There are a lot of posts about closing stores here and I absolutely understand, we are all scared. I, on the other hand, came to terms with the fact that one day everything will be closed and that waiting for the news of any particular store closing is just agony and stress. Someone has made a good observation that the essential question is actually when will they definitely close all stores and will what is left of the company go entirely online?
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To the poster below, the post you are referring to did NOT mention taking his purchase to a "store" for installation. He mentioned taking it to his local auto mechanic for installation. If I read his post correctly, he purchased the part cheaper online than what his local mechanic was Charging. Then he simply took it over to his local service garage, to get it installed. He made no mention of taking it to any "store", LOL. Not sure what the obsession with "stores" is, on this site. I haven't set foot in a non-food "store" in at least 5 Years, LOL.
Poster didn't go to a "store". From what I read, he ordered a seat motor online, and then went to his local auto mechanic to install it. I don't see anything hypocritical in his post. He wrote that online is the way to go. I agree. Obviously, online refers to purchasing his item. The installation cannot be done over a computer LOL. So he could either do it himself, or take it to his garage to get it installed, and it appears he chose the latter. What he was implying was that by purchasing the part online, instead of through his mechanic, he saved Money.
Poster says online is the way to go. Yet takes his purchase to a store for installation. No end of humor in these threads.
@meb+18Ejn00k As someone mentioned, they don't really do "engine work" at Sears. Just tires, batteries, basic stuff like that. So if your car needs engine work, you wouldn't be going to Sears anyway (as someone posted below).
lol. NOLs require profits in order to be of use. When was the last time Eddie had those? It's not worth a single red cent.
That's not a half bad idea. Sears and Speedway gas stations to? They make a tasty rotisserie pizza.
Eddie Lambert needs to buy Circle K and merge them with Kmart next.
We are mere pawns keeping the wheels turning in his grand game of financial chess.
It's always been about the taxes and the credit sale. He has to keep a few stores open to reap the tax benefits and line his pockets. Eddie is one smart financial cookie.
NOL definition: https://www.investopedia.com/terms/n/netoperatingloss.asp. A NOL can benefit a company by reducing taxable income in future tax years. This may benefit Lampert because of the complex structure of his many businesses, the inter-relationship between his companies and the common ownership that exists. All the benefits that are derived from an army of tax lawyers.
NOLs?
Yes it is agony. Worked for this company for a long time. I'm waiting it out for my severance (If we close before the whole thing folds) waiting to sit on my a– and collect unemployment for 6 months and then retirement. I don't want to look for another job, this will be my last job. Sooner they close the better. Pull the friggen bandaid off please. Happy times ahead!!
Article: https://finance.yahoo.com/video/mark-cohen-struggling-retail-players-155209659.html?guccounter=1. Per this article: "MARK A. COHEN: Well, though they may have some stores that remain open, I think what's holding them off from closing outright is that there may still be NOLs available for Eddie Lampert to harvest. At the end of the day, the business is essentially over. It's something I almost didn't want to mention, because it's meaningless. I just can't imagine what the future would hold for whatever remains as they hang in there as enterprises." Mark is a professor at Columbia University.
Not much agony getting paid to look for another job.
sears com = wards.com
Agony? Lol. If you’re still employed and working for Sears, how does collecting a paycheck hurt?
CNN article: https://www.cnn.com/2020/12/29/business/sears-grim-future/index.html. Per CNN, Lampert would close all the retail stores immediately if the commercial real estate market improved. He is tying to tread water to buy time for the market to improve. In any event, Sears retail stores will continue to fade away. An online presence may be tried, but the value of the Sears brand to the consumer continues to decrease and is now questionable. Lampert thought he could make Kmart and Sears work in 2005, but later realized that he couldn't. He has been squeezing dollars and cents from the assets ever since, to the detriment of everyone else concerned. This will not stop.
All the 'power' in Sears.com would not be enough to light up a light bulb.
The only "loss prevention" that might have succeeded for Sears and Kmart is those Marines in 2003 properly finishing the job.
@1nfc+18Ejn00k lol. Eddie and Leena have been making their plans for years. SYWR has been the company's savior for years if you just listen to Eddie you Just look at all the numerous land "brilliant" patents they've filed that translate directly into SYWR initiatives (who in their right mind would steal their business ideas). The result is twelve billion dollars in losses. The biggest lol is that Eddie was still trying to sell the SYWR garbage this whole time even post bankruptcy, because he saw value in it. The two couldn't run a profitable lemonade stand.
i wonder if Eddie has Leena busy making a plan for him to turn Sears.com into an online power-house, that will mop up the floor with Amazon.com, Walmart.com, and Target.com.
There isn’t merchandise because vendors don’t want to ship merchandise and risk not getting paid for it. That’s been the issue for 10 years.
Sears.com is a joke. Anybody that thinks it is going to be successful is poorly informed.
Stores haven't gotten merchandise of any quantity in months and the company isn't buying anything for spring or summer. Close the stores or get truck loads of product in now. If dollar stores have full shelves and full back rooms of product ; why can't Sears or Kmart do the same. The store appearance of empty kmart stores still open with almost nothing to sell is a crime against retail in a capitalist society.
Well, sure! I don't have too many tools here. That's why I had him do it. There are YT videos on putting in a seat motor, but not worth my effort.
@1cnz One part and you had to pay a mechanic to put it in? Now that's funny!
LOL, buddy, if your car needs engine work, you won't be going to Sears because about all they do is tires, oil changes, brakes, etc., not a whole lot of engine work. You would probably have to go to a full service mechanic for engine rebuilds and major stuff like that. But even for stuff like that, as an example, my car needed a power seat motor not long ago. My mechanic wanted $500 for that thing plus labor. I found it on Amazon, for $200, then I just Paid him $100 to put it in, because I didn't Know how to do it. But the point is, I saved $300 by shopping online. Yes, there are a few things that of course still need to be done in person, not online (like car repairs, plumbing, roofing), but majority of retail can be done online now, and within 20 Years, it will be virtually all of it.
But as far as household goods, clothes, groceries, and the like, I shop 100% online now. It is so much easier and many have fast, free shipping now. That is the future.
@alg The stores need to be profitable first before they can maintain profitability.
I still go to the store, shop and get services. Online is not the way to go for everyone/everything. For instance, my car will need engine work at Sears auto center soon. How do I get that "online"?
LOL, "all scared"? Speak for yourself. I don't fear anything, the least of which some obsolete company finally getting gone, about 25 Years past their "Sell by" Date. If you get "scared" about a silly old sawed-off store closing, you have bigger problems in life, than just the store closing LOL!
They should have closed this silly company after 9/11, they have been just about irrelevant since then.
Online is the way to go. That's how I shop now, as do almost all of my friends/family.
No worries. Loss prevention will guarantee that all stores will maintain profitability through the minimalization of employee and customer theft.