End might be closer than we think.
http://www.msn.com/en-us/money/insi...bankrupt/ar-AAk604O?li=BBnb4R7&ocid=thanksDHP
http://www.msn.com/en-us/money/insi...bankrupt/ar-AAk604O?li=BBnb4R7&ocid=thanksDHP
Sears suppliers getting concerned
- Thread starter washman
- Start date
Forget Last Holiday Season LAST YEAR, it oughtta be THIS!
Sounds like Sears should just fold...
-- Dave
Sounds like Sears should just fold...
-- Dave
cycla-fabric
Well-known member
What a Shame
It's a shame that a once great company, is slowly going down. All the blame goes to the head guy Eddie Lampert or whoever the guy is. He has ruined a once great firm.
Doug
It's a shame that a once great company, is slowly going down. All the blame goes to the head guy Eddie Lampert or whoever the guy is. He has ruined a once great firm.
Doug
vacerator
Well-known member
Sears news paper add
had a patriotic Veterans day Kenmore top load washer/dryer set. The consoles are done up like American flags.
Look to be by Whirlpool. Collectors items? $379 each.
had a patriotic Veterans day Kenmore top load washer/dryer set. The consoles are done up like American flags.
Look to be by Whirlpool. Collectors items? $379 each.
That place was headed for the skids before Lampman was born. Starting in the 1970s, they tried more changes than a picky shopper at Loehmann's and none of them were flattering or successful. Sears started the Discover card and then got rid of it. It is a successful credit card even today. Poor Sears; it is sad for them.
Patriotic set
Probably not going to happen until 2018-19. They refinanced a lot of their debt until then. They've been forecasting this every year for years. They still own hundreds of stores that weren't part of the leaseback deal as well.
Kmart effectively died in the early 1990s.
My dad started shopping at Sears in the late 80s early 90s, it was dead then and dead now. I learned to shop at Sears for deals because of it. Literally everything I own that wasn't from a thrift store is from Sears.
The thing is their prices aren't bad, and most of the stores really aren't either and they're usually well stocked, they just need to find out how to generate foot traffic.
Kmart effectively died in the early 1990s.
My dad started shopping at Sears in the late 80s early 90s, it was dead then and dead now. I learned to shop at Sears for deals because of it. Literally everything I own that wasn't from a thrift store is from Sears.
The thing is their prices aren't bad, and most of the stores really aren't either and they're usually well stocked, they just need to find out how to generate foot traffic.
vacerator
Well-known member
It's possible,
but who knows. Times have changed. My dad was with Sears for 33 years and made a good living. He talked about the decline as far back as the early 90's. At one point, a Japanese real estate firm owned the Sears Tower. Now Willis of England does. Things didn't improve much when they divested Allsate insurance.
He retired in '95, and his group health plan was cancelled soon after.
He had a healthy retirement principle though because Sears had very good profit sharing until 1985, and they gave them a choice of a monthly pension or a lump sum.
but who knows. Times have changed. My dad was with Sears for 33 years and made a good living. He talked about the decline as far back as the early 90's. At one point, a Japanese real estate firm owned the Sears Tower. Now Willis of England does. Things didn't improve much when they divested Allsate insurance.
He retired in '95, and his group health plan was cancelled soon after.
He had a healthy retirement principle though because Sears had very good profit sharing until 1985, and they gave them a choice of a monthly pension or a lump sum.
iheartmaytag
Well-known member
I was in Dead-Mart last night
There was maybe five customers in the entire store. Odd for a K-Mart, there were quite a few employees running around stocking and rearranging.
One thing of notice, the pharmacy is gone, and the electronics section is gone save for a few display TVs that had not sold. Lots and lots of stuff in the isles to where you could hardly get the cart through.
I could hear the dinosaur's death rattle.
Prediction to Watch:
My brother was telling me from inside information that Wal-Mart will be closing quite a few stores after the new year. With online so dominate any more there is just not the volume of foot traffic to justify the brick and mortar stores that are so expensive to keep inventory, stock, and staff. Not to mention maintenance, and utility costs.
There was maybe five customers in the entire store. Odd for a K-Mart, there were quite a few employees running around stocking and rearranging.
One thing of notice, the pharmacy is gone, and the electronics section is gone save for a few display TVs that had not sold. Lots and lots of stuff in the isles to where you could hardly get the cart through.
I could hear the dinosaur's death rattle.
