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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163Comments
Jan 15, 2013 9:55PM
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I will never understand how struggling companies pay ridiculously high salaries to their CEO's when they obviously haven't done their job.  Sears is a good example.  They have to close and sell off stores and take away all these jobs so they can pay $13 million a year to their CEO.  So they are paying $13 million plus for a guy to flush sears down the economic toilet.  I feel bad for all those loosing jobs because of corporate greed and stupidity. 
Jan 15, 2013 10:53PM
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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.

 

Jan 15, 2013 10:10PM
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Unbelievable. I agree completely. You know the sales and money is there' but it comes down to ; not saving money, but " how can executives keep raising their own salaries.... " Oh I know cut some jobs!!!
Jan 15, 2013 11:43PM
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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!!

Jan 15, 2013 10:18PM
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This has been a long time coming.  Sears has not cared about its customers for decades.
Jan 15, 2013 11:47PM
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You want to cry about overpaid CEO people, how about all the pro athletes and hollywood people??

Jan 15, 2013 11:06PM
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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.

Jan 15, 2013 10:50PM
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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? 

Jan 15, 2013 10:49PM
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I guess Jackie Chan was right about this country being the most corrupt country in the world!!!!  Changes need to be made with the way those top executives earn their salary and it is called firing them when they can't do their jobs!!!!
Jan 15, 2013 11:39PM
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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.

Jan 16, 2013 11:04AM
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I worked for Sears Holdings Co. (Kmart) for the last 23 yrs and lost my job last April because these greedy bastards don't know how to run a Co. Also worked the last 6 yrs without a raise because the Co. was failing, but the BIG SHOTS still got their big bonuses. They can all go to HELL!!!!!!!!!!!!!!!!
Jan 16, 2013 12:50AM
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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????

Jan 15, 2013 11:28PM
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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.

Jan 15, 2013 10:26PM
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I don't understand. I thought Obama and the great democratic people of America were creating jobs, not losing them??
Jan 15, 2013 11:10PM
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About the only thing Sears is useful for is Craftsman tools and maybe Kennmore Appliances. Anything else is just overpriced regularly with uncaring associates.
Jan 16, 2013 12:29AM
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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...

Jan 15, 2013 11:29PM
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Blockbuster should be a shining example to Corporate America. Treat customers horribly, overcharge, then overcharge some more. We revolted, you went broke. Maybe you should whine to Congress and blame it on The Pirate Bay.
Jan 15, 2013 10:37PM
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I wanted to buy a dinette set in Nov. I went to buy in Dec., but the price more than doubled.  I decided to shop else ware.       
Jan 16, 2013 11:02AM
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Sears once stood for fair (not necessarily the cheapest) price and exceptional quality.  Now the quality is completely gone.  Their appliances are bid out to the lowest cost manufacturer, and any semblance of quality is gone.  My Kenmore dryer makes holes in my clothes, my Kenmore Elite Refrigerator ice maker doesn't stop making ice when the tray is full (replaced twice), my Kenmore Elite dish washer's control panel is pealing off of the unit, and my Kenmore oven control panel cracked and the oven light will not turn off.  All of these items were bought new three years ago....never again will I buy anything from Sears.  Short term, short sighted profit decisions by Sears executives will lead to the complete demise of this once proud company.
Jan 15, 2013 10:32PM
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Best Buy starting to close underperform stores in 2013.
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