Sears/Kmart quickly disappearing

[ultrarunner]

Do you see the same for Walmart now that several generations are in the mix?

 

[rekees4300]

Sears never "sold" credit cards but it is their credit division that kept them alive this long.

Yes, technically they gave them away so they could make money on the finance charges. The point is they failed to focus on their core business which was merchandise. Tough to buy a lawnmower from their credit division.

 

[dmccarty]

What ^^^^^ mossroad said.

In early 90s i worked implementing web based services for where i worked. Everyone was against it. They were entrenched in their old ways. Managers were threatened by the concept, because this was way over their heads...

Often times that is what happens but not all of the time.

Back in the early 90's, IBM and Blockbuster video had a partnership to allow the on demand creation of music, video, and I think video games, in the store. Twas and interesting idea but it did not take off for some reason. Blockbuster was also buying some content companies so I think they saw the future but they still got steam rolled. Blockbuster could have been Netflix, they were going down that path, but it was too early for that to have worked. Sometimes the early adopters who see the future just don't make it because the idea is just too soon.

Years ago I read an interview of one of the CEO's of one of the big cable companies. He knew back then that the future of his company is as an Internet provider, not a company selling TV channels. He is right but will 5G or cheap, low orbit satellites destroy cable? I would bet that he is worried/thinking about these new technologies and their threat to cable, ie, his stock/wealth.

Later,
Dan

 

[rekees4300]

Retailing is a tough business. Either give customers what they want or you're toast.

10 years ago Blockbuster had 9,000 stores. Now they have 1. Sears will soon be in the same boat.

The last Blockbuster: 'I'm proud that we've survived' - BBC News

 

[ultrarunner]

I still have Blockbuster Gift Certificates... I tried to use it at the local store when we had one and was told they no longer accept them.

I know this is contrary to California Law but let it go... by the end of the month the store was closed.

 

[buckeyefarmer]

All video stores went out of business, there are still many department stores. Not a good comparison.

 

[goeduck]

The combination of Sears having bad management and then often being anchor stores in dying malls makes it doubly hard to recover. The old style mall with huge parking lots and no corner stores are a hard place for them to succeed in.

 

[tjkubota93]

Eddie Lampert, the CEO, should be fired and indicted for fraud for treating SEARS as a tax hedge for his Hedge fund. He just wanted the super valuable real estate holdings that sears had. He put the real estate holdings as collateral and then loaned SEARS working capital from his hedge fund. Once sears folds, all that collateral will be transferred to his hedge fund.

There is a special place in **** for him. It's all legal, but just look what he destroyed to get what he wanted.

Yep he did it, on purpose.

 

[rekees4300]

The combination of Sears having bad management and then often being anchor stores in dying malls makes it doubly hard to recover. The old style mall with huge parking lots and no corner stores are a hard place for them to succeed in.

The huge Sears store in the huge Cincinnati Northgate mall is closing. Size doesn't matter.

 

[sixdogs]

Do you see the same for Walmart now that several generations are in the mix?

Nope. They have a brilliant CEO and excellent managers. They are a little cautious but fast learners. The CEO of that company has saved tens of thousands of jobs and billions of consumer dollars by his savvy. This is why good CEO's get paid so much; they're worth it.