Won't be a happy new year for Sears / Kmart

[NextExit]

What a shame... the downward spiral continues.  Stocks down over 30%, thousands of jobs gone and it doesn't get any better:

 

http://consumerist.com/2014/12/05/sears-holdings-admits-plans-to-close-105-more-stores-wont-say-which-ones/

 

I remember working at Kmart back in my high school days.  It was a great place to work.  Part time and they still gave me benefits. Terrific people including management.  My break time was spent hanging out in the K-Grill :yum:  It was always fun pushing that "Blue Light Special" cart and a bunch of old ladies following me asking "where are you going? what's the special?" :D

Don't know where they went wrong but I'm sure soon we'll be left with just Walmart and Target.  :meh:

 

[10-Ring]

I wasted 5 years of my life at Sears.  2005-2010, so I was there for the tail end of when they were a good company.  They begged me not to leave when I did, then they eliminated my position, and then closed my store.  I had seen the writing on the wall and knew I needed to do something else, and fast.  No regrets. 

 

That said Sears was at one time in my opinion a piece of Americana.  Sears catalogs, Craftsmen tools, etc.  Those days are all long gone, that's over, it's nothing but a company that is on life support and nothing but a tax write off for the more profitable sectors of the conglomerate that it is a part of.  I remember the day that I got an email from corporate outlining how to explain to customers, when we were asked, why Craftsman tools are now being made in China.  That was when I really knew that it was over.

[Wyldk2]

It's a shame when corporate greed has driven the manufacture of Branded "Made in America" goods that we have known for quality to be made in a foreign country. Just to save a buck.

 

But i read somewhere that some once made in china companies are slowly moving back to the good ole USA, some to Mexico though. Mainly to save on shipping costs.

 

I remember going to Sears when at (Hickory Hollow), Yeah, a long time ago. Back when the tool and mens section was on one floor and the womens section was on another. Then the womens section took over.

 

But thankfully I got my "Made in USA" tools before they switched over to China crap.

[10-Ring]

 

But thankfully I got my "Made in USA" tools before they switched over to China crap.

 

What really ticked me off about that is when I break my finely crafted American made tool, they replace it with one made of Chinese pot metal.

[MacGyver]

Sears has really been a financial company masquerading as a retail store for the last decade. If you look at any of their recent earnings statements, you'll see that they made more off of interest on their cards than they did profit on goods sold. So really, thei stores just became a convenient vehicle to push their credit card.

They lost me as a customer when they refused to warranty a wrench that was cracked straight from the package. They claimed I must have abused it, even though I produced a receipt from a few hours earlier and simply wanted to replace it. At that point, I figure there's no difference between craftsman and a kobalt or similar, so I walked out and haven't been back.

Word is their current investor "loaned" them the $400 million they needed to purchase inventory for the holidays leveraged against their real estate.

Like Radio Shack, I expect this'll be their final Christmas.

[runco]

You know it is not corp. greed, its what the consumer wants!  What drove people away from Kmart and Sears, or should I say what did Wal-Mart, Lowes, Home Depot, and other similar big box stores do that attracted consumers away?  Retailers have to have vision, and learn buying trends of us consumers.    I bet Sears in its hey day sure put alot of mom and pop local hardwares out of business.  The winner is the consumer, but the loser is the jobs. 

 

Even with my full convert to Walmart, I still use my smartphone to buy cheaper online each every time I find myself needing something from Walmart.  Walmart itself is not immune, it needs to find away to compete with those online retailers too.  What if Sears and Kmart had adopted the Amazon model years ago, and used the brick and mortar stores as display stores, it might even be making some Walmart stores close today. 

 

At some point, what am I going to do with my lifetime warranty on my $1000 and $1000 of Craftsman tools?  I guess I need to get use to Kobalt tools at some point.  Those Harbor Freight tools are one time use junk (but cheap :pleased: ).

[btq96r]

You can't run a business on nostalgia.  I have fond memories of Sears as a kid, but today, they just don't offer the variety or deals that can compete with the rest of the market.

[Spots]

You can't run a business on nostalgia.  I have fond memories of Sears as a kid, but today, they just don't offer the variety or deals that can compete with the rest of the market.

 

Why not? Every 1911 manufacturer out there has been doing it for years. :stir:

[Patton]

I am surprised that they have hung in there this long. I walked through the Northgate Sears a few days ago and I was surprised that there were not cobwebs across the isles. The clothing, footwear, and jewelry all looked like it had been there for years and was out of date. In fact my wife found the same dress priced at half the price at Belk compared to Sears. I don't think I could have found something to buy in Sears with someone else's money.

[Mike A]

Sears has really been a financial company masquerading as a retail store for the last decade. 

IMHO, money lending has been a major component of their business a lot longer than 10 years.  Before probably the mid-'80s people with no credit history and / or lower incomes couldn't usually qualify for a Visa or other bank card.  Sears built an empire by extending credit to young folks.  Lots of new households got fitted out with Kenmore appliances and the like.  I think when banks started issuing cards that allowed those same folks to take their business elsewhere that was really the proverbial beginning of the end.

