When does Sears close all stores - Poll

[RunningBum]

I haven't been in Sears for years, but I bought a Kenmore washer/dryer (rebranded LG) online in late 2017. Just over $1000 including all parts, tax, and delivery, which was a lot better than I was seeing for anything similar. I think the warranty was a year, and I suppose it was a risk that they'd make it. I did not press my luck with an extended warranty.

 

[timo2]

Maybe Al could write a book, purely fictional of course, about an Evil Vampire Hedge Fund Manager who sucks the blood out of companies and turns the carcasses into Zombie stores.

 

[Red Badger]

Our local Sears (an anchor in the nearby mall) is now shuttered, but they are turning the downstairs into a big entertainment complex (bowling, ping-pong, darts, drinks, food, etc). The upstairs will be a big furniture store (kinda like a "Rooms-2-go).

I miss what Sears used to be, but this local conversion is not the worst possible outcome. I hope it succeeds. Another department store in the same mall is also shuttered, and I can't see how JCP is still afloat (like we all said about Radio Shack for about a decade. A classic piece from The Onion).

I like The Onion. They've also become the last bastion of honest political discourse. Those are my facts, but you are welcome to yours as well.

 

[Ready]

I've never been able to figure out how Lampert ran the company into the ground. He was supposed to be a very intelligent guy who was considered to be quite shrewd in the financial industry. He did nothing to invest in the stores, change the product mix, or adapt to the changing needs of customers. He had to know that not doing this would spell doom in the end. Did he do this on purpose to make money on the real estate? Perhaps, but it seems farfetched to think he did all this on purpose. Which leads to me to question what he was trying to do with Sears in the first place.

 

[timo2]

I've never been able to figure out how Lampert ran the company into the ground. He was supposed to be a very intelligent guy who was considered to be quite shrewd in the financial industry. He did nothing to invest in the stores, change the product mix, or adapt to the changing needs of customers. He had to know that not doing this would spell doom in the end. Did he do this on purpose to make money on the real estate? Perhaps, but it seems farfetched to think he did all this on purpose. Which leads to me to question what he was trying to do with Sears in the first place.

Maybe He's not that smart in real life, and we all have fallen for the hype? Look at Best Buy and Target. They have worked very very hard at surviving in the current environment. And they are succeeding at the moment. It is obvious none of that type of work went into Kmart and Sears. We could have a betting pool on the reason why.

 

[imoldernu]

Having gone through the shutdown of Montgomery Ward I can tell you that this is not a simple process. While my part in the closing was a project manager to close the 2400 catalog operations, my office was on the same floor in the MW Tower in Chicago as the corporate real estate department, so I got a chance to see just how involved the rental, lease and ownership part of Malls was to the profitability of the corporation. With some mall ownership and multi year lease contracts, the long term obligations far outweighed the profitability and/or liquidation costs of the actual retail operations.

Retail stores in general, operate on a very low profit margin, (in the single digits), so the investment value can be very complex. While the neartime concerns about brand ownership are currently first in the news, the underlying real estate values are likely the basis for the tough negotiations.
My opinion only.

 

[braumeister]

Having gone through the shutdown of Montgomery Ward I can tell you that this is not a simple process.

You're so right.
Many years ago I had to write a large part of the planning document for closing a major Air Force base. We started the plan with everything that had to happen on the last day when it was officially closed, and backed things up day by day to show what had to be done on each day. D-365, D-364, D-363, etc.

Just writing my part of the plan took several months and ran to hundreds of pages. The entire plan was almost six inches thick. It was a fascinating experience, but I wouldn't want to go through it again!