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> Sears gone soon?
Tim
post Jun 23 2011, 04:29 AM
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I can't quite imagine Marquette Mall without Sears.

http://finance.yahoo.com/family-home/artic...appear-2012-247

5. Sears

The parent of Sears and Kmart — Sears Holdings — is in a lot of trouble. Total revenue dropped $341 million to $9.7 billion for the quarter which closed April 30, 2011. The company had a net loss of $170 million. Sears Holdings was created by a merger of the parents of the two chains on March 24, 2005. The operation has been a disaster ever since. The company has tried to run 4,000 stores which operate across the US and Canada. Neither Sears nor Kmart have done well recently, but Sears' domestic locations same store numbers were off 5.2% in the first quarter and Kmart's were down 1.6%. Last year domestic comparable store sales declined 1.6% in the total, with an increase at Kmart of .7% and a decline at Sears Domestic of 3.6%. New CEO Lou D'Ambrosio recently said of the last quarter that, "we also fell short on executing with excellence. We cannot control the weather or economy or government spending. But we can control how we execute and leverage the potent set of assets we have." D'Ambrosio needs to pull a rabbit out of his hat soon. Sharex are down 55% during the last five years. D'Ambrosio's only reasonable solution to the firm's financial problems is to stop supporting two brands which compete with one another and larger rivals such as Walmart (NYSE: WMT - News) and Target (NYSE: TGT - News). The cost to market two brands and maintain stores which overlap one another geographically must be in the hundreds of millions of dollars each year. Employee and supply chain costs are also gigantic. The path D'Ambrosio is likely to take is to consolidate two brand into one — keeping the better performing Kmart and shuttering Sears.
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taxthedeer
post Jun 23 2011, 04:38 AM
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I know that Ace Hardware stores has been selling Craftsman brand of tools and equipment for quite some time now. Craftsman used to be exclusively sold at Sears.
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IndyTransplant
post Jun 23 2011, 07:12 AM
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QUOTE(taxthedeer @ Jun 23 2011, 05:38 AM) *
I know that Ace Hardware stores has been selling Craftsman brand of tools and equipment for quite some time now. Craftsman used to be exclusively sold at Sears.




Over the years (until probably the last 10 - 15 years), Sears used to be the best in customer service. You could rmake returns and exchanges without hassles and the stores were well stocked and well manned. The catalogs also were some of the best. Now, I am so sad to say, it is not even close to quality customer service. I think they brought themselves down. I had to argue over a Kmart return (bought online) for months. They did not send what I ordered, I returned it and no credit or replacement was given for months. Given the ease of shopping and the stellar customer service of some online places (like Amazon), the brick and mortar stores really need to provide friendly quality service, pleasurable shopping experiences and so many are sadly lacking.



That said, I always loved Sears Craftman and Kenmore products (of course Kenmore products are no longer really Kenmore products either).



I also love going though the homes or just driving past the homes built in the early 1900's from Sears Home building kits. When I visit family in Madison IN, I love to look at those homes. There are many Sears craft homes in Madison.


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Southsider2k12
post Jun 23 2011, 08:11 AM
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It is sad for the chain, and sad for Marquette Mall, and most sad for our local people working there, but their day is coming.

Sears has done an awful job of having some sort of identity with the consumers. They aren't cheap, but they aren't luxury. Other than tools, they don't really stand out for anything. If you want home improvement you think Lowes or Home Depot. If you think of electronics, you think of somewhere like Best Buy, or even a Wal-Mart. I don't know anyone who thinks of Sears for clothes. What does that leave? At least with the K-Mart band you think of cheap prices and good sales. Sears doesn't have that.

I have been waiting for years to see Penny's and/or Sears close at Marquette Mall.
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IndyTransplant
post Jun 23 2011, 08:40 AM
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QUOTE(southsiderMMX @ Jun 23 2011, 09:11 AM) *
It is sad for the chain, and sad for Marquette Mall, and most sad for our local people working there, but their day is coming.

Sears has done an awful job of having some sort of identity with the consumers. They aren't cheap, but they aren't luxury. Other than tools, they don't really stand out for anything. If you want home improvement you think Lowes or Home Depot. If you think of electronics, you think of somewhere like Best Buy, or even a Wal-Mart. I don't know anyone who thinks of Sears for clothes. What does that leave? At least with the K-Mart band you think of cheap prices and good sales. Sears doesn't have that.

