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Is this it for Sears?

Old 10-10-2018, 09:05 AM
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Default Is this it for Sears?

I hope not, I remember like it was yesterday going there with my father, grandfather and then my son. Loved Sears Hardware Stores

The handwriting is on the wall: Sears appears to be nearing bankruptcy.
One of Sears' major shareholders just dumped a chunk of his stock for pennies on his original investment. The company added a new director who is familiar with bankruptcies and restructuring. Reports circulated that the company is talking to advisers and banks in preparation for a bankruptcy filing.
Sears Holdings, the parent company of Sears and Kmart, faces an October 15 deadline to pay $134 million on its debt. CEO and primary shareholder Eddie Lampert told the company's board that it was crucial it restructure more than $5 billion it owes "without delay," according to a recent regulatory filing.

https://www.cnn.com/2018/10/10/busin...out/index.html
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Old 10-10-2018, 09:08 AM
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Eddie Lampert should be in jail for what he did to that company.
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Old 10-10-2018, 09:10 AM
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Looking through that catalog day after day, circling your wish list.
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Old 10-10-2018, 09:10 AM
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Sears was dead years ago... Lampert just worked it until the real estate and market was high enough and slowly picked the bones.

Next is JC Penny... then...

Target is likely next... but it'll be a while.
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Old 10-10-2018, 09:12 AM
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Originally Posted by OldPete View Post
Sears was dead years ago... Lampert just worked it until the real estate and market was high enough and slowly picked the bones.

Next is JC Penny... then...

Target is likely next... but it'll be a while.
JC Penny yes. Target will be fine.
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Old 10-10-2018, 09:13 AM
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Originally Posted by OldPete View Post
Sears was dead years ago... Lampert just worked it until the real estate and market was high enough and slowly picked the bones.

Next is JC Penny... then...

Target is likely next... but it'll be a while.
And then that will be that. Will all be buying from Amazon and the likes. No more brick and mortar stores to actually go look at something. My township used to have 4 hardware stores, last one closed two years ago
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Old 10-10-2018, 09:21 AM
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Originally Posted by FASTFJR View Post
And then that will be that. Will all be buying from Amazon and the likes. No more brick and mortar stores to actually go look at something. My township used to have 4 hardware stores, last one closed two years ago
What do you think killed brick and mortar retail? It's not Rocket science. People buy almost exclusively on price. Stores used to be full service with people who took care of you. They traded that for help yourself. pick a tag and pay, then wait for your widget to come down a conveyor to the pick up area. Then, why go to the store? Why not just order it, screw customer service because I'd rather pay less money then to pay for service. Now it's buy the cheapest piece of crap you can find and bitch about the quality and how hard it is with shipping and getting thru to get some kind of service. Forget tech support,that sh!t is extra. Maybe not in a monetary way but in time, in time it costs you extra.
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Old 10-10-2018, 09:24 AM
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Crazy part is Sears had the model with its catalogs/mail order to go to Online. All they had to do was figure out the online/Amazon model and if the stores went away it would not have mattered.

Their products suck now. Sold off Craftsman and their entry level mowers and tools are all chines junk now.
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Old 10-10-2018, 09:25 AM
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Originally Posted by FASTFJR View Post
My township used to have 4 hardware stores, last one closed two years ago
Hardware stores around here are on fire. Most have expanded to include a nice home goods section including stuff like high end grills (BGE, etc.), and are loving life. Best I can tell the bulk of the customer base is local folks that want to avoid the craziness at HD or Lowes, but can't necessarily wait 2 days on Prime.
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Old 10-10-2018, 09:25 AM
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AutoZone and Advance will soon fall too.

The "I can order it" will no hold up in the Amazon world.

Unless they sell a lot of air fresheners and candy bars.

Doug
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Old 10-10-2018, 09:29 AM
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Brick & mortar retail is not dead, nor is it dying. Their share of consumer spending has dropped dramatically, but brick and mortar still grows 1-2% per year. Your local hardware stores weren't put out of business by Amazon, their death was sealed by Home Depot and Lowe's (or similar regional mega-stores). Your small local retailers got buried by Wal-Mart, not Amazon.

Sears is dead, the body just doesn't know it yet, and JCP is right behind them. American shopping habits are changing, and folks just don't want to roam department stores unless they are getting stuff at deep discounts or getting something incredibly unique. Sears and JCP offer neither. When those companies go under, some of their sales may go to on-line, but the rest will go to smaller specialty retailers.
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Old 10-10-2018, 09:30 AM
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Originally Posted by bumster View Post
What do you think killed brick and mortar retail? It's not Rocket science. People buy almost exclusively on price. Stores used to be full service with people who took care of you. They traded that for help yourself. pick a tag and pay, then wait for your widget to come down a conveyor to the pick up area. Then, why go to the store? Why not just order it, screw customer service because I'd rather pay less money then to pay for service. Now it's buy the cheapest piece of crap you can find and bitch about the quality and how hard it is with shipping and getting thru to get some kind of service. Forget tech support,that sh!t is extra. Maybe not in a monetary way but in time, in time it costs you extra.
Thanks for clueing me in
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Old 10-10-2018, 09:33 AM
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Originally Posted by rdmallory View Post
AutoZone and Advance will soon fall too.

The "I can order it" will no hold up in the Amazon world.

Unless they sell a lot of air fresheners and candy bars.

Doug
im not buying that. People will always need car parts right now, not two days or more later.
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Old 10-10-2018, 09:37 AM
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Originally Posted by jcbadabing View Post
Brick & mortar retail is not dead, nor is it dying. Their share of consumer spending has dropped dramatically, but brick and mortar still grows 1-2% per year. Your local hardware stores weren't put out of business by Amazon, their death was sealed by Home Depot and Lowe's (or similar regional mega-stores). Your small local retailers got buried by Wal-Mart, not Amazon.

