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.
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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!!
You want to cry about overpaid CEO people, how about all the pro athletes and hollywood people??
Hold on I thought the economy was improving. Thats alot of closings and lost jobs, however Washington will continue to tell us the unemployment rates are going down - yeah right well I guess were getting what we voted for.
Maybe I am just being afraid of change but, doesn't it seem like something good and fundemental is being lost by our nation, or our culture, when iconic stores like Sears close down?
Most CEO's of every company are drastically overpaid. They don't understand who is the back-bone of their respective companies. I use the U.S. Post Office as a prime example.
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...
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[BRIEFING.COM] The major averages began the new trading week on a slightly lower note with small caps leading the weakness. The Russell 2000 shed 0.3% while the S&P 500 slipped less than a point with six sectors ending in the red.
Equity indices began the day in negative territory with only the Nasdaq (-0.04%) making a very brief appearance in the green. After sliding through the first hour of action, the major averages reversed and spent the remainder of the session climbing off ... More
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