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Sears, Kmart, Family Dollar Sales Plunge
ABC News, by Richard Davies

Original Article

Posted By:NorthernDog, 1/10/2014 2:41:33 PM

Sears and K-Mart stores are facing major questions about their future plans after their parent company reported dismal sales for the holiday shopping season. Sears Holdings says it expects a loss of as much as $914 million for 2013. The struggling retailer also says its sales from stores open at least a year fell 7.4 percent for the quarter in the United States. Sears shares plunged in after-hours trading, falling nearly 14 percent. Despite signs of improvement for the U.S. economy, Sears and other low-end retailers had a miserable Christmas. Walmart shares are down nearly 3 percent in the past

Comments:
The Family Dollar store in our area is not much cheaper than other places. And the check-out line is perpetually understaffed.

      


Post Reply  

Reply 1 - Posted by: Spidey, 1/10/2014 2:59:19 PM     (No. 9687198)

I wonder if this sudden burst of bad economic news is to help Obama push MW and unemployment extensions trough?

I could have sworn I heard over 200,000 jobs created last month a week ago and now it´s down to 74,000?

Unemployment rate at 6.7%?? Who makes this stuff up?

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Reply 2 - Posted by: Persecutor2, 1/10/2014 2:59:53 PM     (No. 9687200)

What "signs of an improving economy"?? Record unemployment in absolute terms (ie labor-force participation), weakest job growth in years, retail activity in the doldrums. Is the MSM starting to believe their own lies, or is it that they just can´t help themselves from trying to prop up their empty-suit creation in the WH?

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Reply 3 - Posted by: suziesuburbanite, 1/10/2014 3:03:27 PM     (No. 9687202)

And the Oconomy keeps on keeping on. Meanwhile lets spend the news time chasing Christie

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Reply 4 - Posted by: BaseballFan, 1/10/2014 3:04:17 PM     (No. 9687203)

12.5% drop in Sears Holdings today.

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Reply 5 - Posted by: KTWO, 1/10/2014 3:10:05 PM     (No. 9687206)

Maybe those ~200,000 new hires that didn´t exist weren´t spending enouugh in December?

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Reply 6 - Posted by: Reddoggie, 1/10/2014 3:15:11 PM     (No. 9687211)

Family Dollar can help itself by cleaning its stores. Their stores are always dirty and smelly.

Sears has had its heyday. Until mall sprawl they were the only game in town. Then they continued to charge higher prices than their newer competitors - well after customer loyalty fell off.

Come on - get a clue.

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Reply 7 - Posted by: P51DMustang, 1/10/2014 3:38:04 PM     (No. 9687231)

The economy never improved, unemployment has not improved. People have stopped buying and unemployment adjusted for those people who have stooped looking is about 13%,

The only thing growing is Federal, State, and local government budgets and employees

Just one more lie coming from The LIAR in Chief Obama.

The rosier outlook is coming from the Bureau of Labor Statistics. Who have published false data for the last two quarters, ...who would have thunk it.

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Reply 8 - Posted by: tomanderson61, 1/10/2014 4:02:30 PM     (No. 9687251)

Family Dollar stores truly DO stink, and staff their stores quite often with only two people, so good luck trying to keep the stores in shape. You get what you pay for.

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Reply 9 - Posted by: FlatCityGirl, 1/10/2014 4:10:27 PM     (No. 9687254)

I´m not familiar with Family Dollar. We have Dollar General here, and I really like the stores. I haven´t been in a Sears or K-Mart in probably 5-7 years. The last time I was in either one, the stores were basically trashed, and I won´t even mention the class of shoppers that crowded the aisles. Ugh.

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Reply 10 - Posted by: bamapreacher, 1/10/2014 4:30:08 PM     (No. 9687276)

Dollar General, at least here in the south, has added fresh and frozen food to their inventory, some of which is quite good. They have a terrible checkout clerk problem, but the new stores are bright and clean, and far better than Family Dollar.

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Reply 11 - Posted by: mossley, 1/10/2014 4:40:53 PM     (No. 9687290)

#9, the Family Dollars I have been in can´t be compared to Dollar General. FD are more expensive and the stores are dirty and cluttered. The staff at the two in my area are actually decent, but then I don´t treat them like crap, which seems to be the norm for other customers.

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Reply 12 - Posted by: JHHolliday, 1/10/2014 5:09:21 PM     (No. 9687320)

#7 nails it. The economy still sucks overall. The only reason a few sectors look better is that there was nowhere for them to go but up.

Quite frankly, a lot of people don´t have the extra money to spend and others are trying to pay down debt. Add the unease and mistrust of the current administration along with fear of what Obamacare is doing and it´s no wonder that people are watching their dollars.

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Reply 13 - Posted by: bobn.t, 1/10/2014 5:12:34 PM     (No. 9687325)

For Sears and K-Mart, the end is near.
I hope the feds break up Walmart, like they did AT&T.
Walmart is not good for its employees nor the country, should change name to China-mart.
If unemployment payments are good for the economy, why not give everyone unemployment monies to spend. Such stupid Keynesian philosophy.

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Reply 14 - Posted by: seminolesecure, 1/10/2014 5:45:42 PM     (No. 9687379)

I am tired of hearing that "Walmart is not good to their employees". As to K-Mart, it is a hell hole. Why did Sears buy it? Pretty boneheaded move if you ask me. Family Dollar I am not familiar with.

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Reply 15 - Posted by: reefdiver, 1/10/2014 6:22:16 PM     (No. 9687431)

Maybe those 90 million people not working are also not shopping at these stores.

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Reply 16 - Posted by: ColonialAmerican1623, 1/10/2014 7:25:22 PM     (No. 9687501)

Read my lips: the unemployed and underemployed don´t have money to spend or keep up with the first grifters.

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Reply 17 - Posted by: chance_232, 1/10/2014 9:10:18 PM     (No. 9687564)

What has Sears or Kmart done to attract new customers? Kmart stores are half the size of Walmart, considerably less selection, generally regarded as lower quality and at a higher price.

Sears ...... Usually located in a mall, which by definition requires higher prices. My family religiously shopped at Sears for decades. Every appliance that we owned was Kennmore and every tool was Craftsman. Today, I can purchase a wider variety of tools and appliances at a lower price and more conveniently at any Lowes or Home Depot. Home Depot, Lowes and Walmart got me in the door by being convenient with a large selection of products and landed me as a customer with better pricing.

Unfortunately, Walmart has gotten so large that they effectively destroy any upstart retailer or even existing retailer. And they did this by giving the customers EXACTLY what they wanted.

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