Sears

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mrsticka
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Sears

Postby mrsticka » Sat Feb 04, 2017 7:20 am

Since Crossroads is scheduled to be demolished, I can't help but wonder what will happen to Sears. Will they move to Westroads? I was just watching a couple of YouTube videos were visitors were riding up and down the elevator in Sears. The 2nd floor was/is completely sealed off. But the 1st floor and lobby are still accessible.

Ever since, I was little I wondered why the 1st floor was labeled the lobby and why the 2nd and 3rd floors were labeled the 1st and second ones.

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Sears

Postby OmahaOmaha » Sat Feb 04, 2017 9:44 am

mrsticka wrote:Since Crossroads is scheduled to be demolished, I can't help but wonder what will happen to Sears. Will they move to Westroads? I was just watching a couple of YouTube videos were visitors were riding up and down the elevator in Sears. The 2nd floor was/is completely sealed off. But the 1st floor and lobby are still accessible.

Ever since, I was little I wondered why the 1st floor was labeled the lobby and why the 2nd and 3rd floors were labeled the 1st and second ones.


Sears will not be moving to Westroads. All Sears stores will be closed in the next year or two.

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Re: Westroads Development

Postby mrsticka » Sat Feb 04, 2017 10:49 am

OmahaOmaha wrote:
mrsticka wrote:Since Crossroads is scheduled to be demolished, I can't help but wonder what will happen to Sears. Will they move to Westroads? I was just watching a couple of YouTube videos were visitors were riding up and down the elevator in Sears. The 2nd floor was/is completely sealed off. But the 1st floor and lobby are still accessible.

Ever since, I was little I wondered why the 1st floor was labeled the lobby and why the 2nd and 3rd floors were labeled the 1st and second ones.


Sears will not be moving to Westroads. All Sears stores will be closed in the next year or two.

Oh, they will, will they? Well, that's just sad. :(

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Re: Westroads Development

Postby Omaha Cowboy » Sat Feb 04, 2017 2:24 pm

OmahaOmaha wrote:
mrsticka wrote:Since Crossroads is scheduled to be demolished, I can't help but wonder what will happen to Sears. Will they move to Westroads? I was just watching a couple of YouTube videos were visitors were riding up and down the elevator in Sears. The 2nd floor was/is completely sealed off. But the 1st floor and lobby are still accessible.

Ever since, I was little I wondered why the 1st floor was labeled the lobby and why the 2nd and 3rd floors were labeled the 1st and second ones.


All Sears stores will be closed in the next year or two.


Care to indulge us with your source material or "inside Intel" for this statement? Because I HIGHLY doubt it will happen (especially in the next 12-24 months). If this is you opinion only, what do you base it on..

Inquiring forum members are curious :) ...

Ciao..LiO...Peace
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Re: Westroads Development

Postby riceweb » Sat Feb 04, 2017 3:17 pm

Sears is rapidly running out of money. Their sale of Craftsman was for a fraction of the value expected, because everyone can smell blood. Suppliers have been severing ties with Sears over payment concerns. They are running out of brands to sell or license, and the value of those items is falling every day as it's becoming a buyer's market (the buyers have all the leverage here over Sears). Further, even in a liquidation, many of Sears' locations are awful--both terrible locations and terrible buildings that need significant renovations, so nobody will acquire Sears. It's worthless.

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Re: Westroads Development

Postby daveoma » Sat Feb 04, 2017 4:02 pm

Omaha Cowboy wrote:
OmahaOmaha wrote:
mrsticka wrote:Since Crossroads is scheduled to be demolished, I can't help but wonder what will happen to Sears. Will they move to Westroads? I was just watching a couple of YouTube videos were visitors were riding up and down the elevator in Sears. The 2nd floor was/is completely sealed off. But the 1st floor and lobby are still accessible.

Ever since, I was little I wondered why the 1st floor was labeled the lobby and why the 2nd and 3rd floors were labeled the 1st and second ones.


All Sears stores will be closed in the next year or two.


Care to indulge us with your source material or "inside Intel" for this statement? Because I HIGHLY doubt it will happen (especially in the next 12-24 months). If this is you opinion only, what do you base it on..