Prediction to Watch:
My brother was telling me from inside information that Wal-Mart will be closing quite a few stores after the new year. With online so dominate any more there is just not the volume of foot traffic to justify the brick and mortar stores that are so expensive to keep inventory, stock, and staff. Not to mention maintenance, and utility costs.
Lampert probably cannot wait for Sears to fold so he can sell off all that delicious real estate they hold across the nation.
Once the burden of running that husk of a company is over, he can mega cash in on the sales of all their corporate owned locations.
Once the burden of running that husk of a company is over, he can mega cash in on the sales of all their corporate owned locations.
vacerator
Well-known member
John,
I wonder how much real estate Sears Holdings still owns. There are empty stores in malls already from former anchors who closed.
I've seen Kroger buy one old K Mart, and tear it down to build a new store, yet other empty stores near other new Kroger's were passed over in favor of vacant lots. I guess it depends on the location and price how valuable existing space is.
I wonder how much real estate Sears Holdings still owns. There are empty stores in malls already from former anchors who closed.
I've seen Kroger buy one old K Mart, and tear it down to build a new store, yet other empty stores near other new Kroger's were passed over in favor of vacant lots. I guess it depends on the location and price how valuable existing space is.
bad to worse?
Not looking good. Not at all.
http://www.msn.com/en-us/money/comp...-company/ar-AAl68O8?li=BBnbfcL&ocid=thanksDHP
Not looking good. Not at all.
http://www.msn.com/en-us/money/comp...-company/ar-AAl68O8?li=BBnbfcL&ocid=thanksDHP
One thing that has always struck me about the outlet stores, the ones around here (we don't even have a "regular" Sears anymore) is how beat up the merchandise is. All of the appliances have dents and scratches, some of them severe. It seems as if they are losing a lot of money by damaging merchandise before it ever reaches the consumer - what is going on in their warehouses?
It's not just Sears, I bought a Whirlpool range hood from Lowe's for remodeling mom's kitchen and when I took it out of the box, it looked as if someone had jumped on it - and it wasn't me! I was able to return it, but the girl at the return desk told me when I get the new one, to be sure to open it before I leave to be sure it is not damaged. I guess I have to do that with everything now.
It's not just Sears, I bought a Whirlpool range hood from Lowe's for remodeling mom's kitchen and when I took it out of the box, it looked as if someone had jumped on it - and it wasn't me! I was able to return it, but the girl at the return desk told me when I get the new one, to be sure to open it before I leave to be sure it is not damaged. I guess I have to do that with everything now.
It wouldn't surprise me if they go under. It's hit-or-miss when you go into any one of their stores. Their store in Austin was one of the filthiest, nasty, stores I ever walked into, was embarrassed anyone saw me go in there. Merchandise never saw a dust rag ever. The big store in San Antonio is much better, cleaner, but merchandise is poorly organized and displayed. It has a discount store feeling to it. Sad.
vacerator
Well-known member
Cosnidering
all of the former stores which have gone defunct, nothing surprises me.
Even the large conglomerates are struggling in leu of online shopping and big box store competition.
Even Best Buy was in trouble, but now they offer higher end appliances to broaden their market reach and compete with smaller high end shops.
all of the former stores which have gone defunct, nothing surprises me.
Even the large conglomerates are struggling in leu of online shopping and big box store competition.
Even Best Buy was in trouble, but now they offer higher end appliances to broaden their market reach and compete with smaller high end shops.
Saw this article this morning. Normally I don't recommend Salon, but this seems to be an objective piece.
http://www.salon.com/2016/12/09/sea...bit-for-our-least-essential-department-store/
http://www.salon.com/2016/12/09/sea...bit-for-our-least-essential-department-store/
Well, what do we expect?
They began treating their employees like dirt and, surprise, surprise, they're going down the same road as Circuit City.
Our local K-Mart has a young (cute, too) manager who treats his staff well. They have discretionary powers absolutely unheard of at other K-Marts. Great sales, clean store, well-stocked and friendly.
Our local Sears is a hell-hole from Calcutta in which I refuse to set a foot. Went there with friend to buy tires a few years back. They told her they don't carry parts for 'them thar' foreign cars'. Literally.
Lousy management, lousy employees, dirty store - no way in Hell I'll ever buy anything from them when the K-Mart right around the corner can get me the same products in 24 hour turn-around. Oh, yeah - they go to the local distribution warehouse for their Sears' products because the local Sears store intentionally sends them damaged goods or lies and says the don't have products in inventory which they have.
Once upon a time, Sears had great products at good prices. Today, they're a mess.
They began treating their employees like dirt and, surprise, surprise, they're going down the same road as Circuit City.
