A smaller, profitable store footprint, revitalized brand, enhanced digital presence, top brands like Roebuck & Co and Craftsman, and shed debt means that Sears post-restructuring will be enormously successful.
Doubters have been wrong for years about Sears and Kmart closing. Eddie has won and a year from now Sears will be setting new profit records. Sorry haters!
I have very high expectations of myself in life. I have plenty of employment opportunities. I have been with Sears for 15 years in my store. They have paid me well. I will work hard and be positive as long as I am employed by Sears. Whether Sears continues or goes out of business, I will wake up every day with respect for myself, and set an example for my kids. My work may not save the company, but I will not be a part of expediting the end by being less than my best.
I ain't no short seller and I do have a local Sears... the one I work at which is in liquidation. OP is FOS.
So -the magic "restructuring Effort" is going to work this time? Vendors want their dough and will force sears in to 7.
That time has past. To much debt.
You are the ignorant one. Stanley, Black and Decker BOUGHT Craftsman for $900 million. SEARS is merely allowed to continue using the Craftsman name on the products sold at SEARS.
SBD will also pay some money each year for so many years to SHLD as part of the deal, but SHLD will certainly be long gone before that agreement ends.
SEARS Craftsman products are largely made offshore by the companies who will provide the lowest priced product.
SBD is physically rebuilding the Craftsman brand using a different supply chain. They are actually re-engineering and re-designing the products and much of the production is actually being moved back to the US in SBD facilities.
Hilarious.
Literally everything you said is wrong.
Craftsman is being licensed by SB suppliers will be lining up for the right to supply that sales channel.
Leave the analysis to people who aren’t ignorant, please.
One, they don't own Craftsman anymore, dum---s, and two, keep living in your own little world while the company continues losing money day after day after day. You know those recent 80 announced to close? You think that's going to contribute positives to their bottom line? No! They're going to lose money on them, and those 425 "safe" stores that are being sold, no chance in h--l that vendors are going to continue supplying them when they weren't before! This company is doomed to fail, only your rose colored glasses prevent you from seeing it!
Interesting to see that all the haters are either short sellers or people who don’t have a local store (and thus don’t know what they’re talking about).
Leave the analysis to people who aren’t ignorant, please.
Kinda hard to believe in a turn around when the company has abandoned my market (portland, Oregon). We have one sole surviving Kmart store in the state, 70 miles away with the resent list announced. Now that the last sears store in the state will close in March we will have zero FLS left. Handful of sears and Kmarts left in Washington state, but that’s it for my area. Sorry SHC. I’m not driving 100 miles one way to visit a store. Just within the last few months I had 4 sears stores and 3 Kmarts within a 10-15 min drive. Sad.
We are now due to lose our last two Sears stores in my city by March, according to the latest press release, but even beyond that it is really difficult to imagine Sears/KMart lasting until summer 2019. As an uninvolved potential customer, I'll tell you a quick story ...
My washing machine died about 8 months ago, had to go shopping for a new one. I knew what type of machine I wanted (old-school, top-load w/spindle), so that was a great way to weed out potential vendors. Sears was in the mix (they carried the type of machine I was after) and they topped my list at the beginning of my search, because I figured they'd be offering at least one of the best price deals, thanks to the struggles I'd been reading about. Wrong! They fell about middle-of-the-pack on price, with Best Buy and even JC Penney beating them by $20-50 or more. I finally narrowed things down to the exact machine I wanted and three stores carried this: Sears, Best Buy, and one other I can't remember now. It all came down to delivery specifics - cost and the ability to schedule delivery for the exact day I was wanting to receive the item. It wasn't even close. Sears wasn't able to deliver until about 1.5 weeks after when I wanted to receive the machine, while Best Buy let me pinpoint my date and time of day (am., pm., etc). They also offered lower prices for haul away, etc.
I was really surprised at this. I figured, given the death-woes I'd been reading about, Sears would be trying harder.
This past Black Friday, I visited a large local mall with my niece from about 3-6 p.m. The entire mall was humming - packed, actually - even that late in the day. I had to walk through Macy's to get into the mall, and it was a difficult journey - most of the aisles were jammed with people standing in line or examining merchandise. I had to zig-zag through the clothing racks to get to the mall entrance. Macy's had a DJ spinning discs at their entry-way, and they'd set up several dozen fold-out chairs people could use to cool their heels and take a load off for a few minutes. A bit later I had to run out to my car to drop off some packages and I purposely cut through Sears which was situation next to the Macy's, because I wanted to check out the action there. Ghost town. I saw maybe ten or twelve people shopping on the floor I walked through, and it seemed like there weren't even sales going on. At least there was a significant lack of signage about big Black Friday discounts. It was something of a bizarro-world; just outside Sears entryway it was like a beehive of fast-paced activity, but within the Sears store itself, one could have ballroom danced with a partner down any of the aisles without fear of bumping into anyone.