Sears is dead, the body just doesn't know it yet, and JCP is right behind them. American shopping habits are changing, and folks just don't want to roam department stores unless they are getting stuff at deep discounts or getting something incredibly unique. Sears and JCP offer neither. When those companies go under, some of their sales may go to on-line, but the rest will go to smaller specialty retailers.
There are a few groups that believe that.

1) Retail real estate holders.
2) Old people.
3) Retailers that refuse to take head out of sand.

B&M retail is on a downward spiral... and it isn't going to stop. There is still A LOT more that can migrate from B&M to non-B&M. IMHO, a time will come when fast food, groceries, and just about everything else will come to you.

I see it already.

Mind you, I had a retail B&M store for 11 years. I closed it in 2002 and have been online from 2000 until today.

Retail is an amazing thing. I am especially interested in the day when mfg. figure out that they no longer need retailers. No more middle man. What happens to places like Amazon then. We're a long way off from that happening, but it will. Just watch shows like Shark Tank... what's the first thing they tell people. Forget about retail. Sell it direct on your own channel. Amazon might end up relegated to a marketplace (which they are already)... and hey... he gets a nice piece of the pie for that.
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Old 10-10-2018, 09:40 AM
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Originally Posted by rdmallory View Post
AutoZone and Advance will soon fall too.

The "I can order it" will no hold up in the Amazon world.

Unless they sell a lot of air fresheners and candy bars.

Doug
Their counter sales are peanuts to their commercial sales. Notice that at night time they typically have 3-4 little white pickups or econobox hatchbacks sitting on the side of the store. Those things stay in the road during daytime hours. Advance bought out CarQuest, which effectively gave them a giant market share boost for small shop sales. Napa is hanging right along with them.
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Old 10-10-2018, 09:45 AM
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No matter what side you are on the discussion of which brick and mortar stores will fail ... it's a reality that many have and will continue to.

I, personally, try to avoid Amazon or other online retailers unless I simply cannot get what I need locally. I can't tell you how frustrating it is to be stopped in the middle of a project, multiple times, to wait for a shipment to arrive. I used to be able to run to Radio Shack for any component I wanted. I couldn't even begin to imagine a city without any kind of hardware store ... but I fear I might have to in the future.

I blame a lot of this on 2 things: Our society's laziness, and also the unwillingness of people to learn to fix things. Nobody cares, we are a wasteful throw away society.

It may not do much good, but I still plan to shop locally, regardless of price, as often as I can and for as long as I can!!
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Old 10-10-2018, 09:50 AM
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Originally Posted by andycfi View Post
No matter what side you are on the discussion of which brick and mortar stores will fail ... it's a reality that many have and will continue to.

I, personally, try to avoid Amazon or other online retailers unless I simply cannot get what I need locally. I can't tell you how frustrating it is to be stopped in the middle of a project, multiple times, to wait for a shipment to arrive. I used to be able to run to Radio Shack for any component I wanted. I couldn't even begin to imagine a city without any kind of hardware store ... but I fear I might have to in the future.

I blame a lot of this on 2 things: Our society's laziness, and also the unwillingness of people to learn to fix things. Nobody cares, we are a wasteful throw away society.

It may not do much good, but I still plan to shop locally, regardless of price, as often as I can and for as long as I can!!
My personal take is I try to shop local to the extent possible, BUT, I don't consider big box chains to be local in the least. Locally amazon employs nearly as many at their distribution center as do many of the big retailers, and pays those DC employees better than the retail places. Locally owned and operated stores, as well as locally owned franchises of larger organizations I do give preferential treatment over online. But not Walmart, HD, Lowes, Etc. Most of them are staffed by inept employees who act like being at work and performing their job is an annoyance. I would rather deal with a website and take my chances with the USPS/UPS/FedEx than put up with their BS.
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Old 10-10-2018, 09:52 AM
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Originally Posted by FASTFJR View Post
Thanks for clueing me in
Glad I could help KR
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Old 10-10-2018, 09:56 AM
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Originally Posted by GWcpa View Post
Crazy part is Sears had the model with its catalogs/mail order to go to Online. All they had to do was figure out the online/Amazon model and if the stores went away it would not have mattered.

Their products suck now. Sold off Craftsman and their entry level mowers and tools are all chines junk now.
Completely agree. Poor management.
Sears has been dead a long time. Someone mentioned the last real estate play. that is over too.
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Old 10-10-2018, 10:19 AM
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I believe that there will always be a need for Brick and Mortar stores. There will always be people who like to try on clothes and touch shoes, etc. The trick they have to master is how much inventory to hold and how large of an ONLINE presence they want to have. Getting cheap Chinese crap from Amazon only goes so far.

How many of you would buy your suit online? Most guys go to a store try on a bunch of suits and then purchase. Bigger Purchases such as furniture, who would go online and purchase furniture without seeing it in person? How about that zero turn lawn mower, Are you going to get it from an Online store or are you going to look it over prior to purchasing. How about nuts and bolts and screws - you don't have a clue on what you need until you go to the hardware store and look over what they have and if it will fit your needs. I doubt that you will do that online.

Don't get me wrong Online purchasing has a HUGE presence in today's society, but if the brick and mortar guys all said FFF this and closed up shop, there would be a downward spiral in purchasing. The Malls are trying to re-invent themselves because a lot of stores are closing. You now see all these crappy kiosks in the middle of the mall trying to hawk Cheap Chinese Crap. If the Malls want to keep up their relevance, they must start offering other services and entertainment such as theme parks or swimming parks. I told my wife that too many people still go to the malls, it is like a gathering place for people. They just have to find things that people will spend their money on.
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