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Started By
Message
re: Sears down to last 24 hours
Posted on 12/27/18 at 5:26 pm to BluegrassBelle
Posted on 12/27/18 at 5:26 pm to BluegrassBelle
quote:
While online shopping plays a part, quality of Sears products were nowhere close to what they were even 15 years ago. And their stores were regularly an unmitigated shitshow.
I worked for Sears many years ago and back then, Sears was known for quality merchandise. Appliances, clothing, automotive, tools - none were better. But, they failed to react to Walmart's business model.
As they went down, they had to sell the brand names to stay afloat.
I genuinely hate to see them fail, but they are toast. Let them die. I do feel sorry for the retirees that will lose out after a lifetime of service. I read somewhere that the average age of a Sears retiree is over 80.
5
Posted on 12/27/18 at 5:29 pm to ElderTiger
I believe their pensions get picked up by a government program if Sears goes kaput.
It won’t be 100% of their benefits but it will be more than 0%.
It won’t be 100% of their benefits but it will be more than 0%.
Posted on 12/27/18 at 5:31 pm to ElderTiger
quote:
I do feel sorry for the retirees that will lose out after a lifetime of service. I read somewhere that the average age of a Sears retiree is over 80.
Most benefits are insured. Apparently a life insurance plan for retirees would go away.
ETA - the pension is pretty much fully guaranteed, for instance.
This post was edited on 12/27/18 at 5:32 pm
Posted on 12/27/18 at 5:31 pm to ElderTiger
quote:
But, they failed to react to Walmart's business model.
Not exactly. They bought out Kmart but kept the brands largely separated.
Posted on 12/27/18 at 6:02 pm to HailHailtoMichigan!
Sad but needs to happen. The place has been on life support for a while. As a child, every fall when we got the Wish Book was one of the highlights of the year.
Posted on 12/27/18 at 6:06 pm to HailHailtoMichigan!
Posted on 12/27/18 at 6:08 pm to Mr Perfect
where will I be able to buy my tough skins?
Posted on 12/27/18 at 6:09 pm to Bmath
quote:
Not exactly. They bought out Kmart but kept the brands largely separated.
Sears had been declining for a while but Kmart bought Sears in 2005 and that was pretty much the end of Sears.
Posted on 12/27/18 at 6:09 pm to LeroyBrown
quote:
where will I be able to buy my tough skins?
I need to go stock up on Stafford vneck white shirts from JCP before they go under. For some reason they are my favorite
This post was edited on 12/27/18 at 6:10 pm
Posted on 12/27/18 at 6:13 pm to Hangover Haven
I found a great deal on something at Sears in Picayune so I made the drive from Mandeville to pick it up. The parking lot and store looked like a ghost town and this was about 5 days before Christmas.
Posted on 12/27/18 at 6:18 pm to HailHailtoMichigan!
That Sears retirement/pension plan from back in the day bankrupted the company. Their retirees literally didn’t die off fast enough.
Posted on 12/27/18 at 6:30 pm to ElderTiger
quote:
But, they failed to react to Walmart's business model.
I recently spoke to a very old guy that was very successful back in the day with a regional chain of department stores.
I asked him about Wal Mart.
He told me Wal Mart wiped him out because he could compete with them but couldn’t make any money doing it.
Wal Mart seems very nimble and isn’t going to be taken out by Amazon.
Wal Mart adapted.
Sears did not.
Posted on 12/27/18 at 6:35 pm to HailHailtoMichigan!
Lots of blame for Walmart, but Lowe’s/Home Depot and Best Buy took away the purchases that I would usually make at Sears, not Walmart. Mainly tools, lawnmowers and TVs/appliances
Posted on 12/27/18 at 6:37 pm to chinhoyang
Where’s the culcha going to get the big horse polos from now?
Posted on 12/27/18 at 6:44 pm to HailHailtoMichigan!
When Sears started replacing full time commissioned sales people with part timers who knew nothing about the product they were selling and didn't give a rats arse if you bought it or not, the collapse was bound to happen. I saw the beginning of the end many years ago.
Posted on 12/27/18 at 6:48 pm to Traveler
Same thing happened to Circuit City.
Posted on 12/27/18 at 7:08 pm to slackster
quote:
The fact they employ more than 68,000 is shocking to me.
And out of that, there's probably less than 5000 full time employees getting benefits.
Posted on 12/27/18 at 7:09 pm to MF Doom
What would make you ask that? I could maybe understand JC Penney.
Posted on 12/27/18 at 7:17 pm to ElderTiger
My dad retired from Sears in 2000. They were a good company to work for when he started in the early 70’s.
It’s sad that they are on their last legs . I can remember the Cortana store jam packed during the holidays. He would be sad if he saw how the company is being dismantled now.
It’s sad that they are on their last legs . I can remember the Cortana store jam packed during the holidays. He would be sad if he saw how the company is being dismantled now.
Posted on 12/27/18 at 7:18 pm to Traveler
quote:
Traveler
You hit the nail on the head. My dad said that long before he retired.
This post was edited on 12/27/18 at 7:19 pm
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