Sears/Kmart quickly disappearing

[rekees4300]

They are closing 72 more stores and selling off Kenmore brand.

"The company closed a total of nearly 400 stores during the past 12 months, and now has a total of 894 left, including the 72 slated for closure. The two chains had a total of 3,500 U.S. stores between them when they merged in 2005."

Sears is closing 72 more stores

 

[Oldoak]

Not surprising. I think Sears/Kmart will completely disappear from the retail market in the not too distant future.

 

[jmc]

Another article summary said the corporation will probably fail but the hedge fund guy who masterminded this slow motion failure will do just fine.

Both companies had huge headstarts, economies of scale, universal name recognition, stores about everywhere. How do you squander all that?

 

[TractorGuy]

Was at the mall last week which I rarely visit and decided to walk through the tool section of our Sears. Saw 2 employees doing something over in the exercise equipment area but no one in the tool/outdoor equipment area. They no longer have the checkout counter that used to be in the tool section. Didn't see a single customer.

 

[kcflhrc]

This pretty much sums it up

Kmart Sucks! - YouTube

 

[rekees4300]

How do you squander all that?

Stop selling merchandise, start selling credit cards.

 

[jmc]

Stop selling merchandise, start selling credit cards.

General Electric learned that the hard way too.

 

[Groo]

Kmart was on top of the world locally, until they put up a Walmart next door.....Sears is nothing but an aplience store these days. There are tons of those.

 

[buckeyefarmer]

Not surprising. I think Sears/Kmart will completely disappear from the retail market in the not too distant future.

Yes, like Montgomery wards, zayres, and others before. Lots of chain food restaurants also on the decline, subway, applebees, chilis, etc.. Markets change..

 

[mddorange]

They are closing 72 more stores and selling off Kenmore brand.

"The company closed a total of nearly 400 stores during the past 12 months, and now has a total of 894 left, including the 72 slated for closure. The two chains had a total of 3,500 U.S. stores between them when they merged in 2005."

Sears is closing 72 more stores

Fast Eddie, who owns the hedge fund that bought Sears and then Kmart, only got them for tax write-offs.

As every retail reporter has written about over the years, he does not spend any money to update and upgrade the stores. In fact, he does not hire anyone with retail experience to run them either.