The only places filling these are the 'mega' chain hair cut places or some other crummy outfits.