Inquiring forum members are curious :) ...

Ciao..LiO...Peace

https://www.google.com/amp/s/www.thestreet.com/amp/story/13960952/1/sears-is-dying-and-now-it-s-running-out-of-stuff-to-sell-for-cash.html

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Re: Westroads Development

Postby Omaha Cowboy » Sat Feb 04, 2017 6:30 pm

daveoma wrote:
Omaha Cowboy wrote:
OmahaOmaha wrote:
mrsticka wrote:Since Crossroads is scheduled to be demolished, I can't help but wonder what will happen to Sears. Will they move to Westroads? I was just watching a couple of YouTube videos were visitors were riding up and down the elevator in Sears. The 2nd floor was/is completely sealed off. But the 1st floor and lobby are still accessible.

Ever since, I was little I wondered why the 1st floor was labeled the lobby and why the 2nd and 3rd floors were labeled the 1st and second ones.


All Sears stores will be closed in the next year or two.


Care to indulge us with your source material or "inside Intel" for this statement? Because I HIGHLY doubt it will happen (especially in the next 12-24 months). If this is you opinion only, what do you base it on..

Inquiring forum members are curious :) ...

Ciao..LiO...Peace

https://www.google.com/amp/s/www.thestreet.com/amp/story/13960952/1/sears-is-dying-and-now-it-s-running-out-of-stuff-to-sell-for-cash.html


I'm completely aware of the shaky ground Sears is on right now.. no question, it's nothing to sluff off as "no big deal" and is serious.. But do any of you see a complete shutdown of the Sears brand a la Circuit City within the next 1 or 2 years?

A lot can change for better or worse within this calendar year for Sears.. and I might only VERY occasionally be a customer of theirs (I bought tires from them about 3 or so years ago at the Crossroads location)..

We shall see...

Ciao..LiO...Peace
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Re: Westroads Development

Postby GRANDPASMUCKER » Sat Feb 04, 2017 8:14 pm

Omaha Cowboy wrote:
daveoma wrote:
Omaha Cowboy wrote:
OmahaOmaha wrote:
mrsticka wrote:Since Crossroads is scheduled to be demolished, I can't help but wonder what will happen to Sears. Will they move to Westroads? I was just watching a couple of YouTube videos were visitors were riding up and down the elevator in Sears. The 2nd floor was/is completely sealed off. But the 1st floor and lobby are still accessible.

Ever since, I was little I wondered why the 1st floor was labeled the lobby and why the 2nd and 3rd floors were labeled the 1st and second ones.


All Sears stores will be closed in the next year or two.


Care to indulge us with your source material or "inside Intel" for this statement? Because I HIGHLY doubt it will happen (especially in the next 12-24 months). If this is you opinion only, what do you base it on..

Inquiring forum members are curious :) ...

Ciao..LiO...Peace

https://www.google.com/amp/s/www.thestreet.com/amp/story/13960952/1/sears-is-dying-and-now-it-s-running-out-of-stuff-to-sell-for-cash.html


I'm completely aware of the shaky ground Sears is on right now.. no question, it's nothing to sluff off as "no big deal" and is serious.. But do any of you see a complete shutdown of the Sears brand a la Circuit City within the next 1 or 2 years?

A lot can change for better or worse within this calendar year for Sears.. and I might only VERY occasionally be a customer of theirs (I bought tires from them about 3 or so years ago at the Crossroads location)..

We shall see...

Ciao..LiO...Peace



Yeah they will be gone in 2 years. This patient is in kind of like in Hospice right now. The Dr has diagnosed the patient as a dead man walking we just dont know if it dies tomorrow or 3 months from now. But its going to die and soon. That K-mart on 50th & L dont make it to Christmas!

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Re: Westroads Development

Postby Omaha Cowboy » Sat Feb 04, 2017 8:32 pm

GRANDPASMUCKER wrote:Yeah they will be gone in 2 years. This patient is in kind of like in Hospice right now. The Dr has diagnosed the patient as a dead man walking we just dont know if it dies tomorrow or 3 months from now. But its going to die and soon. That K-mart on 50th & L dont make it to Christmas!


