Posted on 01/04/2018 4:35:25 PM PST by Hojczyk
Sears told its employees Thursday that it will be shuttering over 100 more stores.
That consists of 64 Kmart stores and 39 Sears stores, all of which are expected to close between early March and April of this year.
Liquidation sales will begin as early as Jan. 12.
On a recent call with analysts and investors, Sears CFO Rob Riecker said the retailer would be building on those new concepts in the coming months, "delivering specialized integrated retail experiences" to customers. Sears also recently started selling two of its brands, Kenmore and DieHard, on Amazon.com.
Earlier Thursday morning, Macy's also revealed the locations of 11 stores that it will be closing in 2018 (nearing in on its previously announced plans to close 100 locations, beginning last year). The company has shuttered more than 120 locations since 2015, hoping that by whittling down its real estate portfolio it can focus on its best assets.
(Excerpt) Read more at cnbc.com ...
Sears was the Amazon of its time.
The retail powerhouse atop the industry.
But the management let it all slip away.
Our malls are finished. When UPS brings my purchases to my front door and I dont have to mingle with the low lifes—you cant drag me to a store.
Looks like our local Sears will survive again, I don’t know how. I go in there about twice a year and it’s like a ghost town, there is literally only one staffed checkout stand in the whole store.
It’s sad because it used to be such a highlight when I was a kid - it was downtown and we would always enter through the saddle department, loved that smell.
I have fond memories of poring over the Sears Christmas catalog as a child.
I have terrible memories of Sears telemarketers calling me multiple times in less than 2 hours asking me to get their credit card. Have not set foot in a Sears store since.
They alienated their customers and have not kept up with the times. Darwinian extinction event.
I watched the second Macy*s go up in 1957.
I still cannot accept the notion that there are hundreds of them.
They still have a hundred they can close?
I’ve been waiting for the collapse of the mall for about six years. I think it is finally happening. When there’s nobody there but us old people taking fitness laps, and youts hanging out, they are toast.
I’ve not shopped at a mall in eight years. Too expensive and too much of a hassle.
My very first credit card was with Sears. I was 19 years old. I believe my initial credit limit was $250. I proudly put that card in my wallet, impressed with myself that I could walk into any Sears store and walk out with merchandise without even having to hand over cash money.
I did that often and paid my balance off each month religiously. I then started getting my credit balance raised. $500. $1,000. $2,000!
I started feeling like Nelson Rockefeller. Sears & Roebuck had so much trust in me that I was now able to walk into their stores and walk out with pretty much anything I wanted without having to use cash. They must have put me on a list because I suddenly started getting credit card offers from all over.
Anyway, fond memories.
Sears’ downfall was building the Sears Tower. It allowed the creation of massive middlemanagement. Thus it became incapable of responding to the business environment quickly.
I didn’t even know they still had 100 stores.
Classic parody.
For our family, the Sears Wish Book was HUGE from the early 60’s until we graduated high school (early to mid-70’s)
The average Sears store has between 200-300 employees. This means 20,000 to 30,000 people are going to be out of work.
We all think of Sears as a dinosaur. But this type of of shutdown is going to sting.
Well put. I make all purchases except food and gasoline right here at my keyboard. I haven’t been to a store in 15 years.
Indeed.
Sears was the go to store in its time.
To me Sears is part of Americana.I’m very much saddened by its slow demise.
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