Skip to comments.Sears to close 62 more stores
Posted on 03/15/2012 7:46:39 PM PDT by Altariel
Sears Holdings (SHLD +4.34%) already said it would close as many as 120 Sears and Kmart stores this year in an effort to turn the business around. But that wasn't enough.
The struggling retailer said Thursday it will have to tighten its belt even more. Sears is now planning to close 43 Hometown stores, 10 Sears Hardware stores and all nine stores in the Great Indoors chain. Hometown stores are independently operated, and sell hardware in mostly rural areas.
Sears is also getting rid of clothing in 10 Sears stores -- perhaps in a test run for a chain-wide initiative in the future. Instead, those stores will sell more household items such as mattresses and furniture, the Associated Press reports. Shoppers have requested more choices in those areas, the company told the AP.
Sears has been busy with a number of moves designed to stem the bleeding from its bottom line. It's been trying to spin off its Hometown and Outlet stores, but the closure of 43 of those may show how well that's going. It's also selling 11 locations to General Growth Properties (GGP -1.07%).
Scratching clothing from its lineup could be a very good move for Sears. Most people don't shop there for clothes. They might pick up some clothing as an afterthought, but they visit Sears stores for appliances and hardware.
(Excerpt) Read more at money.msn.com ...
Sears closing 63 stores. Foreclosures on the rise. Gas price at an all time high...And the economy is roaring back. LOL!
Nah... that would never make money.
Shoot!!! I love Sears. That damn George Bush.
An unseasonably warm winter?
Easter is coming?
MLB Spring Training?
It's because of GEORGE W. BUSH!!!
(is the ‘/sarc’ necessary?)
Our Posts were 6 seconds apart; same message. Glad I was first. LOL!
Sears has been down the tubes for years. The stores are old, outdated, uninviting. Kmart too. It is only a matter of time that they all close. The free market generally weeds out companies that do not keep up with the times and adjust to the markets.
Great minds and all that...:)
We have a small Sears catalogue store here. They sell lots of lawn mowers, refrigerators, washing machines and basic craftsman tools. Might be the store model for the future.
How is that recovery working out for you?
That sounds like our Sears store too just like in the old days, except that they don’t sell guns anymore like the .22 rifle my Dad bought for me in the early 1960s.
I think the CEO of Sears will regret the decision to pull advertising from Rush.
It doesn’t help that Sears home service is a nightmare in a van. I had so many issues trying to get my snow blower fixed last year and they would do nothing to comp me on the fact they had to come out 3 times to get it right with weeks between each visit. Granted there was a lot of snow last year so I know they were busy but how they handled it was terrible.
The other part of this has to do with image. I saw an article a few weeks back where it stated that Sears’ rivals spend between $6 and $8/foot on upgrades/updates in their stores and Sears spends between $1.50 and $2.00. I get depressed walking through Sears and typically only go in there for hand tools or to get from the parking lot to the mall. I can’t even get paint at my local Sears any more.
Sears had a chance to do something like that, but it’s now called Amazon and eBay. There is still a way they could enter that market in a big sort of way.
Imagine if Sears would set up an online store in a deal with one of the big shippers like UPS, but designed to also integrate “sub-stores” by a bunch of other catalogs out there. There are hundreds of them, that still send out paper catalogs before the holiday season.
The idea being that all together, it would function like a virtual Wal-Mart. Not just the entire Sears and K-Mart inventory, but that of all the other catalogs, from Edmund Scientifics to the Cheese of the Month Club.
I've often thought of writing a sci-fi short story based on that catalog.
Man, I am so glad the economy is improving!
That’s what the Magic Sqwauking Box in the living room told me tonight!
How long before you color them gone?
I remember being a kid and waiting for the Sears catalogue to show up in the mail. A bygone era.
Doubt it. Twenty years ago, I had one near where I was living at the time. It didn't last.
FRiend you’ve got something there, seriously. A kind of Steven King-thing. I really think you should go for it. I mean it.
And just where does this fall in the “jobs created or saved” liturgy?
I was thinking of something more Niven-like kind of sci-fi.
That is what we have here as well, but they are having difficulty with Lowes and Home Depot as well as Walmart.
Just closed the last smart in Tallahassee recently/soon. And no, im not following you around threads.. lol.. kmart truly sucked..
Snip: The parent company of Kmart and Sears, facing flagging sales, plans to shutter a total of 173 stores during the first half of this year.