Honestly, I'm surprised that 50th and L K-mart has survived this long...

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Re: Westroads Development

Postby mrsticka » Sat Feb 04, 2017 10:39 pm

First Montgomery Ward, now Sears?

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Re: Westroads Development

Postby riceweb » Sun Feb 05, 2017 7:19 pm

Saw this on LinkedIn. Though it doesn't necessarily mean Sears will go the way of Circuit City, I mean, c'mon. They're done for. Also, Sears' market cap is now only ~$736m, it just collapsed again in recent weeks. Green Plains Energy has a higher market cap now.

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Re: Westroads Development

Postby Greg S » Mon Feb 06, 2017 8:31 am

Honestly with Sears and KMart I don't know why you go there anymore and who there customer is.

With Target, you go for cheaper prices but you want no part of Wal Mart. With Wal Mart, you go there based on price only.

Greg

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Re: Westroads Development

Postby nebugeater » Mon Feb 06, 2017 8:48 am

Greg S wrote:Honestly with Sears and KMart I don't know why you go there anymore and who there customer is.

With Target, you go for cheaper prices but you want no part of Wal Mart. With Wal Mart, you go there based on price only.

Greg



With Sears some go for the Craftsman Underwear!
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Re: Westroads Development

Postby Omaha Cowboy » Mon Feb 06, 2017 12:34 pm

nebugeater wrote:
Greg S wrote:Honestly with Sears and KMart I don't know why you go there anymore and who there customer is.

With Target, you go for cheaper prices but you want no part of Wal Mart. With Wal Mart, you go there based on price only.

Greg



With Sears some go for the Craftsman Underwear!


Perhaps this will be the catalyst to keep Sears afloat for another 2 years and beyond :;): ...

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Re: Westroads Development

Postby omaha79 » Mon Feb 06, 2017 2:29 pm

I went into Sears at the Crossroads right before Christmas. The whole experience was surreal. I felt like I stepped into a time warp, but everyone and everything had a dead man walking feel about it. That chain is doomed.

Someone above asked who are even the customers for Sears and KMart? While there aren't many of them, it's still a small niche. That KMart on 50th and L caters mainly to the elderly and growing Hispanic population that lives in South Omaha. People like my parents shop at that store, partly out of nostalgia and partly based on it being the only big box retail entity in the immediate area. Once it's gone, and it will soon be gone, there will be a void in that part of town. It may not seem like much, but the drive from that part of Omaha to either the Wal-Mart on 72nd and Giles or the Shopko or Target stores on 84th street is a bit of a trek for some of the older people in that area.

Overall, I think Sears/KMart exists in the margins. The only stores even halfway viable are in places devoid of other retail options like 50th and L. Or, small town locations where Wal-Mart hasn't bothered to come in yet.

Speaking of Shopko...how does that retailer stay open either? To me, they are much closer to KMart than they are Wal-Mart or Target. I know part of their demographic is small town locations...but, it boggles my mind how Shopko stays in business in a place like Omaha where Wal-Mart and Target have essentially cornered the market.

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Re: Westroads Development

Postby bbinks » Mon Feb 06, 2017 2:44 pm

nebugeater wrote:
Greg S wrote:Honestly with Sears and KMart I don't know why you go there anymore and who there customer is.

With Target, you go for cheaper prices but you want no part of Wal Mart. With Wal Mart, you go there based on price only.

Greg



With Sears some go for the Craftsman Underwear!


Is it covered by the same lifetime warranty as the tools?? :;):

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Re: Westroads Development

Postby TheSeventhBrat » Mon Feb 06, 2017 6:20 pm

Omaha Cowboy wrote:Yeah they will be gone in 2 years. This patient is in kind of like in Hospice right now. The Dr has diagnosed the patient as a dead man walking we just dont know if it dies tomorrow or 3 months from now. But its going to die and soon. That K-mart on 50th & L dont make it to Christmas!


Honestly, I'm surprised that 50th and L K-mart has survived this long...

