How can we bring the customers back to Sears? Is there even a way?
23 replies (most recent on top)
In caskets??
That may be what he wants to do, but he can’t do it right off the bat. He wants the tax writeoffs for ESL, but the rule is that the original company must remain in operation for them to be used. The IRS has the sole discretion to determine that, and any decision is non-appealable. If he suddenly cuts the store base in half after blathering on about jobs, he’s screwed. He’s already been mentioned in Washington several times by members of both parties. (POTUS has said that Sears has “obviously been very badly run,” and Dems in the House are going to want to keep something like this from happening again, mainly in relation to the pension mess.) Because of the attention given Eddie and Sears by politicians, the IRS is not going to let him keep those writeoffs. For that reason and that reason alone, I don’t think we’ll see any major cuts after ESL takes control. SHC will continue to cut corp employees, but there won’t be any more store closures or layoffs of public facing employees. The stores left are also for the most part on worthless or nearly so real estate, else they’d have been sold to Seritage.
Unfortunately if the bankruptcy judge oks the auction sale, you wont have to do a thing. Out of the 400 stores left there is possibly 200 that actually make a profit. So look for at least 200 sold off as real estate or leases the remainder will be limited small print stores as he pushes kenmore and everything else out to other stores to sell. By the end of 2020 sears physical will quietly disappear.
Obviously Eddie would have to sell the company. An owner/CEO not interested in new customers isn't going to get customers. He's literally said this publically. Otherwise there's no hope.
Not when there’s not a store in my entire state
Not in my neighborhood!!
Physically dragging them into the store would be the way. Although I suspect it wouldn't end well.
In 2 weeks (if it goes thru) he will own NO shares of the company. So there's no shares or bonds of his to sell. No board to direct him or remove him. No shareholders. Nothing. He owns it completely just like you own a pair of shoes. Nobody can do anything about the decisions he makes. Those days are over (not that they ever really existed since he owned >50%. Now he owns 100%. No banks own anything. They loan him money but they have no say in anything unless he defaults on loans.
The days of removing him are gone. Just like your neighbors can't remove you from your house because they don't like which bedroom you choose to sleep in.
Mr. Ed owns Sears now (well soon). Lock, stock and barrel. The only thing that changes is he will have absolute control over the company. If you didn't like the way it was you'll hate it then.
Lampert isn't interested in running a retail enterprise. Where have you folks been for the last 14 years? NOTHING has changed. NOTHING.
Sears lost $12B under Eddie Lampert. The first thing you do is fire him and put someone else in charge. He should not have any part of this. Remove all his people. Sell his shares and bonds. Remove his taint. His brand is pure poison to the company.
So let me understand this your saying Sears should do just the opposite of what it has been doing since Mr Ed took over ?
I thought Sears dropped electronics departments. At least the full line stores here did years before they all closed.
Respectfully, Mr. Lampert take ownership in your venture. I don't mean just monetarily, but go out to your worst performing stores and walk the isles with store managers, and assistants. You have a terrible moral problem. But just like football games can be won in the last ten minutes by the losing team you can too. Meet with Brian Sozzi from Yahoo finance and chrush him. What are home Depot and Walmart doing.... We have to define who we are, look at our strengths and capitalize on them. Remember Mr. Lampert you have rural (SHOS) and metro (full line) stores; your gonna need everyone of those for footsteps. Go back to one website reincoperating FL, Hometown, and outlet as one. Once it's reincorperated start new with all of those footprints (shells) as the newco. Think of the birch tree. The group of trees share the same roots. The trees (physical stores) are the pretty part and the roots (dot-com) are what sustain and make it grow. Keep management to a minimum sending those cost savings to marketing, merchandising, and ground floor associates. We want the best sales staff we can afford. Amazon wants brick n morter... We ALREADY have it. Use each and every shell as a warehouse to create blazing fast delivery on key selling items stocking more than one. If you feel a strong hankering to SYW simlify it. Never use the word member, speed up checkout, understand the synergy of popular items like electronics and footsteps, every location selling appliances including the smaller Hometown lowers COST on that appliance driving margin up for the whole group. ...........Advertise on TV and Radio..........
New Dawn, I like most of your ideas but I think mattresses should remain due to their high profit margins, and electronics and furniture drive more people in if done right. We need an inviting selection in all of these departments, and significant improvements need to be made in these departments, electronics especially.
Made in USA section.
Quality work clothes, specialty softlines
Outdoor, camping, hiking, fishing section, etc.
Downsize most of the softlines
Add a homeowners hardware section.
Stay away from electronics.
Beef up the auto center, make sure every Sears AND KMART has one.
Everyday prices should be more inline with reality.
Make sure the stores are stocked appropriately. Quit with the one time SKU that leads to so many closeouts.
Get rid of furniture and mattresses.
Revamp the SYW program: 20% for employees, 10% for students, 10% for military and veterans, 10% for mothers of newborns, 5% for Platinium, 3% for Gold, 2% for Silver, 1% for SYW members.
NO FREECASH.
Sears' Lampert: We Have All The Customers We Need, Thanks
https://www.twice.com/post-type-publishthis/sears-lampert-we-have-all-customers-we-need-65019
Need a new CEO for one. Sears' once and future CEO doesn't believe in customer acquisition
Adverstise with a “we’re back” theme. Show the power of an integrated retailer with a nationwide partnership with hometown and outlet stores everywhere. Improve the app experience (have you seen target’s app???) invest in stores and make them bright, clean compelling places to shop and browse. Don’t need huge square footage but they should be bright, airy and attractive - this doesn’t take a ton of capital to do it right and get them cleaned up. Merchandise right - more hardlines - less softlines except essentials. DONT TRY TO BE WAL MART!!!! You’re not and never have been. The new format pilot stores are a great start.
The mindset needs to be “Your one stop shop for you and your home - app, online and in-store: essentials-services-hardlines - For the good life at a great price”
Closing sign might not be such a bad idea. I seen places that were going out of business for years.
Look at Lumber Liquidators. It's in their name (sort of).
I remember a store that used to be called Harbor Freight Salvage. Like they got their stuff from shipwrecks or something.
Maybe a new name like "Sears Salvage Liquidators Going Out Of Business" stores.
Just spit-ballin here.
Advertise?
Sears pushed away customers by pushing credit, shop your way, protection agreements.. Eddie only wanted members to shop at his stores. Well played Eddie.
Put a CLOSING Sign outside that usually draws them in.
For starters contact every customer that called corporate about sh--ty products, offer a 100% cash refund plus 100% in store credit. Then sell them a QUALITY product in a clean, modern store with good customer service.