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Wed Dec 30, 2020, 04:54 PM

Sears is Dieing a Grim Invisible Death: CNN Business

https://www.cnn.com/2020/12/29/business/sears-grim-future/index.html


New York (CNN Business) Sears has made it through another holiday shopping season. Just barely.

Once the nation's leading retailer up through the 1980s, the company that now owns the Sears and Kmart chains emerged from bankruptcy less than two years ago. It avoided another trip to bankruptcy court this year as the Covid-19 pandemic sent department store chains such as JCPenney and Neiman Marcus through their own bankruptcies, while others such as Lord & Taylor and Century 21 announced they would go out of business.

But the fact that Sears isn't in bankruptcy is not a sign of health, according to experts. The company has made little effort to reinvigorate stores, grow sales or turn its failing business around. It's possible Sears would have gone out of business already this year, except the commercial real estate business has gone belly-up, and Sears would probably find few -- if any -- suitable offers for its assets.

"Everything is up for grabs. But of course, there is no market for department stores," said Mark Cohen, the director of retail studies at Columbia University, a former Sears executive himself. "They are, for all intent and purposes, done."

With no viable exit-strategy, both Sears and Kmart are slowly, quietly dying. They're closing stores where possible and listing virtually all of other locations with commercial real estate brokers

(rest of article at link above)

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Reply Sears is Dieing a Grim Invisible Death: CNN Business (Original post)
Stuart G Dec 2020 OP
Delarage Dec 2020 #1
TreasonousBastard Dec 2020 #2
apcalc Dec 2020 #3
yellowdogintexas Dec 2020 #5
onetexan Dec 2020 #6
Lasher Dec 2020 #4

Response to Stuart G (Original post)

Wed Dec 30, 2020, 05:16 PM

1. That's sad

The closest Kmart left near me is in Lancaster Pennsylvania. I went there about a month ago and it looked pretty sparsely supplied. Kmart in Newark DE was my first job and I always liked Sears. Horrible management and they got taken over by vultures. How do you blow Craftsman, Kenmore, Weatherbeater, etc...all one-time iconic brands

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Response to Delarage (Reply #1)

Wed Dec 30, 2020, 05:37 PM

2. I always liked Kmart-- usually better prices and selection than the WalMart around the corner...

But, in its final years it was threadbare and generally dingy. It was like they just didn't give a damn and the point was to sell it all off for the RE values.

The Target down the road had higher prices, but when you walked in, it looked like they wanted you in there.

This kinda thing happens when you put the money guys in charge of things-- they just don't know how things work. And they are always tempted to sell off the good parts to themselves and their friends.

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Response to Stuart G (Original post)

Wed Dec 30, 2020, 06:31 PM

3. I like Kenmore appliances. Bummer.

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Response to apcalc (Reply #3)

Thu Dec 31, 2020, 01:12 AM

5. So do I

I hope I do not need any appliances any time soon.

My washer/dryer, dishwasher and refrigerator are all Kenmore

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Response to yellowdogintexas (Reply #5)

Thu Dec 31, 2020, 10:28 AM

6. I've said for a long time now that Sears really needs to stick to just hardware & appliances

given that was their money makers and not dabble in household goods, clothing, & other fluff stuff.
I had a basic 29" Kenmore fridge that lasted us 23 years. When we sold our previous home it was leaking a bit and ice maker had stopped working but still working great so the buyers asked us to leave it for them.

These new digital fridges by LG, Samsung, etc. are expensive, expensive to repair & don't last. For our new house we got a new Frigidaire without the digital features & it works great.

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Response to Stuart G (Original post)

Wed Dec 30, 2020, 08:43 PM

4. It's ironic

Back in the olden days the Sears & Roebuck catalog gave people a chance to order a seemingly endless variety of goods at competitive prices, to be delivered right to their doorsteps. This could not have bode well for local retailers. Now brick & mortar outlets, including Sears, are suffering the same fate.

The only thing truly perpetual is change.

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