Our local K-Mart has a young (cute, too) manager who treats his staff well. They have discretionary powers absolutely unheard of at other K-Marts. Great sales, clean store, well-stocked and friendly.
Our local Sears is a hell-hole from Calcutta in which I refuse to set a foot. Went there with friend to buy tires a few years back. They told her they don't carry parts for 'them thar' foreign cars'. Literally.
Lousy management, lousy employees, dirty store - no way in Hell I'll ever buy anything from them when the K-Mart right around the corner can get me the same products in 24 hour turn-around. Oh, yeah - they go to the local distribution warehouse for their Sears' products because the local Sears store intentionally sends them damaged goods or lies and says the don't have products in inventory which they have.
Once upon a time, Sears had great products at good prices. Today, they're a mess.
vacerator
Well-known member
Just try
running things without bean counters.
Some are dishonest, like any other professional.
Bad management may be more to blame. They are not the bean counters.
A bean counter does your taxes, actuaries estimate and compound data all day long for numerous things.
Some say run the Govt. like a business, well last decade many went belly up and had to be bailed out, including the next guy at the helm of it all 4 times.
Stay tuned.
Up here, anything non union made is mainly bought by union people. They make more, and thus spend more, and can afford to save more. Their benefits are better, and that trickles up to salaried people in the same industry.
Bust the rest of them down and watch what happens to the economy.
They are already trying to make state police, etc. pay 25% more of their healthcare. Thanks for risking their lives everyday to provide for their families.
running things without bean counters.
Some are dishonest, like any other professional.
Bad management may be more to blame. They are not the bean counters.
A bean counter does your taxes, actuaries estimate and compound data all day long for numerous things.
Some say run the Govt. like a business, well last decade many went belly up and had to be bailed out, including the next guy at the helm of it all 4 times.
Stay tuned.
Up here, anything non union made is mainly bought by union people. They make more, and thus spend more, and can afford to save more. Their benefits are better, and that trickles up to salaried people in the same industry.
Bust the rest of them down and watch what happens to the economy.
They are already trying to make state police, etc. pay 25% more of their healthcare. Thanks for risking their lives everyday to provide for their families.
The only thing a beancounter should be allowed to do is count the money, provide the results to the CEO then go back to their ledgers and spreadsheets. They should never be in a position to make overall corporate policy.
It was a beancounter that was running things at my company when we posted a $131 million loss.
Lynn Townsend/John Ricardo ran Chrysler for 14 years.........almost into the ground.
Roger Smith took over a prosperous GM and when he left, it had the most undesirable lineup of cars and the worst quality of ANY automaker on the planet.
True one needs beancounters but let's be clear, they have their role and it should never include actually running a company.
It was a beancounter that was running things at my company when we posted a $131 million loss.
Lynn Townsend/John Ricardo ran Chrysler for 14 years.........almost into the ground.
Roger Smith took over a prosperous GM and when he left, it had the most undesirable lineup of cars and the worst quality of ANY automaker on the planet.
True one needs beancounters but let's be clear, they have their role and it should never include actually running a company.
vacerator
Well-known member
Lynn Townsend
also known as hatchet man Tex. He trimmed the fat alright, and lost all the best to Ford and GM. Chrysler was having it's own depression in the mid and late 50's when 1957 was a mild recession.
Chrysler had no one left to address the quality problems they were having.
Thanks to Virgil Exner, and unibody design consolidation and the new Plymouth Valiant and Dodge Lancer compacts, things improved through the late 70's. By 1964, Chrysler was building darn good cars again.
The best thing Henry Ford II did for Chrysler was fire Lee Iacoca.
Lee is/was also a bean counter. Business degreed, but he also knew the car business.
I read his books, and adapted some of his concepts to my career. Like satisfy the customer, the money keeps the lines moving, and the lines keep the money moving too. I though Lee was the last of a breed, until Sergio Marccioni came along.
also known as hatchet man Tex. He trimmed the fat alright, and lost all the best to Ford and GM. Chrysler was having it's own depression in the mid and late 50's when 1957 was a mild recession.
Chrysler had no one left to address the quality problems they were having.
Thanks to Virgil Exner, and unibody design consolidation and the new Plymouth Valiant and Dodge Lancer compacts, things improved through the late 70's. By 1964, Chrysler was building darn good cars again.
The best thing Henry Ford II did for Chrysler was fire Lee Iacoca.
Lee is/was also a bean counter. Business degreed, but he also knew the car business.