 

In fairness, back in the day, Sears brands were mostly above average in quality.  I'd suggest that the quality of their products didn't really start suffering until easier credit started facilitating the purchase of lower priced albeit inferior goods at the big box discount stores.  Not to say they didn't make mistakes but I also suspect they found themselves playing a new game they couldn't win.

 

At the risk of sounding elitist, I believe as consumers we get what we show the manufacturers and retailers we value.  If you show 'em you're willing to sacrifice quality to save a buck, you get shoddy goods.  If you're willing to deal with indifferent employees to save 12 cents on a bottle of shampoo, you get poor customer service, etc. ad nauseum.

 

My $0.02.         

[JWC]

What really ticked me off about that is when I break my finely crafted American made tool, they replace it with one made of Chinese pot metal.

What ticked me off is when they act like Craftsman stuff is still American made and live on their history and keep the same prices while selling the same chicom crap you can get at harbor freight.

The way around breaking a tool and having it replaced with chinaman tool is to just buy vintage craftsman at estate sales if you like em. Then you just scrap whatever you break. Personally I hate their raised panel wrenches and I think their ratchets are horrible but I buy the stuff cause I'm like a tool hoarder esp when it comes to estate sales.

There are better American made tools for a non-professional mechanic anyway, without ever buying off a truck. Wilde, Wright, Mayhew, Williams, Estwing, are all examples. Or buy some German. Once you try Wera screwdrivers, craftsman (although actually one of the few things still usa) really suck balls. And with modern-day shipping and communications it's about more convenient to warranty swap something over the phone or internet then pick it up in your mailbox 3 days later. Sure beats going to a mall, to me anyway.

If American made isn't a top priority then I gotta say kobalt, and gearwrench beat the piss outta craftsman mechanics tools. Mainly cause they're a lot made in Taiwan and Taiwan tools is far superior to China tools.


But yeah Sears should just die already.


Sent from my iPhone using Tapatalk

[Dustbuster]

Why not? Every 1911 manufacturer out there has been doing it for years. :stir:

Spots get on the quarterdeck
Push-ups begin!

[NextExit]

Like Radio Shack, I expect this'll be their final Christmas.

Radio Shack is nothing but a glorified cell phone store.  Times have changed.  Gone is their selection of car & home stereos, tv's, kits, etc.  But they still ask you if you need batteries! :-\

Last time I went in, the kid asked me if I needed help and I said sure... I need some capacitors for the power supply on my Swan 350.  I got a deer in the head lights look.

I think you're right, Rat Shack is next.  Sears will go the way of Montgomery Wards.  JCPenney will be next.

I miss competition.  Growing up in the NE we had Ames, Bradlees, Jamesway, Caldor, Two-Guys.... all long gone.  Now it's just Walmart, Target, or shop online.

[Monkeyman2500]

Radio Shack is nothing but a glorified cell phone store. Times have changed. Gone is their selection of car & home stereos, tv's, kits, etc. But they still ask you if you need batteries! :-\
Last time I went in, the kid asked me if I needed help and I said sure... I need some capacitors for the power supply on my Swan 350. I got a deer in the head lights look.
I think you're right, Rat Shack is next. Sears will go the way of Montgomery Wards. JCPenney will be next.
I miss competition. Growing up in the NE we had Ames, Bradlees, Jamesway, Caldor, Two-Guys.... all long gone. Now it's just Walmart, Target, or shop online.

Yep, I went to Radio Shack a while back after not being there for a few years. Needed some special wire connectors. They had the same old junk Home Depot sells.

[Guest]

What ticked me off is when they act like Craftsman stuff is still American made and live on their history and keep the same prices while selling the same chicom crap you can get at harbor freight.

Yep, once they did that, I was done with Sears. Not to mention their cash registers must be 1980s tech and it takes 27 minutes to check out, assuming you can find a clerk....

I went to return a NIB wrench set once I realized it was hecho en chine, explained to the lady I was tricked and it wasn't craftsman, and she insisted that it was craftsman because the label said so. "craftsman makes some stuff in China." She did give the refund though.

I have bought one Wright breaker bar so far and haven't really used it, but the quality looks great. Lifetime warranty from a company still produced 100% in USA. And they serve industries so I assume their stuff will stay good quality.

[JohnC]

It's a shame when corporate greed has driven the manufacture of Branded "Made in America" goods that we have known for quality to be made in a foreign country. Just to save a buck.
 
But i read somewhere that some once made in china companies are slowly moving back to the good ole USA, some to Mexico though. Mainly to save on shipping costs.
 
I remember going to Sears when at (Hickory Hollow), Yeah, a long time ago. Back when the tool and mens section was on one floor and the womens section was on another. Then the womens section took over.
 
But thankfully I got my "Made in USA" tools before they switched over to China crap.

Corporate greed?

I agree not all Corps are good, but there is a lot more to the equation than just corp greed.

Remember when good ol' Bill Clinton signed NAFTA? Recall the steel workers losing their jobs over night and then getting rusty Russian steel off the boat in the place of US made steel?

