Plan B Forum

Well we all knew I but when they put it in the annual report . . .

From the NYT

The corporate owner of Sears and Kmart said on Tuesday that there was “substantial doubt” that it could continue as a going concern, as bricks-and-mortar stores continue to face challenges in an e-commerce world.

In a filing with the Securities and Exchange Commission, the corporate owner, Sears Holdings Corporation, cited its efforts to cut costs, sell property, tap new funding sources and make other moves to stanch the flow of red ink. Still, it reported a $2.2 billion loss for last year and said it had to use money from its investments and financing activities to fund operations.

Years ago when I was a poor student I went to the local hifi store to pick their brains about an amplifier I wanted. I then went and bought it for a bit less from what was just starting up in the UK then, a discount warehouse. Comet, for those of you with long UK memories. I probably saved myself GBP 5 which was a lot of money to me in those days and I probably thought what a clever chap I am. My wife will tell you that nothing much has changed.

I think I realized immediately afterwards what I had done, and I have never done it since. If I read about a book I want in a review somewhere, I might buy it from Amazon. But if I see it in Barnes and Noble I will buy it there even if it costs me a bit more. If I want a washing machine and Sears recommends one I will buy it there and not shop around to see if that model is available for less at Lowes.

Never mind guys Trump has your back and he will recoup those retail jobs.

It all goes back to when K-Mart was purchased by a real-estate wheeler dealer (alot like Trump) who said it did not matter if K-Mart folded--the stores owned the property where they were located so he could just sell the real property and leave with the money. Then he grabbed Sears in a similar leveraged buy and has been selling it off chunk by chunk. Now Sears Holding no longer holds Sears Tower in Chicago. 'Course Sears has a long history of that--remember when Allstate Insurance was a division of Sears, likewise Discover Credit card? Now there are three retail stores within ten miles of me with that have Sears on the sign out front and no connection with Sears Holding because SH sold off that division. I can now buy Craftsman tools at my local neighborhood hardware store. I have not seen a Sears-Roebuck Catalog in at least 30 years. That catalog certainly is part of the roots of online shopping. Back in the '50s I had a cousin working in the catalog fulfillment center in Kansas City. I was several stories high and all of a full city block. It was just as much technical state of the art as Amazon today. My daughter works in the money room for the largest Sears-Roebuck store with a 50 mile radius. They have reduced staff to the point that only one bank of cash registers is in service. There are two other big doorways allowing exit from the store--and it is no secret that lots of merchandise is walking out those doors, but fire exit regulations will not permit them to be locked and Sear Hq will not permit hiring people to work near them.

snailgate

All things pass away . . .

I read an article that says Sears is actually putting together a recovery plan, but who knows if it will work out.

As an introvert, I consider online shopping to be the best thing since sliced bread. I can go online and buy just what I want, without being forced to subject myself to a bunch of other temptations AND the frustrations of dealing with other shoppers and rude salespeople and driving back and forth to the store. Most of the clothing companys that sell online have very easy return/exchange policies to accommodate the online shopper.

Sears charges a fortune for parts and shipping.
I ordered a couple of switches for an oven exhaust fan. Switches were $10 total and shipping was another $8. They came in a lightly padded 6"x8" envelope that could not have cost more than $1.50 to mail.
Learned my lesson, go to searsparts.com, find the part number then search for them on the net. Usually you can find it for less and much less (sometimes free) shipping.
And if it's from out of state without a brick and mortar in my state, no state sales tax.

And as snailgate says, craftsman tools are available outside of Sears stores now. I was surprised when I went into Ace hardware near my duaghters house in Rocky Point and saw craftsman stuff.

And kenmore appliances are mostly whirlpool models rebranded.

I used to frequent the Sears Hardware store in centereach before it closed. They had a really good selection of wierd fasteners and specialty items that I never could find elsewhere. I must have been the only one who frequented that aisle as they did away with it and started selling appliances and beds along with hardware stuff.

sg. Developers are "reimagining" the Granite Run Mall in Media, soon to be known as the Promenade at Granite Run. From the get-go Sears was retained as anchor tenants, and part of the new plans. I always wondered how this was possible knowing how volatile Sears Holdings has been over the last decade.

The now "detached from the mall" Sears GR floor space is huge by area comparison. I can't imagine how this possible (impending?) bankruptcy will effect further development if Sears doesn't survive.

Google: promenade at granite run mall
http://betinvestments.com/properties/pe ... 0-2-2-2-2/

oldr_n_wsr wrote:I used to frequent the Sears Hardware store in centereach before it closed. They had a really good selection of wierd fasteners and specialty items that I never could find elsewhere. I must have been the only one who frequented that aisle as they did away with it and started selling appliances and beds along with hardware stuff.

