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Topic: Attention, Kmart
Shoppers: Flat-Line Special |
Attention, Kmart
Shoppers: Flat-Line Special
Bloomberg News, by Roben Farzad
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Original Article
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Posted By:NorthernDog, 11/15/2012 9:55:13 AM
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| Kmart, the discounting pioneer owned by Sears Holdings (SHLD), is in the throes of a mass shutdown of stores. After a bad 2011 Christmas, Sears Holdings said it would close up to 120 Sears and Kmart locations; as of January, there were just over 1,300 Kmarts in the U.S. and territories, 800 fewer than a decade earlier, when Kmart slid into bankruptcy as an independent company. In February, the parent posted its biggest quarterly loss in at least nine years. It lost $132 million in the July quarter, and analysts expect another loss, on a 10 percent drop in sales
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Comments:
K-Mart is barely alive and gets weaker every day.
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Reply 1 - Posted by:
DARling, 11/15/2012 10:17:48 AM (No. 9015896)
It used to be a great company, until some terrible CEOs took the helm. Local conttrol was wrested away from the managers, so stores were sent what some numbers-cruncher thought the store should have, rather than what it needed. Then hours were cut, leading to the loss of employees who´d been around for decades in some instances.
Service has tanked and the stores, even the remodeled ones, look like they´re stuck in the 70s. If someone wanted a chain to fail, they certainly picked the right people to take them down.
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Reply 2 - Posted by:
joew9, 11/15/2012 11:36:15 AM (No. 9016174)
The biggest problem Kmart has is Walmart. Kmart has not kept up with Walmart. All the Kmarts in my area are inferior to Walmart. They seem like sad run down stores. I think they have a problem with the Kmart brand because it has been a sad run down store for quite a long time. They probably need to change the name and totally spruce up the whole thing.
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Reply 3 - Posted by:
secondtimelucky, 11/15/2012 1:12:41 PM (No. 9016469)
in our market there is a K-Mart across the street from Wal Mart. The KM lot is always empty or nearly so. The WM lot is always full. Granted, the WM is a SUPER so there is a full line grocery store inside. But the KM is sad. You go in the doors and you´re immediately depressed. However, if you can find what you´re looking for, there are never any lines!!
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Reply 4 - Posted by:
Starfire, 11/15/2012 1:38:03 PM (No. 9016523)
I´d miss Kmart for one of my prescriptions ($15 a month there instead of $135 at Walmart) and for their shoe department. Otherwise, I find very little there to spend my money on.
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Reply 5 - Posted by:
harper, 11/15/2012 3:25:00 PM (No. 9016761)
Oh, well, after Sears has managed their holdings right over the cliff, their management "talent" will be able to move seamlessly over to the upper echelons of the Republican Party.
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