Macy's To Lay Off 5,000 (interview, rating, bill, market)
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Where have you been? Craftsman's long gone. It was gone even when Sears was around. Their only claim to fame was the Made in USA stamp. When they gave that up, they became another Harbor Freight tool.
Yep, the only place to buy a good Craftsman's tool is an estate sale.
Sears and Macy's need to change their name to Sears Coal Energy and Macy's Coal Corporation; and move their headquarters to West Virginia.
Then Trump and all his supporters will claim online shopping is a liberal hoax, Amazon is an unprofitable company subsidized by the government, and Trump will try to pass laws to create more Sears and Macy's jobs.
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That post makes no sense.....
Sears was done in not by Trump or by Obama's policies.
Sears was done in by horrible management and they deserve exactly what they are getting.
Other retail companies found ways to do it better, cheaper, faster, while Sears management sat around doing nothing. Do you realize that Sears could have used their catalog business and done what Amazon is doing? They had a head start on everyone. And they failed miserably.
Dont fall for it. The liquidators are raising prices to lower them.
Depends on the individual store. ALOT.
Employees in some of the closing stores are being recruited in store while they work as the Sears store closes. Some have had 5 or more offers. In many areas there is a shortage of people willing to work for chump change that can pass a drug test.
Eddie Lampert IS the worst thing but there is a plan there only he knows. Eddie is as ruthless as they come and mean as hell.
He would ruin a million people if it would make him a dollar, but don't think there is not a plan. He wins no matter what. He already has his initial investments back by multiples.
My guess is two track: 1 Bankrupt it in 2018 or...
2 Should Sears make it to 1 year from today this is my guess.
"Miraculously" the 200-300 Sears left will suddenly be "profitable", quite possibly after he owns the whole thing 100%. In fact it was a shell game all along; shifting costs here and there to make losses look bigger will suddenly shift elsewhere and Eddie will own the whole thing. It will be some variation on this using accounting concepts few understand.
Great article. I though 2017 would be it for Sears, in fact I had bought some put options to cover that possibility. They made it through '17, but I can't see how they make it another year. Retailers do not come back from this type of situation -- it's almost impossible. Sears has been beaten by Wal Mart, Target, Home Depot, and the internet. Game's over.
Sears has being going down hill for years. I'm surprised they haven't disappeared all together. About their only redeeming grace has been craftsman tools and they are going downhill as well.
The selling point of Sears was that friendly salesperson in a suit that knew what they were selling and could guide you every step of the way. I miss those days, hard to find that kind of service anymore unless you go to a high-end luxury store. And I have been doing that a lot more lately because I find general consumer grade appliances and other products to be cheap asian sweatshop built garbage.
I've not read all of the responses, but I agree that Sears needs to do something different if they want a chance at survival.
I actually really like Sears for mattresses, appliances, tools, children's clothing, menswear and homewares. As I said in an earlier post, their women's clothing however does nothing for me.
Another issue I have though, is that what they have in store is sometimes not on their website.
As a mother of 3, it is easier to shop online - but with Sears I've found that they have better stuff on the racks that can't be found online.
For instance, passing through Sears (on our way into the mall) with my kids in the fall, I spotted some seriously cute little boys tracksuits for only $14. My kids weren't in the mood to wait for me to buy anything so I figured I'd just look them up online.
Nope. Couldn't find them. That's happened with other things as well. I did end up making a special trip to Sears and bought 4 of them for my boys- but it would have been far more convenient to locate them on the website.
Definitely a fail, on Sears part!
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