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[Bar-B-Lew]

It's been in business news for the last several years and heated up a lot last week.  They had a big debt payment due today that they couldn't make so they filed at 3:30 this morning or something like that.  They claim they are only shutting an additional 132 Sears/Kmart stores.  Toys R Us was generating positive cash flow and couldn't make it through a restructuring.  I don't see Sears making it either.  I suspect there will be news about them liquidating before or during Spring 2019.

[pmillen]

They were, at one time, the world’s biggest retailer.  The next time you hear that the dominance of other companies (i.e., Amazon, Walmart or Facebook) will never end, think about Sears.  It can end—and it probably will.

[hughver]

60 years ago Sears was the "to go" place for almost anything that you needed except food. At that time their products were more than acceptable, quality wise. I still have/use Craftsman tools and Sears vacuum cleaner. I for one will miss them.   

[Bar-B-Lew]

They were, at one time, the world’s biggest retailer.  The next time you hear that the dominance of other companies (i.e., Amazon, Walmart or Facebook) will never end, think about Sears.  It can end—and it probably will.

Well, if you have ever been in the corporate HQ of both Sears and WM, you will realize quickly that Sears put their money in a place other than keeping their business and stores current and WM focuses all of their attention on Operations and not a corporate image.

5+ years ago the individual brands of Sears were worth more than the stock valuation of the company.  They should have sold everything off then.  Sad day for our country, and will be even sadder when they close for good after failing to come out of CH11 bankruptcy restructuring successfully.

[pmillen]

In 1987 Donald Katz chronicled Sears in his book, The Big Store.  He tells of the downward spiral of catalog sales that had historically boosted in-store revenue, of their building the world’s tallest building where corporate buyers conducted their bitter fights with regional and store managers and executives sat dictating lengthy memos that had little or nothing to do with what was happening inside the stores.  I’d read it again if someone would update it by adding the last 30 years.

Sears has been in business since 1893, 125 years.  Their corporate culture was set long ago.  Sears executives have spent their entire careers doing things a certain way.  As is so often the case, they can’t change, even as the world changes around them.

[BigDave83]

Sears has sold off al of their brands, or the names anyways. You can buy craftsman tools at Ace and kenmore appliances as other places now. I remember the big 3 Sears, JC Penny and Montgomery Wards when it came to catalogs. They sold everything, I know my first 22 rifle came from JC Penny, Sears had a little catalog just for fishing, one for hunting/shooting I would get my parents to order me cases of ammo from sears, because as  kid I went through a lot of 22 ammo and 12 gauge shells.

[Bar-B-Lew]

In 1987 Donald Katz chronicled Sears in his book, The Big Store.  He tells of the downward spiral of catalog sales that had historically boosted in-store revenue, of their building the world’s tallest building where corporate buyers conducted their bitter fights with regional and store managers and executives sat dictating lengthy memos that had little or nothing to do with what was happening inside the stores.  I’d read it again if someone would update it by adding the last 30 years.

Sears has been in business since 1893, 125 years.  Their corporate culture was set long ago.  Sears executives have spent their entire careers doing things a certain way.  As is so often the case, they can’t change, even as the world changes around them.

The Sears executive team turned over about every 6-12 months during the last 5+ years.  And their teams below them almost as fast.

[pmillen]

Sears executives have spent their entire careers doing things a certain way.  As is so often the case, they can’t change, even as the world changes around them.

The Sears executive team turned over about every 6-12 months during the last 5+ years.  And their teams below them almost as fast.

True about their current, peak, positions but almost all of them have been at Corporate, in decision-making positions, for a few years.  Ladley came from Ralph Loren (I think) less than two years ago.

Edward Lampert, Chairman & CEO ............................................. 2004
Robert A. Riecker, Chief Financial Officer...................................... 2011
Greg Ladley, President of Apparel and Footwear............................ 2017
Dean Schwartz, President, Hardlines (Svc. Date 1993), CHQ.......... 2009

[Bar-B-Lew]

But Sears was broken before Lampert bought them.  Things spiraled from there.  The company was built by identifying the needs of people and providing them with a quality product or service at a fair price.  They just didn't keep up with a changing world.  I remember being in a presentation of their's at the corporate HQ about 10 years ago.  They were talking about wanting to create online orders for people to pick up product at store.  That was going to be their only online option.  They were not looking at delivery to your home.  They also had very little if any grocery products.  If people are going to leave their house to make purchases, they want to buy everything on one trip if they can.  I could provide countless examples of where other companies filled the needs of people and Sears/Kmart missed the boat but I'm through with the discussion.  No value in beating this dead horse anymore as they most likely will not see 2019 and almost certainly won't see the end of 2019 IMO.

[cookingjnj]

Yeah it is tough, but for whatever the reason, it is always hard to see an Icon of any industry disappear.

[Deebo1133]

It’s sad. I worked at my local sears for 5 years in the mid to late 90’s as a high schooler and young college student. The store was busy year round. The whole month of December we used to have to park across the street behind a toys r us in their overflow parking lot and get bus’d to the store for your shift because they wanted to reserve every last mall parking lot for shoppers......and they were full....every single spot. Today, the toys r us is closed and there are never more than a hand full of cars in the expansive mall parking lot. Two of the 3 “anchor stores” are gone and you have Sears barely hanging on by a thread. Amazing how quickly things change.


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[Bentley]

I maybe way off on this, but I thought I saw it when I toured it....the childhood home of President Nixon was bought as a kit from Sears and sits on his Library grounds in Yorba Linda!

[bten]

Interesting to see how in many ways, Sears and Amazon made their mark by making it easy to shop at home.

Sears with the Catalog, and Amazon with the internet.

Technology changed, and Sears didn't.

[pmillen]

I maybe way off on this, but I thought I saw it when I toured it....the childhood home of President Nixon was bought as a kit from Sears and sits on his Library grounds in Yorba Linda!

It's possible.  Sears sold kit homes from their catalog.  You could buy a Volkswagen engine from the catalog when I was a kid.

[yorkdude]

Take a quick gander at the catalog prices on the online auction sites, some of them are getting some pretty decent money.