Shopko

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Dreamer
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Shopko

Postby Dreamer » Sat Jun 14, 2008 5:43 pm

Shopko on 84th Street is going  to be closing up by the end of the year or beginning of next year. They are building a new store in Council Bluffs and with the new Walmart opening up  on 72nd will kill most of their business soon anyways.

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Postby jtshaw » Sun Jun 15, 2008 1:35 pm

The ShopKo at 90th & Fort appears to be holding its own with the Wal-Mart SuperCenter at I-680 & Blair High Road.  ShopKo invested a lot to renovate the store, and I find it a pleasant place to shop.  ShopKo's corporate management has--in my opinion--done a good job of adjusting the mix and quality of the chain's merchandise to distinguish their stores from Wal-Mart.  I suspect that the closure of the 84th Street ShopKo reflects the general malaise in retail as much as the 72nd Street Wal-Mart.  That said, competing with Wal-Mart is not for the faint of heart.

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Postby Dreamer » Sun Jun 15, 2008 3:03 pm


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Uffda
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Postby Uffda » Sun Jun 15, 2008 7:36 pm

Well this probably is not going to help the newly remodel Fredrick Square

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Postby Dreamer » Sun Jun 15, 2008 9:26 pm

The landlord remodeled it to try and keep Shopko there but it  is a two year lease on it and that started last year so it is about up.They also cut all the hours at the stores starting opening up at 9am instead of 8 am and closing early.That really hurts the employees with being full time .Then they lose their benefits of health care.
They laid off all 3rd assistant managers,making the pharmacists work longer hours,cutting out full time people , cutting the smarter  District manager  and giving it to someone who they can pay less and I could go on and on.
There was a article on greenbaypressgazette on May 26th I think that they are $300 million in debt.I will have to search again on there to find it.

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Postby nativeomahan » Sun Jun 15, 2008 10:50 pm

This news sucks.  I shop there about once a month.

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Brad
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Postby Brad » Mon Jun 16, 2008 8:51 am

Where did you hear this?
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Brad
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Postby Brad » Mon Jun 16, 2008 9:12 am

I was asked to post this:

Trenton Magid, president of Coldwell Banker Commercial World Group and broker in charge of leasing Frederick Square wrote:Trenton Magid, president of Coldwell Banker Commercial World Group and broker in charge of leasing Frederick Square, talked with the Vice President of Real Estate at Shopko today.  Shopko signed a new multi-year lease which just started February 1, 2008.  According to the Shopko representative, they are “definitely not closing the store and people need to realize we need critical mass in the Omaha market.”  The new store in Council Bluffs will complement their other four stores.  When asked whether the new Wal-Mart on 72nd Street will affect the Frederick Square store, the Shopko rep responded that his store is on 84th Street and does not consider that store as direct competition.
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Stargazer
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Postby Stargazer » Mon Jun 16, 2008 10:14 am

Again, the old Saddlecreek Target location would seem to be a perfect spot for Shopko... I'm sure they would find many loyal new customers there.

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Postby Dreamer » Mon Jun 16, 2008 11:01 am

Investors contest Shopko Sale.Six lawsuits allege deal falls short.

Investors have filed six lawsuits against Shopko Stores Inc. alleging a propsed #24-a-share deal to sell the retail chain shortchanging shareholders.Golder Hawn a minneapolis based private equity investment company has agreed to buy publicly traded Shopko for $24 a share or about $715 million for about 29.8 million shares.WITH THE ADDITION OF $330 MILLION IN DEBT Golder Hawn will assume the deal is worth just more than $1billion.The slae announced April 9th is expected to close by the end of July.
The lawsuits filed by minority shareholders ask that the sale be halted and want Shopko exec to re-evalute the deal and allow open bidding or an outside accounting of the company's assets.
According to documents filed in Brown County Court earlier this month four investment groups and two individuals claim former Shopko executives and the company making a bid for the stores and have crafted a deal that undervalues the real estate on which the company's stores sit.
Immediately after the announcement the company's shares trade $2 above the agreed upon price meaning that some investors were speculating a better deal would come along.Shopko shares traded under the SKO symbol on the New York Stock exchange closed at $24.16 on Thursday.
The lawsuits contend the deal all but rulws out other bids by requiring Shopko to pay Golder Hawn $27 million if it pulls out.Any other bidders for the retailer would be at a disadvantage because the Shopko officers who helped craft the deal had inside knowledge of the corporation's real estate holdings and their values the suits said.The pending deal alsp dictates that if Shopko does not receive any other offers the current bidders get to see the offers and have a right to make a matching offer.
Lawyers for the plaintiffs have asked Brown County Circuit Court- Judge Kendall Kelley to combine all six suits and that the court condsider making the case a class-action suit which would represent the interests of all shareholders who want to join the action.
A hearing is set for May 4th.
The plaintiffs allege Shopko owns the property and buildings for 116 of it's 140 stores with only 15 having mortages.The suit also says Shopko owns the property and buildings for 63 of it's subsidiary Pamida stores.
The investors allege the Shopko and Pamida stores as real estate are worth an estimated $1.15 biliion whichis $400 million more than the figures used in finincial figures.Calculating other figures in the equation such as equity and debt at least one of the suits allege the fairmarket price for the company is $34 a share .Another analyst from the same lawsuit estimated Shopko's worth at $31 a share.
Considering either figure and there are about 29.8 million shares of Shopko stock out standing that means the deal is undervalued between $208.6 million and $298 million.That's money that should go to the stockholders the suits allege.
The suits allege that Jack Eugster Shopko's former chairman of the board and other board members failed to negotiate the best deal possible for shareholders.
Shopko denies the allegations.

