7 retailers that are shrinking fast
As US consumers cut down on spending, some retail chains are feeling the pain -- and they have little choice but to shutter their weakest stores.
MORE ON MSN MONEY
VIDEO ON MSN MONEY
As far as I'm concerned Sears deserves the worst they can get - the company itself not the actual employees that do the real work. They treat their front line employees like garbage, don't pay them near enough to put up with the crap that's dished out to them and yet pay the "regional and district" managers much more money than they deserve for walking into a store what, once a month and think they know everything about actually WORKING in a store? And these "higher up" people don't have a clue as how to treat the people that actually do the work. I can't believe the people that run this company - Chairman Eddie Lampert? - actually lets this kind of treatment happen, maybe they are oblivious as to how their regional and district managers actually treat employees unless they were to be in a store and actually witness some of the harassment and belittling that goes on. Instead of selling all of his Sears real estate maybe Eddie should visit some of his real estate once in awhile and see what is actually going on instead of leaving it up to a bunch of flunkies they call regional and district managers.
Sears (and Roebuck) used to be a major player, I have all Craftsman tools and always shopped there - since the early 80's. They switched my sears card to a Gold card then to Citi Bank-at 24.99%. I got a separate offer from Citi for ZERO % for 12 months and then 12.99% thereafter, A call to sears customer service (thats what they called it) ended in them losing a 30+ year customer ! Too bad when they DO go under that the big whigs still walk away with a bonus- Thats whats wrong with America!!
I agree completely with mistylite. So many of us are working at low-paying, non-benefit jobs. Management is inept. People are being treated like little more than galley slaves, all in the name of the almightly corporate profit. It's a sad state of affairs when decent folks with a strong work ethic are relegated to minimum wage drudgery. Yet the corporate higher-ups, who are not marketing their companies successfully (probably too stupid to know how!), make millions a year.
What has happened to our country????
Eddie Lampert did not invest in Sears because he thought Sears was a great merchandiser. In the mid 2000's the real estate value of Sears locations was the driving force for the investment. The whole concept from the get go has been to extract value from the company through real estate divesture.
Selling Craftsman tools and Kenmore appliances was simply a means to an end while this real estate unbundling process was allowed to move forward. Sears employees were to be just pawns on the corporate chessboard until the real estate and brands were sold off which at that point...poof... they would be fired!.
Then the real estate Commercial Market crash came in 2008 which drove a nail in that money-making strategy forcing Sears to reconsider staying in business for a few more years to buy time until the commercial real estate market recovers. They don't invest in stores because that is considered throwing real value down the toilet. That is why the Sears experience of 1985 is the same as it is today-- a trip down memory lane providing an outdated and dull shopping experience.
I avoid Kmart as much as possible. It's the Radio Shack of the 80's - I have to play 20 questions to pay $2.99 for a stick of deodorant.
Do you have a rewards card, what is your phone number, would you like to sign up for rewards plus, would you recommend shopping here survey (NO), do you want the warranty... then wait for a 3 ft register tape in 4 pieces to print...
DATA PROVIDERS
Copyright © 2013 Microsoft. All rights reserved.
Quotes are real-time for NASDAQ, NYSE and AMEX. See delay times for other exchanges.
Fundamental company data and historical chart data provided by Thomson Reuters (click for restrictions). Real-time quotes provided by BATS Exchange. Real-time index quotes and delayed quotes supplied by Interactive Data Real-Time Services. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by SIX Financial Information.
Japanese stock price data provided by Nomura Research Institute Ltd.; quotes delayed 20 minutes. Canadian fund data provided by CANNEX Financial Exchanges Ltd.
RECENT QUOTES
Watchlist
MARKET UPDATE
| NAME | LAST | CHANGE | % CHANGE | |
|---|---|---|---|---|
| There’s a problem getting this information right now. Please try again later. | ||||
[BRIEFING.COM] The S&P 500 ended this week with a bang, roaring to a new all-time high on the back of stronger-than-expected economic data, influential leadership, and an ongoing appreciation for the Fed's monetary policy support.
The bullish bias was evident in premarket action as the S&P futures pointed to a higher start without the benefit of any definitive news catalyst. Stocks indeed benefited from a blast of buying interest at the opening bell on this ... More
More Market News
Currencies
| NAME | LAST | CHANGE | % CHANGE |
|---|---|---|---|
| There’s a problem getting this information right now. Please try again later. | |||