I have been waiting for years to see Penny's and/or Sears close at Marquette Mall.






I actually have bought good electronics at Sears (my office phone set, Wii gameset, a tv years ago that I still have). We have bought several good appliances from them. I even occasionally have bought clothes from them - mostly online. They carry "Short" and those of you who know me, know I definitely qualify for "Short".

I am not a Wal-Mart shopper on personal principles (no offense to those of you who are - it is my own thing). I also do not tend to make longer car trips to buy anything, so trips to Valpo or Merrilville to go to Best Buy or other stores is not something I do.

I also prefer local stores. I like the newer consignment shop uptown on Franklin and, although I am not a big shoe buyer, Urbans Soles seems to really understand the concept of friendly quality customer service.

I hate that Sears has seemingly brought itself down and I fear that more brick and mortar stores are heading in that direction with the lack of good customer service. Face to face quality Customer Service, the ability to examine personally the products you are purchasing and a decent value for the quality could help them, but most are failing at least one of these (and many are failing at two). The first and most fatal, IMHO, cutbacks always seem to be in employees and customer service.





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taxthedeer
post Jun 23 2011, 08:59 AM
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I like ordering parts for my craftsman mower tractor on their www.searspartsdirect.com website. Just enter the model number and the parts diagram and schematics appear on the screen, just enter the part you need and in a couple days it's delivered right to your door. Other brands like John Deere, Simplicity and Cub Cadet it's a big hassle, you can only get parts through the local dealership like Frontier Lawn & Rec. or Rigg's Mowers & More which usually ends up costing an arm and a leg.
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taxthedeer
post Dec 27 2011, 12:35 PM
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Sears announced that they are going to close up to 125 more Sears and Kmart stores. Didn't specify which ones.
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Southsider2k12
post Dec 28 2011, 08:59 AM
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One thing I learned last night, is that the anchors at Marquette Mall all own their own space. It should make it a bit less likely for Sears to close there.
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Southsider2k12
post Dec 28 2011, 09:42 AM
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http://www.southbendtribune.com/business/s...0,5870651.story

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Major retailer to close stores
100 to 120 Sears, Kmart locations to be shut after poor holiday sales.

ANNE D'INNOCENZIO and MICHELLE CHAPMAN Associated Press

6:06 a.m. EST, December 28, 2011
NEW YORK -- Sears Holdings Corp. plans to close between 100 and 120 Sears and Kmart stores after poor sales during the holidays, the most crucial time of year for retailers.

The closings are the latest and most visible in a long series of moves to try to fix a retailer that has struggled with falling sales and shabby stores.

The company has numerous stores in the Michiana area: Sears stores at University Park Mall in Mishawaka, Woodland Crossing in Elkhart and Marquette Mall in Michigan City; and Kmart stores operating on McKinley Avenue in Mishawaka, as well as in Elkhart, LaPorte, Plymouth, Warsaw and Sturgis. There are Sears Hometown Stores at 4035 S. Michigan St. in South Bend, and also in Plymouth, Goshen and Dowagiac.

In an internal memo Tuesday to employees, CEO and President Lou D'Ambrosio said that the retailer had not "generated the results we were seeking during the holiday."

Sears Holdings Corp. said it has yet to determine which stores will close but said it will post on www.searsmedia.com when a final list is compiled. Sears would not discuss how many, if any, jobs would be cut.

The company has more than 4,000 stores in the U.S. and Canada. Its stock dropped $8.67, or 18.9 percent, to $37.18 in morning trading. The shares dipped to their lowest point in more than three years at $36.51 during the first few minutes of trading.

The company's revenue at stores open at least a year fell 5.2 percent to date for the quarter at both Sears and Kmart, the company said Tuesday. That includes the critical holiday shopping period.

Sears Holdings said the declining sales, ongoing pressure on profit margins and rising expenses pulled its adjusted earnings lower. The company predicts fourth-quarter adjusted earnings will be less than half the $933 million it reported for the same quarter last year.