I read his books, and adapted some of his concepts to my career. Like satisfy the customer, the money keeps the lines moving, and the lines keep the money moving too. I though Lee was the last of a breed, until Sergio Marccioni came along.
The accountants in conjunction with the COO work to reduce costs and increase profit. These cost reductions effect quality of goods and store operations. Lack of staff or ridiculous company policies are rarely to blame of the store management.
A company I used to work for almost never thought of specific location issues when rolling out policies. For example, one policy was to lock all lobby doors when the box office closed. The specific theater didn't have panic bars on the inside of the doors. Therefore, it would have been a violation of fire code to follow company policy.
There were also numerous difficulties with our point of sale software. My boss resorted to making a video of a him acting as a customer and going through various types of transactions. This video was then sent to the various persons responsible for our disaster software.
A company I used to work for almost never thought of specific location issues when rolling out policies. For example, one policy was to lock all lobby doors when the box office closed. The specific theater didn't have panic bars on the inside of the doors. Therefore, it would have been a violation of fire code to follow company policy.
There were also numerous difficulties with our point of sale software. My boss resorted to making a video of a him acting as a customer and going through various types of transactions. This video was then sent to the various persons responsible for our disaster software.
I love the American flag the same way I love the USA with all my heart.
I saw that washer at Sears a couple of nights ago and the only thing i could think was "OMFG, this is the ugliest washer I've ever seen in my whole life".
I seriously think it was an insult to the Star Spangled Banner.
I saw that washer at Sears a couple of nights ago and the only thing i could think was "OMFG, this is the ugliest washer I've ever seen in my whole life".
I seriously think it was an insult to the Star Spangled Banner.
Just gets better and better
Link below but can anyone interpret the harvard biz school babble from Jason Hollar, the CFO?
"Our focus on generating positive EBITDA continues," the CFO said. "We do not intend to borrow money to fund continued operating losses, but rather to provide us with flexibility as we transition to an asset-light member-centric integrated retailer leveraging our Shop Your Way program."
asset-light?
member-centric?
Buehler?
http://www.msn.com/en-us/money/insi...nd-sales/ar-AAlmmeR?li=BBnbfcN&ocid=thanksDHP
Link below but can anyone interpret the harvard biz school babble from Jason Hollar, the CFO?
"Our focus on generating positive EBITDA continues," the CFO said. "We do not intend to borrow money to fund continued operating losses, but rather to provide us with flexibility as we transition to an asset-light member-centric integrated retailer leveraging our Shop Your Way program."
asset-light?
member-centric?
Buehler?
http://www.msn.com/en-us/money/insi...nd-sales/ar-AAlmmeR?li=BBnbfcN&ocid=thanksDHP
dartman
Well-known member
I bought our he washer from Sears as a demo at their outlet store in 2013 when I got my first decent refund from buying this house. Full warranty, delivered and setup, under 600 bucks, plus a Whirlpool design that should be cheap and easy to fix down the road. Did the same the next year with a dryer. They were on sale, gave a better discount for using their card and don't care if they fold as parts should be easily available and cheap for years from Whirlpool.
I liked their craftsman tools and all of mine are us made. I hope somebody gets smart and takes them back to what they used to be and I never buy anything just becuase of a warranty, it has to be good bang per buck and reliable once the money gets up there.
I haven't been in the regular sears store for a while but the outlet stores always are busy and have deals and plenty of actually helpful staff.
I liked their craftsman tools and all of mine are us made. I hope somebody gets smart and takes them back to what they used to be and I never buy anything just becuase of a warranty, it has to be good bang per buck and reliable once the money gets up there.
I haven't been in the regular sears store for a while but the outlet stores always are busy and have deals and plenty of actually helpful staff.
While store management can't
Change asinine company policies, a local manager sure can and does make the difference between clean and pleasant and dirty and mean-spirited.
An on the ball manager (as is ours here at K-Mart) can also leverage what little discretion they do have to improve sales.
I was just finishing a bid on a largish project yesterday when a good client called. Could I help her break into one of their properties? Tenants had changed the locks then left and she had to check for frozen pipes (we've warmed up, only -15 F the night before).
Now, my normal procedure is:
1) I let the client know (got a written form for it and they sign in advance) about liability, damage, etc.
2) Call the cops in advance so I don't get shot when some nosy-parker turns me in (and there's always one, even on the prairie).
3) Charge solidly for it - local lockshops charge $300, plus new locks. I don't go that high, but you're gonna pay for me to fall in through your window or whatever.