Ciao..LiO...Peace[/quote]

It's actually quite busy. Not Walmart busy and the store is a dump, but it appears to be holding its own. Plus they seem to be supplementing their income by having a used car lot on the east side.

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Re: Westroads Development

Postby Omaha Cowboy » Tue Feb 07, 2017 12:27 pm

TheSeventhBrat wrote:It's actually quite busy. Not Walmart busy and the store is a dump, but it appears to be holding its own. Plus they seem to be supplementing their income by having a used car lot on the east side.


I remember when I was in college in the early 80's and worked a few shifts at that store.. it was pretty frayed even back then. Good to know it's still doing a decent business though...

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Re: Westroads Development

Postby GRANDPASMUCKER » Tue Feb 07, 2017 4:05 pm

The Algorithm I suspect that the management used to decide which K-Mart in Omaha to keep open was a simple one that had nothing to do with the amount of sales. I bet the farm the reason they kept the one open on 50th & L was because the rent was much cheaper then 132nd & Maple or 144th Stonybrook.

I was in K-mart Saturday and bought a cheap pair of jeans. There was about 10 cars in the parking lot at best. No they are not making a go of it despite what people might be reporting here!
Last edited by GRANDPASMUCKER on Tue Feb 07, 2017 4:09 pm, edited 1 time in total.

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Re: Sears

Postby Omaha_corn_burner » Tue Feb 07, 2017 4:07 pm

What does any of this have to do with Westroads Development? Let's get back on topic.

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Re: Sears

Postby buildomaha » Tue Feb 07, 2017 5:30 pm

Omaha_corn_burner wrote:What does any of this have to do with Westroads Development? Let's get back on topic.

THANK YOU!!! :clap:

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Re: Sears

Postby Brad » Tue Feb 07, 2017 10:26 pm

buildomaha wrote:
Omaha_corn_burner wrote:What does any of this have to do with Westroads Development? Let's get back on topic.

THANK YOU!!! :clap:


I split them up. I have been trying to keep up, but between mrsticka and Rock Harbor going off topic in 50 different threads in the past week, I got behind...
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Re: Sears

Postby mrsticka » Tue Feb 07, 2017 11:17 pm

If I'd known this was going to happen, I would've just simply started a new topic myself.

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Re: Sears

Postby Omaha Cowboy » Wed Feb 08, 2017 12:31 pm

mrsticka wrote:If I'd known this was going to happen, I would've just simply started a new topic myself.


And we just did on your behalf, lol..

No worries mrsticka. The discussion of a potential Sears collapse is worthy of its own topic anyway :thumb: ...

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Re: Sears

Postby omaha79 » Wed Feb 08, 2017 1:23 pm

GRANDPASMUCKER wrote:The Algorithm I suspect that the management used to decide which K-Mart in Omaha to keep open was a simple one that had nothing to do with the amount of sales. I bet the farm the reason they kept the one open on 50th & L was because the rent was much cheaper then 132nd & Maple or 144th Stonybrook.

I was in K-mart Saturday and bought a cheap pair of jeans. There was about 10 cars in the parking lot at best. No they are not making a go of it despite what people might be reporting here!


I disagree with this to an extent. That Kmart does do a respectable level of business. I would agree that the rent at that location is likely cheaper than any of the other now closed locations, and while that's a factor, it doesn't tell the whole story.

The reason that location has survived is that it still fills a need in the community. As I mentioned, that is the only retail center servicing South Omaha proper. Anyone living from 24th-60th St. between Harrison and Center has to go South to the Target or Walmart in Bellevue, Southwest to the Target or WalMart in LaVista/Papillion, or Northwest to the Target/Walmart on 72nd and Dodge/Pacific.

That doesn't sound like much, but many in that area are elderly or low income. Many are disabled. So, that Kmart fills a need. It's a need that will be missed once that location closes unless another retailer steps in and fills the void.

No matter how cheap the lease is, Kmart/Sears wouldn't keep that location open as the only store in Omaha if it wasn't at least somewhat one of their better performing locations. Now, I'd buy that "better performing" is a sliding scale between sales and lease cost...but, the sales have to be a part of it.