Sears Holdings also anticipates a non-cash charge of $1.6 billion to $1.8 billion in the quarter to write off the value of carried-over tax deductions it now doesn't expect to be profitable enough to use.

Sears said it will no longer prop up "marginally performing" stores in hopes of improving their performance and will now concentrate on cash-generating stores.

"These actions will better enable us to focus our investments on serving our customers," D'Ambrosio said.

The weaker-than-expected performance reflects what analysts say is a deteriorating outlook for the retailer.

The results point to "deepening problems at this struggling chain and renewed worries about Sears survivability," said Gary Balter, an analyst at Credit Suisse. "The extent of the weakness may be larger than expected but the reasons behind it are not. It begins and some would argue ends with Sears' reluctance to invest in stores and service."

Balter also said Sears' weakening performance may lead its vendors to start to worry about their exposure.

The company has seen rival department stores like Macy's Inc. and discounters like Target Corp. continue to steal customers. It's also contending with a stronger Wal-Mart Stores Inc., the world's largest retailer, which has hammered hard its low-price message and brought back services like layaway, which allows financially stressed shoppers to finance their holiday purchases by paying a little at a time.

The tough economy hasn't helped, either. Middle-income shoppers, the company's core customers, have seen their wages fail to keep up with higher costs for household basics like food.

But the big problem, analysts say, is Sears hasn't invested in remodeling, leaving its stores uninviting.

"There's no reason to go to Sears," said New York-based independent retail analyst Brian Sozzi, "It offers a depressing shopping experience and uncompetitive prices."

Sears Holdings Corp., based in Hoffman Estates, Ill., said that the store closings will generate $140 million to $170 million in cash from inventory sales. The retailer expects the sale or sublease of real estate holdings to add more cash.

Sears Holdings appeared to stumble early in the holiday season, as it opened its Sears, Roebuck and Co. stores at 4 a.m. on Black Friday, the day after Thanksgiving. Rivals including Best Buy Co., Wal-Mart Stores Inc. and Toys R Us opened as early as Thanksgiving night. Sears stores had opened on Thanksgiving Day in 2010. Kmart has been opening on Thanksgiving for years.

A hint that trouble might be brewing came in mid-December when Sears Holdings unexpectedly announced that 260 of its Sears, Roebuck and Co. locations would stay open until midnight through Dec. 23.

Kmart's 4.4 percent decline in revenue at stores open at least a year was blamed on diminished layaways and a drop in clothing and consumer electronics sales. Part of Kmart's layaway softness likely stemmed from competitive pressure. Wal-Mart had said that its holiday layaway business had been popular. Toys R Us expanded its layaway services to include more items. Kmart's grocery sales climbed during the period.

Sears cited lackluster consumer electronics and home appliance sales for its 6 percent dropoff. Sears' clothing sales were flat. Sales of Lands' End products at Sears stores rose in the mid-single digits.

Sears Holdings said it also plans to lower its fixed costs by $100 million to $200 million and trim its 2012 peak domestic inventory by $300 million from 2011's $10.2 billion at the third quarter's end.

D'Ambrosio acknowledged in his internal memo that criticism over Sears Holdings' performance was likely to come, but that the company was prepared for the days ahead.

"We will bounce back and become stronger than ever," he said.
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Southsider2k12
post Dec 29 2011, 02:00 PM
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The first of the Sears closings list is now out. 79 stores are listed, with 100 to 120 expected. Michigan City is not on the list as of today. The St John's K-mart is the only store in the Region on the list.

http://searsmedia.com/tools/122711_close.pdf
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Southsider2k12
post Dec 30 2011, 12:08 PM
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The updated list now includes the Portage K-Mart. City still is safe with their Sears.
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taxthedeer
post Dec 30 2011, 03:42 PM
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QUOTE(southsiderMMX @ Dec 30 2011, 12:08 PM) *

The updated list now includes the Portage K-Mart. City still is safe with their Sears.

