Just to prove that leaving Sears Holdings was not the savior some expected it to be at Sears Hometown. The store in Moline is closing sometime next month., and this is only one of many.
https://qconline.com/business/sears-hometown-store-closing-in-moline/article_e05d7017-9cbd-5def-ac05-ae832e0bf099.html
@1rhd - "During the first quarter we completed 15 additional direct sourcing agreements for our Hometown segment, further reducing our reliance on SHC for Hometown inventory."
http://shos.com/wp-content/uploads/2018/06/FINAL-SHO-06.08.18-8K-Q1-ER.pdf
@1dce - "We closed 21 stores in the quarter as we continue to aggressively pursue options to exit the remaining under-performing locations that do not provide a positive return for the Company. In the second quarter we intend to make further progress on our store portfolio optimization initiative by closing 90 to 100 stores in our Hometown segment."
shos.com/wp-content/uploads/2018/06/FINAL-SHO-06.08.18-8K-Q1-ER.pdf
SHOS stores can be and are VERY profitable. Not with inept SHLD management but with savvy businesspeople running them who service customers and know their market.
They still sell mainly sh--ty Sears brands.
The owners of SHOS are not renewing their contracts because they are losing money. Others are closing due to landlords wanting them out. SHOS even did an ad campaign to tell everyone they were not affliated with Sears but were independent owners but I guess Sears name and reputation is so bad it didnt work.
SHOS has stated intention to close about 100 underperforming stores. See website for quarterly report.
iayd, where is your list of 100 closing stores? SHOS are individually owned franchises, not likely to be closed as a group.
SHOS is closing 100 stores now.
There were a few closings announced in the last few days. One landlord is in a 3-way pissing match with the franchise holder and shos too. Customers are getting the shaft leading to still more great press for the Sears name.
SHOS is losing money and closing stores. They will probably outlast SHLD , but are on the same path
Franchise stores will come and go. Closing those stores is just getting rid of people that can't run a business. SHOS is not suppose to be the saviour of Sears but it will continue on. Like Dollar General it serves areas that are harder for amazon to influence for now.