Also someone was looking at our decrepit photo studio this week to perhaps bring in another photo studio. I was in shock. So why do these things if stores are closing and they are filing bankruptcy?
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If it goes to chapter 11 the stock price should be in the pennies at that point.
Even if / when SHLD does file for bankruptcy, I think it will be a Chapter 11 rather than a Chapter 7 - at least initially. This should allow SHLD to keep some of their better performing stores open, and most likely most of the Seritage stores. However, there will undoubtedly be hundreds of under-performing stores that are closed in bankruptcy.
Honestly Sears should have exited the apparel business. Very few people under 40 consider Sears for their apparel needs. Sears has alienated older people with the SYWR gimmicks, so who comes in to Sears for apparel other than a small crowd of frugal shoppers to pick over the clearance?
I've talked with a lot of other employees and managers from other Sears stores and we all can say the same thing: Sears' apparel stock sits on the floor until another season and it goes on clearance. Rinse and repeat...Sears buys a ton of apparel and 80% of it never sell till it hits clearance. A lot of it is sold near or below cost.
I think the foreign shoppers pass by Sears and go to Tiffany's. No person seeking fashion goes to Sears, none.
Circuit City announced a huge new store expansion 6 months before filing bankruptcy. I suggest you read the CC Wiki.
Corporations don't admit in advance when they are planning to file bankruptcy, even to many members of senior management. So it's business as usual right up until the last possible moment. I remember years ago Woolworths did major remodels of many stores, right before shutting everything down.
The Kardashian line was not a success. What makes them think this will work?
Talk about not knowing your customer. Fashion forward sorts wouldn't be seen dead in a Sears store. Circling the drain makes executives do stupid things in desperate attempts to try and have the semblance of relevance.
The question about Luxottica might be whether they have exclusivity through all of Sears stores or not. Does not make sense for SHLD to do that. They would be left with empty optical shops wherever Luxottica decided to close shop.
The wording eyewear shops is intentionally vague. That could mean anything.
Btw these "international" brands are very low end. So they will fit right in....
At sears optical we used to carry some sears branded glasses but recently they have all been sent back and replaced with luxottica frames which owns sears optical.
When you mention non sears branded eyewear shops are you talking about something other than sears optical? You would think that would violate the sublease agreement with luxottica.
Because they are concentrating on their better stores where these international fashions would actually sell.
As for demised or carved out space in all banners, the company is looking for others to come in and lease space inside stores for nail salons, photo studios, non-Sears branded eyewear shops, and coffee kiosks.