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Re: Sears

Postby Omaha Cowboy » Wed Feb 08, 2017 4:35 pm

omaha79 wrote:
GRANDPASMUCKER wrote:The Algorithm I suspect that the management used to decide which K-Mart in Omaha to keep open was a simple one that had nothing to do with the amount of sales. I bet the farm the reason they kept the one open on 50th & L was because the rent was much cheaper then 132nd & Maple or 144th Stonybrook.

I was in K-mart Saturday and bought a cheap pair of jeans. There was about 10 cars in the parking lot at best. No they are not making a go of it despite what people might be reporting here!


I disagree with this to an extent. That Kmart does do a respectable level of business. I would agree that the rent at that location is likely cheaper than any of the other now closed locations, and while that's a factor, it doesn't tell the whole story.

The reason that location has survived is that it still fills a need in the community. As I mentioned, that is the only retail center servicing South Omaha proper. Anyone living from 24th-60th St. between Harrison and Center has to go South to the Target or Walmart in Bellevue, Southwest to the Target or WalMart in LaVista/Papillion, or Northwest to the Target/Walmart on 72nd and Dodge/Pacific.

That doesn't sound like much, but many in that area are elderly or low income. Many are disabled. So, that Kmart fills a need. It's a need that will be missed once that location closes unless another retailer steps in and fills the void.

No matter how cheap the lease is, Kmart/Sears wouldn't keep that location open as the only store in Omaha if it wasn't at least somewhat one of their better performing locations. Now, I'd buy that "better performing" is a sliding scale between sales and lease cost...but, the sales have to be a part of it.


Excellent post omaha79.. Your reasoning is sound and logical..

I'm still mildly surprised the 50th and L location has survived without a significant "freshening".. But given the locale and it's target demographic, the need for a big box retailer there outweighs any need for updated asthetics...

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Re: Sears

Postby omaha79 » Wed Feb 08, 2017 4:49 pm

Omaha Cowboy wrote:
omaha79 wrote:
GRANDPASMUCKER wrote:The Algorithm I suspect that the management used to decide which K-Mart in Omaha to keep open was a simple one that had nothing to do with the amount of sales. I bet the farm the reason they kept the one open on 50th & L was because the rent was much cheaper then 132nd & Maple or 144th Stonybrook.

I was in K-mart Saturday and bought a cheap pair of jeans. There was about 10 cars in the parking lot at best. No they are not making a go of it despite what people might be reporting here!


I disagree with this to an extent. That Kmart does do a respectable level of business. I would agree that the rent at that location is likely cheaper than any of the other now closed locations, and while that's a factor, it doesn't tell the whole story.

The reason that location has survived is that it still fills a need in the community. As I mentioned, that is the only retail center servicing South Omaha proper. Anyone living from 24th-60th St. between Harrison and Center has to go South to the Target or Walmart in Bellevue, Southwest to the Target or WalMart in LaVista/Papillion, or Northwest to the Target/Walmart on 72nd and Dodge/Pacific.

That doesn't sound like much, but many in that area are elderly or low income. Many are disabled. So, that Kmart fills a need. It's a need that will be missed once that location closes unless another retailer steps in and fills the void.

No matter how cheap the lease is, Kmart/Sears wouldn't keep that location open as the only store in Omaha if it wasn't at least somewhat one of their better performing locations. Now, I'd buy that "better performing" is a sliding scale between sales and lease cost...but, the sales have to be a part of it.


Excellent post omaha79.. Your reasoning is sound and logical..

I'm still mildly surprised the 50th and L location has survived without a significant "freshening".. But given the locale and it's target demographic, the need for a big box retailer there outweighs any need for updated asthetics...

Ciao..LiO...Peace


To GrandpaSmuckers point, I would imagine that any sort of significant refresh would blow the somewhat profitable business model out of the water.

I grew up in South Omaha. That Kmart was an institution to that part of the community for decades. It's sad to see it in such disrepair. I have fond memories of shopping there with my parents and then having dinner at Pizza Keg next door. It was a great store in its day. Those days are long gone. Still, there are some, like my parents, that are still loyal to that store for reasons I cannot fathom. I think it's part nostalgia, honestly. I seem to remember the last significant refresh being around 1990.

