why is sears on the way to bankruptcy?

[69GTX]

My local Sears store is a showcase. Very clean, bright and professional atmosphere, helpful sales people. Despite all that I rarely go there, never mind buy anything. Tried to buy a torque wrench on sale there last year and finally figured it was probably junk. Also tried to buy a car battery but they didn't have what a I needed....found it 5 miles away for $30 less. While I walk through the store annually, can't recall how many years it has been since I bought something.

 

[Danno]

Just bought all my appliances at Sears for a home reno - spent about $15,000. Appliance rep is what I would call an appliance whisper - super knowledgeable, not pushy, and matched or bettered any price I could find online.
I asked her if she did well in her profession - like top 10 in Canada and she said yes.

So, I do recommend her to anyone looking at appliances - a rare find no doubt.

 

[Nick1994]

Originally Posted By: Nick1994
Originally Posted By: motor_oil_madman
So why is this company on the verge of bankruptcy?
Uh, have you walked into a sears in the last 20 years?

Me neither.

Ok I did once last year and got a 5 quart jug of Quaker State for $2. That's why I went there.

It was like walking into a different world it was so run down, out of date, and dirty.
I was speaking more for Kmart, but Sears works too. They're closing some Sears here.

 

[Ohle_Manezzini]

Kmart plus internet sales.

 

[4WD]

Isn't this another re run ? - or do we just need endless pile on's and beat downs on this site ?

 

[double vanos]

If nothing else Sears was noted for good tools. Think of how many mechanics started out with a Sears complete tool kit - you could fix a lot of stuff with that basic kit and it was within reach of most folks. When one thinks of Sears, Craftsman tools come instantly to mind. Along with other things, Northern Tool and Harbor Freight has done some serious damage to Sears. My Dad and I recently went into a Harbor Freight store and noted that for about $3000 one could put together a complete wood working shop. And I mean COMPLETE. But what really hurts is that both HF and NT products are slowly getting better and better, to the point of people shirking established name brands for HF and NT.
The times, they are a changing....

 

[gfh77665]

Originally Posted By: 4WD
Isn't this another re run ? - or do we just need endless pile on's and beat downs on this site ?


Posters here love to beat down on Sears. They actually WANT it to die, and eliminate jobs and competition.

The real reason its hurting is Walmart, Lowes, Home Depot, Costco.

 

[spackard]

They should put HFs in their tool dept. floor spaces. Traffic would go up.

Repeat similar moves with other departments.
They have real estate; other stores have customers, but declining B&M traffic.
It'll be the next "mini-mall".

 

[Parung]

Its very hard to compete with big players that are already established. Its becoming more difficult year after year because of the heavy competition in this field.

 

[SumpChump]

In WI the name Craftsman is stronb but Sears is dying. Our large Sears is a ghost town except for the appliances and some suspicious fellas whom seem to meet in the rest room. It is so outdated it is wonderfully nostalgic. Same goes for our Kmart. Feels small, quiet, poorly layed out. I love it. I'm a fool fir nostalgia.

 

[CapitalTruck]

KMart was on the way out...Sears then bought them. I don't understand why they did that. They cheapened the Craftsman brand by selling at KMART.

 

[4WD]

Think they should retreat to small towns when they can profit from real estate liquidity. Many folks don't realize Walmart did not start in the big city. Our small Sears is packed with appliances and mowers and tools - and has two employees. The store manager helps me load things. That kind of store does not make huge profits - but I have little doubt it makes money. I know a rich guy who does not have a big bank in Texas - he has 180 branch banks - know what I mean ?

 

[itguy08]

Originally Posted By: double vanos
If nothing else Sears was noted for good tools. Think of how many mechanics started out with a Sears complete tool kit - you could fix a lot of stuff with that basic kit and it was within reach of most folks. When one thinks of Sears, Craftsman tools come instantly to mind. Along with other things, Northern Tool and Harbor Freight has done some serious damage to Sears. My Dad and I recently went into a Harbor Freight store and noted that for about $3000 one could put together a complete wood working shop. And I mean COMPLETE. But what really hurts is that both HF and NT products are slowly getting better and better, to the point of people shirking established name brands for HF and NT.
The times, they are a changing....


This is spot on. Have lots of Craftsman tools - the hand tools while not Snap-On quality were decent, made in the USA, and had a great warranty. Now they are made Offshore, expensive, and not made well but have a great warranty. I figure if I'm buying overseas tools I may as well save some $$ and head over to Harbor Freight and have the same or better for less $$.

Power tools have been migrated from Craftsman C3 to Milwaukee M12 and M18. They are killing that C3 lineup.

We do have Kenmore washer and dryers that are LG made and have been flawless. I used to like to shop for appliances at Sears - prices were decent, delivery was good and they were generally knowledgable. I shudder to have to buy appliances from HD or Lowes.

 

[Nickdfresh]

Originally Posted By: bioburner
I couldn't believe that Kame apart bought them after they had major problems. Two failures don't make a good company.


I believe Kmart was doing well for a bit because they had low overhead (read no capital improvements) and some of the stores were on their own properties and staying afloat was more about taking control of the properties. I think they thought buying Sears was sort of doubling down but obviously they were just bilge pumping out the water of a sinking ship. This was maybe 5-10 years ago IIRC...

 

[dishdude]

They've already spun Craftsman, Diehard and Kenmore off as their own companies and are looking to sell them.

Sears and Kmart just didn't keep with the times and invest in the business, we think of them as places our Grandparents shopped.

 

[Rolla07]

Seems like pre bailout GM days..just keep doing what hasnt worked and hope people change rather than changing to embrace the new generation. Lack of ability to adapt...I wont be sad to see Sears go...wish they would start liquidating already..they are dragging out the inevitable now..

 

[4WD]

These kind of posts bring out all the business experts with IT support jobs !

 

[Rock_Hudstone]

Personally, I love the local K-Mart (and Sears sometimes).

Their clearance deals are unbeatable if you look for them. I picked up a 20Lb bag of grass seed last moth for $16 at K-Mart.

Cheapest one at Home Depot that size was $42.95

 

[Gasbuggy]

Sears Auto still does well.

 

[E365]

I live a mile from the Sears store at the Mall of America. You'd think it would be a "flagship" type store but it's generally depressing in there. LOTS of empty shelves, poor lighting, outdated everything, etc.