Well whatever muse you want to pursue I think you definitely should do it. I posted my thoughts about how it was when I was a kid waiting for the Sears catalogue in the mail. I remember how around early November it would arrive and I would POUR over that thing for hours just looking at the toys(Matel, Hasbro and Marx) and when I saw your post it just bought it all back and your idea just blew me away. I mean it man, you’ve really got something there, DO IT!
Sears is a case study in what happens when any organization abandons its main mission in favor of over reaching into areas well beyond its expertise.
Anyone else remember the Coldwell-Banker - Sears alliance?
“and I would POUR over that thing for hours just looking”
Achtung! A friendly tip from the language Nazi: the word you are thinking of is “pore”, not “pour”. At ease, citizen.
Du hast recht!(”You are right’’). :-)
You can't get paint at any sears store anymore.
The last time I was in Sears the sales clerk started in on his “Here’s why you need an extended warranty .. “ speech, memorized, and he was presenting it well but I cut him off, pointed out that I had always had good luck with Sears stuff, thanks but no thanks—and he’s a little miffed:
“Don’t you even want to hear about it?” and I let him know I had already listened to two other employees edify me on this topic. It was obvious the managers had sent them out that morning on a mission.
And I didn’t want to put the charge on my 22% interest Sears card further hurting his feelings. Haven’t been back.
Or to Penneys either, after trying to return a pair of catalog shoes and listening to an employee explain why a credit on these too-tight shoes I had worn only on carpet were my problem, so that I gave them to someone with smaller feet.
USA, USA, USA. Big sigh.
IIRC, Sears was one of the sponsors to drop Rush, so henceforth I will not buy Sears merchandise.
And if enough do likewise, Sears will be closing many other stores.
For years I bought almost all of my clothes at Sears. I'm the kind of guy who would buy a shirt with a built-in pocket protector if they existed.
I stopped buying clothes at Sears because when I went into the store to replenish my wardrobe, they didn't have the very fashionable items I was used to wearing. I'm not sure whose needs they were trying to fill, but it was obviously not mine.
If you compound the problem of not having the right products with having a minimal staff of uninterested clerks you have a recipe for bankruptcy.
Now that Sears has decided that Rush needs them more than they need Rush, I will cease doing business with them completely, with the exception of one additional purchase to use a gift certificate I hold.
There are plenty of substitutes for Sears. Now I need a good substitute for Allstate. Do Freepers have any ideas?
many decafes ago, boys in puberty pored over certain sections of the catalogs for a different reason
I remember those days. It was not the toys or Craftsman tools section, either.
??? Sears does not have catalog stores? They closed the last catalog store in 1993 (in July to be exact)
Try Guide One.
Best prices on home, winnibago, two trucks, and a car.
Had to use their claim services twice. No arguements, full payout with no hassle. Love ‘em and recommend to friends.
Don’t shoot yet. I need to adjust my suspenders first.
Sears is run down and junky. Seems like most of the floor space is dedicated to endless, disorganized clearance racks. The shelves that appear tidy and orderly from a distance, look that way because when you get up close, they are bare.
The stores have looked like that for years, so I wonder how they manage to stay propped up. Obama stash?
As a kid growing up in the ‘70s ALL of our clothes came from Sears or Penneys. However Kmart was too low-rent for my parents. At least Sears has great tools, with a lifetime guarantee.
And then Playboy came along and ruined that little innocent bit of fun
A big concern I have about changing companies is that I might hurt myself more than I hurt the company. I'm not familiar with "Guide One". I'll look into it.
I would be disappointed if I changed to Guide One and then the next week they stated explicitly that they won't advertise on Rush. This boycott business is tricky.
“And the economy is roaring back. LOL!”
I’d love to see how the media convinces all of these former Sears employees that Obama is the answer.
The Sultan won’t even win Illinois.
Sears was destroyed by the “Wal-Martization” of America; they sell the same cheap Red Chinese garbage, but Wal-Mart could undersell them and you usually didn’t have to deal with a mall to get there.
After watching an Asian “replacement American” try on shoes with no socks in a mall, I haven’t gone back (he was wearing sandals, and simply slipped his feet right into those shoes looking for a good fit). I wanted to throw up; people have told me I should have taken a picture with my cell phone and posted it online, but I didn’t think fast enough to do so...
Very few American in our malls here in the NYC metro area.
Actually they operate one of the successful mail order on line catalog businesses....... Lands End.
When they bought it I anticipated they would ruin it but that did not happen. They have good products at a reasonable price and if you are careful, you can get overstocks at an excellent price