It's also no coincidence the other Kmart that survives in the metro is over in CB by Iowa Western. That's another area totally devoid of retail. Everyone that lives up in the hills between CB and Underwood utilizes that location. Otherwise, you have to drive deep into CB. Again, another example of Kmart surviving on the fringes.

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Re: Sears

Postby Omaha Cowboy » Wed Feb 08, 2017 7:04 pm

I'm really enjoying the great and thoughtful dialog/discussion in this thread..

Bringing this back to Sears in general, since it's been suggested the entire big box chain may not survive the calendar year, any predictions on the potential imminent demise of Sears?..

Let's go month/year on the prediction..

Or perhaps you see them hanging on for the foreseeable future..

Give us your projections...

Ciao..LiO...Peace
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Re: Sears

Postby debradomayer » Wed Feb 08, 2017 8:28 pm

Read an article yesterday about Sears/Kmart money problems and it seems their solution is to keep selling off anything profitable, like the Craftsman Tools to Black & Decker, their real estate to investors etc. They eventually will run out assets to sell! Once, when they were the #1 retailer, back in the mid to late 80's their biggest source of income/profit was from the Sears Revolving Charge/Credit Card. Truly ashamed that this retail giant has fallen so far.

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Re: Sears

Postby choke » Wed Feb 08, 2017 8:44 pm

Omaha Cowboy wrote:I'm really enjoying the great and thoughtful dialog/discussion in this thread..

Bringing this back to Sears in general, since it's been suggested the entire big box chain may not survive the calendar year, any predictions on the potential imminent demise of Sears?..

Let's go month/year on the prediction..

Or perhaps you see them hanging on for the foreseeable future..

Give us your projections...

Ciao..LiO...Peace


Read my lips. The Sears at the Crossroads will be there until the day that I die.

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Re: Sears

Postby omaha79 » Wed Feb 08, 2017 9:36 pm

Omaha Cowboy wrote:I'm really enjoying the great and thoughtful dialog/discussion in this thread..

Bringing this back to Sears in general, since it's been suggested the entire big box chain may not survive the calendar year, any predictions on the potential imminent demise of Sears?..

Let's go month/year on the prediction..

Or perhaps you see them hanging on for the foreseeable future..

Give us your projections...

Ciao..LiO...Peace


Very good discussion, I agree!

I'll go February 2019 on the chain going under.

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Re: Sears

Postby Greg S » Thu Feb 09, 2017 10:38 am

I'm torn between February 2019 or 2020. I know they have been selling real estate holdings to stay afloat.

Greg

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Re: Sears

Postby Omaha Cowboy » Thu Feb 09, 2017 12:16 pm

Well friends, The Don is going to take a more optimistic view (completely realizing we could find out tomorrow Sears gets whacked)..

I see Sears surviving this decade.. I think the niche customer base the company attracts (much like the clientele at the 50th and L Kmart) will be enough to keep Sears on life support for the next 5 years..

So yes, The Don does predict Sears will go the way of the dinosaur and "swim with the fishes".. Predicted end date- Spring liquidation- May, 2022...

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Re: Sears

Postby GRANDPASMUCKER » Thu Feb 09, 2017 3:48 pm

choke wrote:
Omaha Cowboy wrote:I'm really enjoying the great and thoughtful dialog/discussion in this thread..

Bringing this back to Sears in general, since it's been suggested the entire big box chain may not survive the calendar year, any predictions on the potential imminent demise of Sears?..

Let's go month/year on the prediction..

Or perhaps you see them hanging on for the foreseeable future..

Give us your projections...

Ciao..LiO...Peace


Read my lips. The Sears at the Crossroads will be there until the day that I die.


Trump is going to make America great again but I dont think its going to be in time for Sears! :mrgreen:

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Re: Sears

Postby Trips » Thu Feb 09, 2017 4:39 pm

Greg S wrote:I'm torn between February 2019 or 2020. I know they have been selling real estate holdings to stay afloat.