So, I get out to her and she's half-froze, 11 months pregnant with twin cows and her car won't start. I put her in my car, walk around the house, find a window unlocked and bob's your auntie.
No frozen pipes.
And, no bill. It's called customer service. Generating that intangible (and, to CFO's, unthinkable) thing called: Goodwill.
She ends the year with me happy and I end the year with a good, paying customer knowing I'll be there in a pinch.
This is what I meant about local discretion. It can't cover for a rotten company, Sears is beyond hope, but it can enhance customer loyalty - another word for profit.
Change asinine company policies, a local manager sure can and does make the difference between clean and pleasant and dirty and mean-spirited.
An on the ball manager (as is ours here at K-Mart) can also leverage what little discretion they do have to improve sales.
I was just finishing a bid on a largish project yesterday when a good client called. Could I help her break into one of their properties? Tenants had changed the locks then left and she had to check for frozen pipes (we've warmed up, only -15 F the night before).
Now, my normal procedure is:
1) I let the client know (got a written form for it and they sign in advance) about liability, damage, etc.
2) Call the cops in advance so I don't get shot when some nosy-parker turns me in (and there's always one, even on the prairie).
3) Charge solidly for it - local lockshops charge $300, plus new locks. I don't go that high, but you're gonna pay for me to fall in through your window or whatever.
So, I get out to her and she's half-froze, 11 months pregnant with twin cows and her car won't start. I put her in my car, walk around the house, find a window unlocked and bob's your auntie.
No frozen pipes.
And, no bill. It's called customer service. Generating that intangible (and, to CFO's, unthinkable) thing called: Goodwill.
She ends the year with me happy and I end the year with a good, paying customer knowing I'll be there in a pinch.
This is what I meant about local discretion. It can't cover for a rotten company, Sears is beyond hope, but it can enhance customer loyalty - another word for profit.
Good friends opened one of those Sears Hometown stores in the next city. Everything was going fine until that jerk came into power. No more commissions on anything but the top of the line items and being called on the carpet for not forcing people to buy what they did not want. Flat $25 delivery payment, even if it was 100 miles away. Constant idiotic revisions of floorplans and store layouts. Last straw was that they MUST spend $2500 for a new sign for the front of the store, all in lower case as sears felt capital letters were shouting. They pulled out and have yet to settle with Sears on the money rightfully owed them. Since they were treated so horribly, I have never set foot in a Sears store sincce.
fan-of-fans
Well-known member
Both the Kmart and Sears stores here are clean and well organized. I haven't noticed any changes there over the years. I do notice both are not as heavily staffed as they once were but that has been going on for a long time in those two stores. The stores are also well stocked.
My parents recently bought a new Kenmore refrigerator to replace their old one. The employees in the store were helpful and they received an email and phone call to what time to expect the delivery the next day. The call and email came rather late in the evening but the delivery was right on time. They also got free delivery, but I don't recall if they connected the water line or not.
My parents recently bought a new Kenmore refrigerator to replace their old one. The employees in the store were helpful and they received an email and phone call to what time to expect the delivery the next day. The call and email came rather late in the evening but the delivery was right on time. They also got free delivery, but I don't recall if they connected the water line or not.
laundromat
Well-known member
Sears here is like a ghost town. In going there tomorrow tovpick up a Frigidaire front loading washer and dryer. The Kenmores here died a horrible death from exposure to the elements and the washer no longer spins. It's frozen. The new setvwas marked down to $699. I chewed them down to $400 and free delivery.
lordkenmore
Well-known member
I'm trying to remember the last time I went shopping at Sears. It's been more than 10 years since I think I bought anything there (and I bought a screwdriver I couldn't find easily elsewhere). I think I've browsed the store a few times, but I end up feeling that I can do as well or better elsewhere.
This is not new. It's interesting, but my parents must have shopped at Sears at least a few times, since a washer and dryer came from there. But later on, Sears was just not part of the routine shopping experience. I think I recall my mother going there a couple of times ca. 1990. It was funny, but I remember my mother telling the clerk how great the old Kenmore washer was. And then, later, privately admitting to me she really had no interest in ever buying a new washer from Sears.
This is not new. It's interesting, but my parents must have shopped at Sears at least a few times, since a washer and dryer came from there. But later on, Sears was just not part of the routine shopping experience. I think I recall my mother going there a couple of times ca. 1990. It was funny, but I remember my mother telling the clerk how great the old Kenmore washer was. And then, later, privately admitting to me she really had no interest in ever buying a new washer from Sears.
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