You can't make a go of it in retail without customers, and the customers just ain't gonna be there if you don't carry stuff they want to buy. Bankruptcy means that many vendors are going to get stiffed, meaning they're going to be hard-pressed to find quality manufacturers willing to sell to them.
As for KMart, forgetaboutit. Really can't see much reason for them to exist, not when Target makes it so fun to shop.
It's really difficult to imagine Sears/KMart existing much longer and frankly I can't think of many reasons to consider shopping there. Too many competitors are doing things too much better to bother.
This is the same tired rah rah corporate speak that has been going on ever since Alan Lacey abandoned Sears and turned it over to Eddie Lampert.
Despite years of decline, all we have been hearing for the past decade is the glorious transformation and turnaround that will be taking place.
If Eddie and the PR people that put out these statements on behalf of Sears truly believe what they are saying about this turnaround, no wonder the company has been run into the ground.
It takes more than wishful thinking to run a successful company.
Sears had a billion dollars a year in operating cash flow when Eddie acquired it. It was a very asset rich company swimming in money. Lacy overpaid for a bunch of Kmart stores overinflating Kmart's price allowing Eddie to take over Sears, and the rest is history.
Had Kmart not bought Sears, Km would still be in a turn around to the positive and Sears would have perished years ago. Sears has been using Kmart’s cash flow, bleeding it dry to stay alive.
Someone needs to put more effort into their satire. D+.
Someone is off her meds again.
I have been telling anyone I know to stay as far away from Sears as much as possible. Staffing and hours have been cut too low for effective customer service and corners are being cut. Management are so afraid to fall behind on particular metrics that they will make decisions that in the end hurt the customer but cover up for a stores failure. They would rather deal with an angry customer then their bean counting District Manager noticing a blip on some worthless stat.
this seems like a different cheerleader, they must have put a table on the street in Mumbai with some food for work signs "Eat today lie to American Sears workers" inquire within
"The numbers don't lie"
No they don't...529 million in losses. Right there on prime clerk. Time to shut face reality and shut it down.
Sears is closing stores because customers are not shopping at them anymore.
All that will happen if Sears shrinks to a 400 store footprint is that there will still be 400 stores that customers no longer shop at and the whole thing will end up in liquidation anyway.
Sears has been "transforming" for the past decade and a half......from a profitable retailer to a bankrupt one.
Empty parking lots, stores empty of customers does not signify a healthy retailer.....Cistomers can buy Craftsman Tools at Lowes and elsewhere. Sears gave up on its electronics dept and gave away its market share there.
Sears stores are literally falling apart and look like a throwback to the 1980's.
Sears cannot survive without customers and customers have abandoned Sears.
The negative publicity about Sears has also eroded consumer confidence.
With the rounds of store closures, many shoppers that had multiple Sears stores within a short drive of their homes now find that they will need to drive as far as 100 miles or more to find an open Sears store.
Sears would have had a fighting chance if Eddie Lampert had never become involved with the company.
The blame for the downfall of Sears lies fully with Eddie Lampert.
Just when you think this company will finally die, it gets a bit of life to linger on a bit longer..
I've been with company 12 years and truly didn't think the company we be alive this long
It's so depressing without customers coming into the store
I was shocked that Novi Sears was on the list yesterday.. Huge store and a lot of opportunities at that location to get customers in the door but the top crooks are just doing the same dull sales as they do throughout the year
does that just leave the livonia store at 7 and middlebelt and westland shopping center sears left in metro detroit
to all those loosing their jobs at least the wondering is over and you all will be finding better jobs making more money
Hate all you want. The math doesn’t lie. Sears will soon be back in black, with restructuring removing legacy expenses and debt.
Roebuck and co is a top brand?! They sell cheapo, poor quality clothes and 5 dollar jeans. And the craftsman sears sells will become irrelevant now that stanley makes a better version of it
Keep drinking the kool aid. You are completely delusional. Sears couldn't make itself relevant. What is gonna change? Fadt eddie will buy it and eventually sell all the real estate.
Keep dreaming sears wont see 2020