How does, what used to be a top 25 store, do less than 50k on the day after Thanksgiving and stay open? Crazy!!
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Back around 2001-2002 I sold about $10,000 working in the tool department. I was told it was the top store in the company one year in the late '90s. It shut down in 2018.
The last time I was in a Sears that wasn't liquidating, there wasn't much left. Hard to sell when you have nothing to sell and no one to take your money.
I ran a top 25 and we would get somewhere between 700k to 850k on Black Friday. Then in about 2011 started dropping every year.
Back in the day our Sears store did $1.25 to $1.5 million dollars on Black Friday. I emphasize "back in the day."
Top 25 stores were not doing over $1 million on black friday Friday. A local Lowe's store in my area is a top 15 store in the company and never did over $1 million on a black friday Friday. No way a sears gets close.
If the staying open until May thing is true, it would be ironic that Eddie loses money by keeping the stores open.....or closes them immediately and still loses money if he loses a lawsuit.
Just a thought but arent you all top 25 stores now? I mean there is like only 25 left.
Ohhhh, five more months of this then
Didn’t someone here say as per the bankruptcy ruling, Eddie has to keep the stores open until May, so he won’t get sued?
The small format stores did not work. The Home&Lifes, and likely the Appliance&Mattress ones too, are advertised on Transformco Properties.
If you were a top 25 store that means you were doing $1.25 to $1.5 million dollars the day after Thanksgiving. To drop to 50K isn't worth opening the doors for. Pathetic.
The overhead for full line stores is too high, especially because younger generation does not visit malls and sh–. Small format stores MIGHT work, but only temporarily. Its like plugging holes on Titanic. Future is sealed, fate is sealed, and shopping will be about 98% online within 20 Years. Maybe less.
How do they do low numbers? Easy. Hardly anyone shops in "stores" now, except boomers. My "store" is my computer. I buy everything except groceries online. Physical stores are almost obsolete now and will be completely so within 20 Years. Amazon is the future.
Because they don't have any inventory. I looked at the BF "doorbusters" for the only Sears left within 300 miles and most weren't available. Started digging deeper, they had no real refridgerators, only dorm/under counter fridges. No dishwashers. No stoves. No Microwaves. No mixers. Not a single power tool. They had the the sh–ty wrench set that is so badly made you can see it in the pictures.
Internal thefts??? Regional LP probably came in and apprehended most of your own LP team and is keeping the remaining LP associates including you under high survellience.
Our apprehensions were way up this year even with COVID. We also got a few internal thefts as well to add to the score. So loss prevention made up for what the associates failed to produce in sales.
@gci+189DXfSY Isn't that exactly what the old small-town Sears Catalog stores were? Back to the future.
I was in San Clemente mall yesterday and there is sports store there (Asics) that is allowed to have 8 people in the store. Some genious called 6 employees to work yesterday and they were able to have only 2 shoppers in the store. The line was super long.
It so makes no sense...
Meanwhile, Lululemon had a pop up store open too - they pulled a ton of racks outside and were minting money.
Look for much smaller stores with less merchandise which has already been happening.
The next big thing is FULFILLMENT CENTERS in towns/neighborhoods which will replace many retail stores (think: UPS stores). You can order to your fulfillment center, pick up there and avoid any shipping fees, and also return your unwanted merchandise there. Several department stores will share the same spaces.
Anyone remember the old Sears, Roebuck and S&H?