I remember that aisle! There was a Sears Hardware store less than a mile from my mother's house which was my go-to store whenever I was around there doing household chores for her--or even when I was around there and just needed something that I couldn't find at my local Ace Hardware store. They did sell appliances too, for their last couple of years (along with, of course, paint, all kinds of power tools, lawn mowers, tractors, etc.). I was so disappointed when it closed and I had to start looking (often unsuccessfully) in Home Depot for the sorts of things I used to get there.

I have not seen a Sears-Roebuck Catalog in at least 30 years.

When I was a kid, the day the Sears Roebuck Christmas Catalog would arrive was one of the highlights of the holiday season...

When I knew it was getting to be time for it to show up, I'd check the mail every day...



A few years ago, I bought three of them on EBay (the '68, the '66, and the 70') to show Tati (and now Jimmy) what kinds of toys were around when I was a kid...

What a great trip down memory lane...

My mom always gave us the catalog and told us to mark the things we liked so she could tell Santa.

I was so disappointed when it closed and I had to start looking (often unsuccessfully) in Home Depot for the sorts of things I used to get there.

I still have Agnew Hardware in Lake Ronkonkoma. Have an oddball part you need, bring it in and he'll have it or find it.
He even carries Radio Flyer wagons and the old style pedal cars.


Agnew-Taylor Hardware

I recall SEARS having all types of firearms.

No waiting period, pay for it and walk out the store.

Those were the days.

That was back when men were men and bought tools and guns, and women were women and bought towels and washing machines.

Nowadays, with all these millennial PC twerps you can't tell a man from a woman.

[and BSG replies.... ]

You would have thought that Sears with their catalog sales would have invented online retail and not Amazon? No?

And K-Mart was in chapter 11 14 years ago, how did they stay alive this long?


yrs,
rubato

Sears Roebuck and fire arms? You betcha. They even had a special model Ted Williams endorsed shotgun. Law textbooks 30 years ago featured a case where somebody bought a gun and ammo at the Sears store at Price's Corner shopping center in Wilmington DE, and then the customer went across the street and used the gun to rob the Jack-in-the-Box across the street.

snailgate.

oldr_n_wsr wrote:Sears charges a fortune for parts and shipping.
I ordered a couple of switches for an oven exhaust fan. Switches were $10 total and shipping was another $8. They came in a lightly padded 6"x8" envelope that could not have cost more than $1.50 to mail.
Learned my lesson, go to searsparts.com, find the part number then search for them on the net. Usually you can find it for less and much less (sometimes free) shipping.
And if it's from out of state without a brick and mortar in my state, no state sales tax.

And as snailgate says, craftsman tools are available outside of Sears stores now. I was surprised when I went into Ace hardware near my duaghters house in Rocky Point and saw craftsman stuff.

And kenmore appliances are mostly whirlpool models rebranded.

I used to frequent the Sears Hardware store in centereach before it closed. They had a really good selection of wierd fasteners and specialty items that I never could find elsewhere. I must have been the only one who frequented that aisle as they did away with it and started selling appliances and beds along with hardware stuff.

Craftsman has pretty much collapsed...it's almost all generic Chinese stuff now.

Kenmore has ALWAYS been rebranded...my mother's Kenmore dishwasher is a Whirlpool, her Kenmore freezer is an Amana. I'm pretty sure my Kenmore washer is a Maytag. Not sure on my fridge, because it's over 20 years old...GE, maybe?

Burning Petard wrote:Sears Roebuck and fire arms? You betcha. They even had a special model Ted Williams endorsed shotgun. Law textbooks 30 years ago featured a case where somebody bought a gun and ammo at the Sears store at Price's Corner shopping center in Wilmington DE, and then the customer went across the street and used the gun to rob the Jack-in-the-Box across the street.

snailgate.

Many hardware chains sold house-brand firearms...my uncle recalls Western Auto having a house brand (I think "Western") shotgun line.

PS-BSG-your sig pic is absolutely huge. Any chance that could be resized?

My apologies, it didn't look huge to me but I reduced it by 75% on picresize so hopefully it's ok now?

Much better.

You would have thought that Sears with their catalog sales would have invented online retail and not Amazon? No?

That's actually a good point rube...

They already had an established reputation, the promotional network, and the central warehousing and distribution systems in place...

A lack of forward-thinking management I suppose...

"This internet thing? Screw it, it's just a passing fad"...