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Postby nativeomahan » Mon Jun 16, 2008 10:21 pm

I guess we can now say that their is a rumor that Shopko is NOT closing the 84th St. store.  I hope that rumor is correct, although I note that they have not remodeled this store...whereas they have remodeled their other Omaha area stores.  And it is increasingly difficult to find anyone working a checkout lane at the 84th St. store.

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Postby Coyote » Wed Jan 04, 2012 12:36 pm

[font=Georgia]Omaha-based Pamida, Shopko to merge[/font]

Leia Mendoza WORLD-HERALD STAFF WRITER wrote:Over the next year Pamida stores will be converted to the Shopko Hometown store format and will be rebranded as Shopko, officials said Wednesday. The resulting chain will have nearly 350 locations in 22 states.

The combined company, which will be headquartered in Green Bay, will be led by Shopko President, Chairman and CEO W. Paul Jones. Pamida President and CEO John Harlow will serve on the leadership team and help direct the integration process.
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Postby Greg S » Fri Jan 06, 2012 9:35 am

This is a really dumb question but I thought they had already merged a few years ago?  Did that not happen?  

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Postby icejammer » Fri Jan 06, 2012 10:17 am

Greg S wrote:This is a really dumb question but I thought they had already merged a few years ago?  Did that not happen?  

Greg


Pretty sure they did 10-12 years ago, but then they sold Pamida off (I think?).
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Postby nebugeater » Fri Jan 06, 2012 10:51 am

Greg S wrote:This is a really dumb question but I thought they had already merged a few years ago?  Did that not happen?  

Greg


I believe that Pamada was bought by Shopko a few years ago but they continued to operate as separate business units.  Now as I read this they are bringing both units under one umbrella.  That being said this is from memory and may be wrong.
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Postby GaryFL » Mon Jan 09, 2012 6:52 pm

Greg S wrote:This is a really dumb question but I thought they had already merged a few years ago?  Did that not happen?  


Yes and no.

Shopko and Pamida are both owned by Sun Capital, a private capita group. What they did before was try to merge operations but maintain two separate companies. This didn't work terribly well. I don't know a lot of details because this was before I joined Pamida in 2008. At that time they were just finishing up the separation, which had started about a year before that. For the last three years, Pamida has operated independently of Shopko, sharing only a few things like distribution centers.

What's happening now is that all Pamida stores will become Shopko stores. Pamida will cease to exist; this is scheduled for spring 2013. Also, the Pamida store Support Center on F Street will close. Shopko is recruiting and interviewing Pamida employees for positions in Shopko, but they mostly require relocation to Shopko's corporate office in Green Bay, Wisconsin. There is talk of keeping some employees here in Omaha, but nothing concrete yet.

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Re: Shopko

Postby Brad » Tue Sep 12, 2017 4:33 pm

All shopko stores in Omaha and Bellevue are closing when their leases expire. 84th and Center at the end of this year, followed by Bellevue, then Oakview at the end of next year.

The Shopko eyecare in the 84th and Center location is moving out to the parking lot in the bay next to Tacoville and Sprint and will be run as a freestanding location.

Shopko is going to focus on the small town stores.
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Re: Shopko

Postby Padre » Tue Sep 12, 2017 7:30 pm

Brad wrote:All shopko stores in Omaha and Bellevue are closing when their leases expire. 84th and Center at the end of this year, followed by Bellevue, then Oakview at the end of next year.

The Shopko eyecare in the 84th and Center location is moving out to the parking lot in the bay next to Tacoville and Sprint and will be run as a freestanding location.

Shopko is going to focus on the small town stores.


I can't say I'm surprised. There never seems to be very many people in the 84th and Center location when I've been there.