They told us we wouldn't lose jobs and it would open the door for more companies to move to America from foreign lands, but the opposite has occurred because American labor costs much more than Mexico, China and India, where they making most of our "stuff" now.

You see, it's like Socialism, just think in Global terms here. They have to bring us down, the value of the USD, our pay, lifestyle, wealth, etc., so the rest of the world can get a slice. It is all by design via the UN globalists types running the show.

Take it fwiw. Edited December 15, 2014 by JohnC

[btq96r]

Corporate greed?

I agree not all Corps are good, but there is a lot more to the equation than just corp greed.

Remember when good ol' Bill Clinton signed NAFTA? Recall the steel workers losing their jobs over night and then getting rusty Russian steel off the boat in the place of US made steel?

They told us we wouldn't lose jobs and it would open the door for more companies to move to America from foreign lands, but the opposite has occurred because American labor costs much more than Mexico, China and India, where they making most of our "stuff" now.

You see, it's like Socialism, just think in Global terms here. They have to bring us down, the value of the USD, our pay, lifestyle, wealth, etc., so the rest of the world can get a slice. It is all by design via the UN globalists types running the show.

Take it fwiw.

 

Cooperate greed and NAFTA went hand in hand.  The U.S. Chamber of Commerce was all about NAFTA, while the unions and most Democrats were against it.  President Clinton was always chummy with big business and the financial sector.  He was only able to get the ratification of NAFTA passed with more Republican votes than Democratic ones in favor of it.

 

https://www.govtrack.us/congress/votes/103-1993/h575

https://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=103&session=1&vote=00395

 

It's not global socialism so much as big business and the banks needed to remove pesky laws that prevented them from establishing operations in cheaper markets overseas to increase profits for the HQ back home.  American jobs and businesses that were built in America like Sears are just the collateral damage of us being in a global economy for the benefit of big business and banks.

Edited December 15, 2014 by btq96r

[enfield]

I quit Sears years ago for the same reason I quit Kmart - piss-poor customer service.

I won't be sad to see Kmart die - they earned it.

[peejman]

I worked at Sears through the 90's.  Not a bad job for a high school kid to make money to immediately be wasted on girlfriends.  Thankfully, I worked in the stock room unloading trucks and stocking the sales floor at 6am instead of having to be a salesman.  We certainly had some fun... like the time an armored truck guy nearly drew his gun on me...  :eek:

 

I do recall having a big meeting where the store manager told us that this was the first year in Sears history where they lost money.  At the time Sears also owned a big insurance company (Nationwide?) and a hurricane had blasted central Florida.  The insurance claims had put the company in the red.  Seems that was the first of many to come. 

 

And I'll echo a few other folks sentiments...  Yes, they made most of their money off the credit card.  Yes, the Sears catalog seems like a piece of Americana and it's sad to see it go.  Yes, customer service has gone completely to shit in the last few years.

[R_Bert]

Radio Shack is nothing but a glorified cell phone store.  Times have changed.  Gone is their selection of car & home stereos, tv's, kits, etc.  But they still ask you if you need batteries! :-\

Last time I went in, the kid asked me if I needed help and I said sure... I need some capacitors for the power supply on my Swan 350.  I got a deer in the head lights look.

I think you're right, Rat Shack is next.  Sears will go the way of Montgomery Wards.  JCPenney will be next.

I miss competition.  Growing up in the NE we had Ames, Bradlees, Jamesway, Caldor, Two-Guys.... all long gone.  Now it's just Walmart, Target, or shop online.

A real radio guy!

 

When I stocked the Clinton Radio Shack back in the 70's, those would have been on the hangers.

[Grand Torino]

The demise of Sears and other stores is all part of the steady decline of America. It shouldn't be much longer before we turn into a third world banana republic.

[Ted S.]

When America votes with their money, they tend to vote agains American jobs. :usa:

[tnguy]

Many Americans* have had a sense of entitlement and have joined unions (which forces the cost of wages and hence employing American workers up) and voted in governments with ever-increasing spending plans (which pushes taxes up which forces the cost of employing American workers up). This is what you get.

 

 

 

(*Not just Americans, this is an epidemic across the west).

[Wyldk2]

Everyone wants something for nothing, Or paying less for something. The corporate entities see this and can raise their profits for said items by shipping jobs that were once held here in america over to china, Mexico and other foreign(cheap labor) countries. Since everyone here in america wants to be paid a lot more than minimum wage. It's just like those workers at Mcdonalds who want $15 per hour, does that mean a hamburger will go up in price? Maybe, maybe not.

[btq96r]

Many Americans* have had a sense of entitlement and have joined unions (which forces the cost of wages and hence employing American workers up)

 

If by "many Americans," you mean less than 20% and declining every year for a generation.  Hardly enough to cause the troubles we have.  Hell, if you overlap the timelines, the decline of American unions and the rise of globalization in our economy seem to be related. 

 

But hey, as long as the Chamber of Commerce and the Wall Street firms are happy, the establishment politicians on both sides are all about it.