Greg


Read into their CEO Eddie Lampert and what he is doing. All of his decisions have been terrible and the corporate leadership is toxic. Eddies investment company is loaning Sears money to stay in business but those loans are backed up by the real estate. If Sears turns it around he makes a big return on his loan. If they go under he gets their most valuable properties in return for the loan. Win Win for him.

I say the liquidation of big box stores starts in January 2018. The smaller stores in Columbus, Fremont, Norfolk might survive like Radio Shack did.

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Re: Sears

Postby Omaha_corn_burner » Fri Feb 10, 2017 9:56 am

Big news from Sears today
http://www.marketwatch.com/story/sears- ... 2017-02-10
Sears Holdings Corp. SHLD, +27.74% shares soared 19.3% after the company announced a restructuring plan that aims to cut costs by $1 billion on an annualized basis and improve operating performance. Among the plans, Sears and Kmart corporate and support functions will be consolidated and data analytics will be used to optimize the product assortment at both Sears and Kmart.


The public comments on the story basically echo what most people are saying here.

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Omaha Cowboy
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Re: Sears

Postby Omaha Cowboy » Sat Feb 11, 2017 10:56 am

There's an article in the business section of today's W-H about Payless potentially closing 1000 stores and filing for bankruptcy.. From the W-H piece:

"Payless Inc. is in talks with its lenders over a restructuring plan that includes closing about 1,000 stores as it wrestles with an unsustainable debt load, according to people with knowledge of the matter.

The discount shoe retailer, which has stores in Omaha, Council Bluffs and Bellevue, also is reported to be considering filing for bankruptcy if it’s unable to reach a deal with the creditors."..

The story link:

http://www.omaha.com/money/payless-migh ... fda5d.html

Is Sears next or will they weather the storm? Stay tuned...

Ciao..LiO...Peace
Go Cowboys!

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Re: Sears

Postby Coyote » Sat Feb 11, 2017 8:00 pm

This latest round of 17 closures will bring the total number of stores that Sears has closed this fiscal year to more than 200.

That means the retailer will have fewer than 1,500 stores left by early 2017. That's down nearly 60% from 2011, when Sears had more than 3,500 stores.

Sears is shutting down stores to help stem losses from falling sales.

In the most recent quarter, Sears' revenue fell 13%, to $5 billion, and its losses widened to $748 million from $454 million in the period last year.

Same-store sales dropped 7.4%, including a 10% decrease at Sears stores.
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Re: Sears

Postby GRANDPASMUCKER » Sat Feb 11, 2017 9:54 pm

Omaha Cowboy wrote:There's an article in the business section of today's W-H about Payless potentially closing 1000 stores and filing for bankruptcy.. From the W-H piece:

"Payless Inc. is in talks with its lenders over a restructuring plan that includes closing about 1,000 stores as it wrestles with an unsustainable debt load, according to people with knowledge of the matter.

The discount shoe retailer, which has stores in Omaha, Council Bluffs and Bellevue, also is reported to be considering filing for bankruptcy if it’s unable to reach a deal with the creditors."..

The story link:

http://www.omaha.com/money/payless-migh ... fda5d.html

Is Sears next or will they weather the storm? Stay tuned...

Ciao..LiO...Peace



I bought 100 pair of shoes from that place in my life and then some. 30-40 years ago they had as a good selection of shoes as anyone. The shoes they been trying to sell the last few years were cheap as low end Walmart shoes and cost twice as much. As we can see that ain't going to work. Didn't think it would.

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Re: Sears

Postby Omaha Cowboy » Sun Feb 12, 2017 9:01 pm

So much for making Sears/Kmart "great again" (LOL). From the W-H business section:

"The list of companies dropping products that carry the Trump name grew this weekend, with two major U.S. retailers announcing that they're no longer selling Trump Home items online.

Reuters reported Saturday that Sears Holdings and subsidiary Kmart will discontinue online sales of 31 items from the Trump Home collection, which includes lines of living room and bedroom furniture, lamps and chandeliers."..

The complete story link:

http://www.omaha.com/money/sears-kmart- ... 7b779.html

Ciao..LiO...Peace
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