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Sears/Kmart

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Tuxedo Mark:
Back on the old forum, I often talked about my experiences working for Kmart (which merged with Sears in 2005, the merger being the brainchild of chairman Eddie Lampert, a Wall Street hedge fund manager with no previous retail experience that, after one person after another vacated the CEO position, decided to become the CEO himself), the pressure from management to sign customers up for the Sears credit card and the all-important Shop Your Way Rewards card, and other crap, and I supplemented these personal accounts with info from news articles about the company at large, which was doing poorly.

A lot of people, even back then, expected the company to go out of business soon. Well, it's still around but probably not for much longer (for real, this time). This pair of articles illustrates just how far that the company and the individual stores have fallen:

From the workers: http://www.msn.com/en-us/money/topstories/sears-workers-reveal-why-the-company-is-bleeding-cash/ar-AAiaq4S?li=BBnbfcL&ocid=UP97DHP

From the customers: http://www.msn.com/en-us/money/companies/it-was-a-ghost-town-shoppers-reveal-why-theyve-abandoned-sears-and-kmart/ar-AAiKhLa?li=BBnbfcL&ocid=UP97DHP

SAGG:

--- Quote from: Tuxedo Mark on September 12, 2016, 12:50:04 pm ---Back on the old forum, I often talked about my experiences working for Kmart (which merged with Sears in 2005, the merger being the brainchild of chairman Eddie Lampert, a Wall Street hedge fund manager with no previous retail experience that, after one person after another vacated the CEO position, decided to become the CEO himself), the pressure from management to sign customers up for the Sears credit card and the all-important Shop Your Way Rewards card, and other crap, and I supplemented these personal accounts with info from news articles about the company at large, which was doing poorly.

A lot of people, even back then, expected the company to go out of business soon. Well, it's still around but probably not for much longer (for real, this time). This pair of articles illustrates just how far that the company and the individual stores have fallen:

From the workers: http://www.msn.com/en-us/money/topstories/sears-workers-reveal-why-the-company-is-bleeding-cash/ar-AAiaq4S?li=BBnbfcL&ocid=UP97DHP

From the customers: http://www.msn.com/en-us/money/companies/it-was-a-ghost-town-shoppers-reveal-why-theyve-abandoned-sears-and-kmart/ar-AAiKhLa?li=BBnbfcL&ocid=UP97DHP

--- End quote ---
Sigh--how the mighty have fallen. :(  Wal-Mart's really wiped out a lot of iconic name retail stores, and is still in the process of doing so. Sears screwed itself up when they ditched their catalog business.

Quick fact: I didn't know Sam Walton worked once for Kmart! :o They dissed him by not listening to his ideas to improve the business, he went rogue by starting his own business, and he more than got his revenge...

Cosmo:
Sears /K-Mart are on life support, but the prognosis for pulling through is kind of grim. Before the big box era Sears was king. I can still remember the annual toy catalog. It was the ultimate source for that list to Santa. Heck I think Santa Claus put it out.

Anyone remember Murphy Mart from the sixties and seventies? I worked at the one that opened in Bethel Park, PA in the late sixties. It seems primitive now, but it was cutting edge retail back in the day.

steveinthecity:
I miss the old "Complain about work" thread which was a pretty cool journal of Tuxedo Mark's day to day and weekly experiences as a retail sales associate.

And Cosmo, I remember Murphy's Mart.  It was an anchor along with Sears at my local mall.  I remember getting t-shirts printed there and they had a big selection of pop culture posters we'd always check out.  They had a lunch counter as well as the typical "five & dime" stuff ala K-Mart.

Tuxedo Mark:
Ominous article posted today. Apparently, Sears Holdings will announce its third-quarter results on Thursday morning before the market opens, and a lot of people are expecting the news to be really bad this time - especially amid some high-profile departures from the company in the middle of the holiday shopping season. They probably don't wanna be on the ship when it sinks, possibly early next year:

https://www.thestreet.com/story/13914558/1/expect-the-absolute-worst-from-sears-results.html

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