KMart's imminent demise has been discussed here before, but CNN Money posted an update yesterday for their 2015 earnings report.

http://money.cnn.com/2015/06/08/investing/kmart-sales-decline-sears-eddie-lampert/index.html?iid=SF_LN

 

7 minutes ago, Achilles said:

Of course, I already lost 5 in the last few years

 

I have over a dozen still in my region and have only lost 2-3 in the Columbus, OH area.

11 minutes ago, exciter1 said:

I have over a dozen still in my region and have only lost 2-3 in the Columbus, OH area.

I'm sure the supplemental income they received from hosting weddings in the parking lots is what is keeping them open.

Losing both here, in a metro area of over 1m.

1 hour ago, lazuli16 said:

I'm sure the supplemental income they received from hosting weddings in the parking lots is what is keeping them open.

exciter's time warp suggests they will stay open approximately two years after the last ones close elsewhere...

1 hour ago, exciter1 said:

I have over a dozen still in my region and have only lost 2-3 in the Columbus, OH area.

Do you ever get anything worthwhile from the 2 remaining central Ohio stores?  I only rarely stop by and neither one has been good to me.

12 minutes ago, zskid00 said:

Do you ever get anything worthwhile from the 2 remaining central Ohio stores?  I only rarely stop by and neither one has been good to me.

I don't stop at those anymore.  I haven't been to the one in Grove City in years.  It's kind of out of the way and I'm usually pushing my time when I'm up there and hunting to any degree.

Noticed this little 'nugget' in the store closing article:

Quote

Moody's analysts warned last week that Kmart doesn't have enough cash or access to cash to stay in business.

Found the corresponding article, and it ain't pretty. Better cash in those points and coupons fast!

http://www.businessinsider.com/moodys-report-sears-and-kmart-2016-9

 

3 minutes ago, Phil B said:

Noticed this little 'nugget' in the store closing article:

Found the corresponding article, and it ain't pretty. Better cash in those points and coupons fast!

http://www.businessinsider.com/moodys-report-sears-and-kmart-2016-9

 

Once they close, that's a bunch of empty parking lots.  Pretty empty already, I guess.

4 minutes ago, exciter1 said:

Once they close, that's a bunch of empty parking lots.  Pretty empty already, I guess.

Just in case, I registered www.parkinglotweddings.com ....

40 minutes ago, Phil B said:

Just in case, I registered www.parkinglotweddings.com ....

Well played, sir. Well played. 

 

My order came from kmart today.  Only took 1 day and everything was packaged superbly.  I hope KMart stays alive longer.

I'm losing my main Kmart. They have more Lego than all of my other Kmarts combined and they run lots of sales on random sets. The sales along with all of the SYW coupons out there has been a gold mine. They even had a Little Caesar's pizza shop in the store! Totally bummed about this. Hopefully the other locations around me will survive for another couple of years. 

If you are hungry for SYW points, and you've made purchases before, here's a quick way to earn some extra:

https://static.cdn.responsys.net/i2/responsysimages/content/sears2/CHI-2734246-v16-Sears_Product_Review_Points_Offer_Terms_and_Conditions_1.3.16.pdf

You might need to get a promotional email to trigger the points (I just got one for a purchase I made last month) but never hurts to try out.

PS: Review needs to be 140 characters or more to count.

Edited September 21, 20169 yr by Phil B

The heck with more and better trained cashiers.  The heck with improving the inventory system, effectively advertising, or replacing the dingy environment.  We need more great R&D ideas like this.

 

1 hour ago, exciter1 said:

The heck with more and better trained cashiers.  The heck with improving the inventory system, effectively advertising, or replacing the dingy environment.  We need more great R&D ideas like this.

 

I saw that popping up a few weeks ago and thought - wow, there must be a redneck alternate reality somewhere where Amazon and Google are replaced with KMart and Sears (Apologies if that describes your neck of the woods, @exciter1 .... )

BTW: Already 40% off now - and they give you this product virtually for free with the $30 in points you'll be earning. a NO BRAINER

More Sears/KMart doom&gloom from CNN yesterday:

http://money.cnn.com/2016/10/04/investing/sears-bankruptcy-rumors-kmart/index.html

With some "praise" for Lampert:

Quote

But give Lampert some credit. He's kept the company afloat a lot longer than many had thought. I wrote a story about Sears bankruptcy rumors with the headline of "Tears for Sears" (I'm a child of the 80s. Sue me.) back in January -- of 2012.

 

Edited October 5, 20169 yr by Phil B

Adding on to the pile of bad news.  Looks like they lost jakks

http://www.fool.com/investing/2016/11/03/has-sears-holdings-really-confirmed-kmart-lost-a-m.aspx

Adding on to the pile of bad news.  Looks like they lost jakks
http://www.fool.com/investing/2016/11/03/has-sears-holdings-really-confirmed-kmart-lost-a-m.aspx

That's a smart move for Sears/KMart. When's the last time you saw someone buying Jakks stuff that isn't on clearance?

That's a smart move for Sears/KMart. When's the last time you saw someone buying Jakks stuff that isn't on clearance?

What's Jakks?
I'm serious.

1 minute ago, donbee said:

What's Jakks?
I'm serious.

http://www.kmart.com/search=jakks pacific

2 hours ago, exciter1 said:

That's a smart move for Sears/KMart. When's the last time you saw someone buying Jakks stuff that isn't on clearance?

Now that I think about it I'm pretty sure about 1/3 of my Kmart's toy clearance isle was that stuff.

I love it how KMart shows relevant sets as picture placeholders for their LEGO categories:

Granted, @exciter1 likely still has access to each of these sets in his stores, but for the rest of us ......

1 hour ago, exciter1 said:

Apparently there was a glitch on the Smart Sense products yesterday.  I guess it's fixed and they reclaimed the extra points earned.  Some guy said he spent $250 and received $2200 in points back initially.

 

They keep this up, they might need to sell the Kenmore line as well.
 

2 minutes ago, Miami Bomb Squad said:

They keep this up, they might need to sell the Kenmore line as well.
 

Their entire strategy seems to be:

Get loan for $0.5B from investors. Sell known brand you own for $1B+. Pay back investors to keep them happy, use remaining cash to live another quarter. Rinse and Repeat.

2 minutes ago, Phil B said:

Their entire strategy seems to be:

Get loan for $0.5B from investors. Sell known brand you own for $1B+. Pay back investors to keep them happy, use remaining cash to live another quarter. Rinse and Repeat.

Sad, but true, many Corporations apply this strategy.  Only ones making out are the Corporate officers.  
Creative accounting to hit target numbers, get bonus and fleece the investors.  

And we keep talking about how unscrupulous other countries are.