I'm sorry to hear that. Many of my friends that I attended high school with have been employed there pretty much their entire adult life.
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taxthedeer
post Dec 31 2011, 11:09 AM
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The Portage Kmart property has been acquired by Meijer. The Portage Kmart will be closing at the end of the month and Meijer will be taking over at that location. Unclear weather Meijer will move into the existing Kmart building or if the Kmart building will be demolished and a new Meijer store will be constructed on the same site. I remember when the Portage Kmart first opened in the late 80's when I was in high school. Everybody in Portage was excited because it meant they didn't have to go shop at the Kmart on U.S. 20 in the Miller section of Gary anymore. It wasn't much longer after that the Portage Kmart opened that the Kmart in Miller permanently closed it's doors, the vacant Miller Kmart on 20 still stands after closing nearly 25 years ago. You'll see a lot of semi's parked in their old lot quite often.
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Southsider2k12
post Jan 4 2012, 01:44 PM
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QUOTE(taxthedeer @ Dec 31 2011, 11:09 AM) *

The Portage Kmart property has been acquired by Meijer. The Portage Kmart will be closing at the end of the month and Meijer will be taking over at that location. Unclear weather Meijer will move into the existing Kmart building or if the Kmart building will be demolished and a new Meijer store will be constructed on the same site. I remember when the Portage Kmart first opened in the late 80's when I was in high school. Everybody in Portage was excited because it meant they didn't have to go shop at the Kmart on U.S. 20 in the Miller section of Gary anymore. It wasn't much longer after that the Portage Kmart opened that the Kmart in Miller permanently closed it's doors, the vacant Miller Kmart on 20 still stands after closing nearly 25 years ago. You'll see a lot of semi's parked in their old lot quite often.


If I had to bet, the demolish the existing site.

http://posttrib.suntimes.com/9811170-537/m...per-k-site.html

QUOTE
PORTAGE — The Super Kmart site at U.S. 6 and Willowcreek Road won’t be empty for long.

A Meijer Inc. spokesman confirmed Wednesday that the Grand Rapids, Mich.-based retailer has purchased the site and said the company is interested in Portage as a potential location for a Meijer store. “At this point, it’s very early in the consideration process, so I don’t have any other information to share,” said Frank Guglielmi, Meijer public relations director.

It would be Meijer’s first store in Porter County. The company has stores in Merrillville, Highland and in Michigan City.
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Southsider2k12
post Jan 30 2012, 11:26 AM
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http://www.nwitimes.com/business/local/kma..._medium=twitter

QUOTE
PORTAGE | Sears Holdings Corp. is planning to close a Kmart Super Center in Portage April 8.

The Hoffman Estates, Ill.-based parent of the discount retailer Kmart told the Indiana Department of Workforce Development that terminations of 209 employees would begin April 1. The Kmart is located at 6050 U.S. 6.

A spokesman for Grand Rapids, Mich.-based retailer Meijer Inc. said the company bought the Portage location and would be interested in putting a store there in the future. The company didn't provide a timetable for those plans.

Read more: http://www.nwitimes.com/business/local/kma...l#ixzz1kxnaKITA
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taxthedeer
post Jan 31 2012, 01:25 PM
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I would expect a Meijer store to go in that location immediately. Meijer didn't buy out that location for $40 million just to have the property sit vacant.
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taxthedeer
post Sep 2 2012, 10:05 AM
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I drove past the former Kmart property at US 6 and Willowcreek Rd. Friday night following the football game I attended. The building is in the process of being renovated to make way for the new Meijer store.
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ChickenCityRoller
post Sep 3 2012, 07:24 AM
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Speaking of Sear's Homes, there are two right here in M.C. albeit they've had multiple face lifts over the years

http://maps.google.com/maps?q=michigan+cit...273.89,,0,-1.93




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MCRogers1974
post Sep 3 2012, 01:02 PM
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QUOTE(ChickenCityRoller @ Sep 3 2012, 08:24 AM) *

Speaking of Sear's Homes, there are two right here in M.C. albeit they've had multiple face lifts over the years

http://maps.google.com/maps?q=michigan+cit...273.89,,0,-1.93

Many years ago I sold one of these Sears sold homes. (I was a real estate broker in those days). The Sears sold homes were "kit" type packages - match up floor section "A" with sill plate "A" and nail together. An interesting concept.
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taxthedeer
post Oct 23 2014, 06:30 PM
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77 more Sears and Kmart stores are closing sometime before Christmas. 46 Kmart stores and 31 Sears stores.


http://wgntv.com/2014/10/23/77-sears-kmart...fore-christmas/
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