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Re: Shopko

Postby GrandpaaSmucker » Tue Sep 12, 2017 8:05 pm

I had lunch at the Pizza Ranch today at 84th Center and afterwards I walked into Shopco to see take a quick look around. The place was dead and I didn't buy anything. As I was walking around I came upon a clerk stocking the shelves with Christmas items. :roll: This place is pretty overpriced and I really want to say good riddance but its still better then nothing.

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Re: Shopko

Postby Coyote » Tue Sep 12, 2017 8:52 pm

Given the fact that the Stonybrook ShopCo is still vacant does not bode well for retail space. Maybe Fredericks Square can get a Sheplers... :roll:
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Re: Shopko

Postby skinzfan23 » Wed Sep 13, 2017 8:22 am

I agree that Shopko looks pretty dead. I have visited the Bellevue location many times and with the exception around Christmas, the store is usually pretty vacant. I can say that they do have pretty good sales once in a while, but the everyday prices are a little steep for what they are.

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Re: Shopko

Postby skinzfan23 » Fri Sep 22, 2017 3:01 pm

Great job Brad, beat the World Herald by 10 days on this news.

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Re: Shopko

Postby bbinks » Mon Sep 25, 2017 1:57 pm

skinzfan23 wrote:I agree that Shopko looks pretty dead. I have visited the Bellevue location many times and with the exception around Christmas, the store is usually pretty vacant. I can say that they do have pretty good sales once in a while, but the everyday prices are a little steep for what they are.



Problem with the sales, at least at the 90th location, is that they rarely had the items in stock.

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Re: Shopko

Postby Silverspoon » Mon Sep 25, 2017 5:38 pm

I dont believe Shopko is serious about restocking certain pieces of merchandise. My business is in gaming retail, and I bought the following locations out of stock on 3 Nintendo titles that they were selling for way too cheap, and they were never restocked, even though they are a hot item still.

144th Center
84th Center
Bellevue
Plattsmouth
Harlan, IA

I also happened to buy out the Falls City store on those games, but I never went back to check for restock because its like 3 hours away.
I AM THE MILLARD RAPIST

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Re: Shopko

Postby GrandpaaSmucker » Fri Nov 24, 2017 10:30 am

Pretty funny seeing the Thanksgiving Day edition of the paper on the porch wrapped inside of a big Shopco Black Friday advertisement bag. I wonder I thought if this company would actually be incompetent enough to spend the money running that ad and then not even having a Shopco open in Omaha. IN short yes they are that stupid. The ad said the sale started Thursday at 5pm and as luck would have it I was driving past the 84th street store just about then. The parking lot was empty. This is why Shopco and Kmart are going out of business not because of Amazon or Walmart or anything else.

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Re: Shopko

Postby FirebirdEngineer » Fri Nov 24, 2017 12:26 pm

GrandpaaSmucker wrote:I wonder I thought if this company would actually be incompetent enough to spend the money running that ad and then not even having a Shopco open in Omaha.


Apparently, you're not aware the location at 144th and West Center is still open, and was packed last night for the doorbuster sale.

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Re: Shopko

Postby NovakOmaha » Fri Nov 24, 2017 1:24 pm

FirebirdEngineer wrote:
GrandpaaSmucker wrote:I wonder I thought if this company would actually be incompetent enough to spend the money running that ad and then not even having a Shopco open in Omaha.


Apparently, you're not aware the location at 144th and West Center is still open, and was packed last night for the doorbuster sale.


Facts, facts, facts. Is that all you've got? Facts? :P

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Re: Shopko

Postby GrandpaaSmucker » Fri Nov 24, 2017 3:35 pm

NovakOmaha wrote:
FirebirdEngineer wrote:
GrandpaaSmucker wrote:I wonder I thought if this company would actually be incompetent enough to spend the money running that ad and then not even having a Shopco open in Omaha.


Apparently, you're not aware the location at 144th and West Center is still open, and was packed last night for the doorbuster sale.


Facts, facts, facts. Is that all you've got? Facts? ;P


I got an old buzzard from Detroit City trolling me. I got that for all its worth. :lol:

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Re: Shopko

Postby NovakOmaha » Sat Nov 25, 2017 6:35 pm

GrandpaaSmucker wrote:
NovakOmaha wrote:
FirebirdEngineer wrote:
GrandpaaSmucker wrote:I wonder I thought if this company would actually be incompetent enough to spend the money running that ad and then not even having a Shopco open in Omaha.


Apparently, you're not aware the location at 144th and West Center is still open, and was packed last night for the doorbuster sale.


Facts, facts, facts. Is that all you've got? Facts? ;P


I got an old buzzard from Detroit City trolling me. I got that for all its worth. :lol:


Hey! I resemble that remark!


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