941 stores may be "impressive"
but 2,600 are a helluva lot more impressive.
It's a matter of time; there really were so-called "synergies" when Kmart gobbled up sears other than boosting the price of the stock.
The store's (yes even the one in my town) are old, decrepit, staffed by shellshocked zombies that gave up a long time ago, empty shelves, 1 perhaps 2 check out lines open. yep, I'm going to spend my hard earned money and scarce time in there. I think NOT!
Emptying the stockroom as part of P2P is a crock of bullshit at best. I find it amazing the corporate flack hired even said it as such. Even worse is he expects us to believe it.
My old store in Bloomington was BUSY! The garden shop alone was a license to print money yet it was closed. The auto center always had customers. We sold ammo and hunting licenses like no tomorrow.
I'd say 700-800 stores will remain by year end. Come 2017 keep your ears tuned in for another "announcement" from Eddie himself for another turn around plan, another line of credit secured from some hapless bank, more cutbacks, more closings. Eddie does not seem to get that you cannot "cut" your way to profitability. You have to have customers to sustain ANY business model yet that basic fact seems to elude him. If SHLD has yet another crappy holiday season, the end might even come sooner. Right now, imported crap from China should be just about into all the stores in preparation for the upcoming holiday season.
Sad thing is, the more that Kmart requires in terms of investment the less they seem to put into the business. That is a recipe for disaster and ultimately, shutdown.
but 2,600 are a helluva lot more impressive.
It's a matter of time; there really were so-called "synergies" when Kmart gobbled up sears other than boosting the price of the stock.
The store's (yes even the one in my town) are old, decrepit, staffed by shellshocked zombies that gave up a long time ago, empty shelves, 1 perhaps 2 check out lines open. yep, I'm going to spend my hard earned money and scarce time in there. I think NOT!
Emptying the stockroom as part of P2P is a crock of bullshit at best. I find it amazing the corporate flack hired even said it as such. Even worse is he expects us to believe it.
My old store in Bloomington was BUSY! The garden shop alone was a license to print money yet it was closed. The auto center always had customers. We sold ammo and hunting licenses like no tomorrow.
I'd say 700-800 stores will remain by year end. Come 2017 keep your ears tuned in for another "announcement" from Eddie himself for another turn around plan, another line of credit secured from some hapless bank, more cutbacks, more closings. Eddie does not seem to get that you cannot "cut" your way to profitability. You have to have customers to sustain ANY business model yet that basic fact seems to elude him. If SHLD has yet another crappy holiday season, the end might even come sooner. Right now, imported crap from China should be just about into all the stores in preparation for the upcoming holiday season.
Sad thing is, the more that Kmart requires in terms of investment the less they seem to put into the business. That is a recipe for disaster and ultimately, shutdown.
It's going to hang in my garage.
