Kmart shutting down stores

[mick silver]

Is it time to close Kmart?


The chain is losing money, and sales are sliding. Is there any reason for it to stay in business?


By Kim Peterson (http://money.msn.com/keyword.aspx?author=x3aa39d0d909e6ac64b8ffe1d60de5 992fcdc26e37b83f2eb) Jan 24, 2013 6:28PM



http://media-social.s-msn.com/images/blogs/00120065-0000-0000-0000-000000000000_469b5687-f4ab-4992-a2ac-46c322b7a161_20130124222204_Kmart_012413_RM_610.jp gSears Holdings (SHLD (http://investing.money.msn.com/investments/stock-price?Symbol=shld)) is trying to fix its operations and has made some progress along the way. But the company is being dragged down by Kmart, raising questions about whether that discount chain's time has come and gone.

Would Sears be better off closing Kmart? At the rate things are going, the answer is yes.

Kmart is stuck in a rut. Sales at its stores open at least a year fell 3.8% over the crucial holiday shopping season, The Wall Street Journal reports (http://online.wsj.com/article/SB10001424127887323783704578247762547817102.html?m od=WSJ_hps_MIDDLENexttoWhatsNewsFifth). Now it has just 0.6% of the nongrocery retail market. In the first nine months of its current fiscal year, the chain posted a $98 million operating loss and saw sales slide 5.5%.

We won't know for a while whether Kmart made a profit in 2012, but it lost money on an operating basis in 2011.

The Kmart stores that I've been to are remarkably similar. They're dirty. The shelves are cluttered, yet the customers are gone. Employees are nowhere to be found.

The Journal found a similar scene at a Kmart in Manhattan, where it reported abandoned carts full of merchandise, unevenly stacked towels and unfolded pajama sets lying about. "The tile floors looked as though they hadn't been mopped in some time, and clothes were piled in the corners of the dressing rooms," Dana Mattioli wrote.

Kmart stores in New Jersey took that a step further, selling expired infant formula and over-the-counter drugs. The chain will pay more than $300,000 in fines and be subject to inspections as a result.

Kmart used to fill an important role for budget-conscious shoppers. But those customers have many more places now that can meet their needs. Dollar stores sell groceries and household necessities. Wal-Mart (WMT (http://investing.money.msn.com/investments/stock-price?symbol=wmt)) has a bigger selection than Kmart, often at lower prices.

In fact, the Journal cited data showing Kmart's prices were higher than Wal-Mart's and Target's (TGT (http://investing.money.msn.com/investments/stock-price?symbol=tgt)) in five out of six items it checked at all stores.

Granted, that's a pretty small sample. But if that holds true and Kmart isn't necessarily cheaper than competitors, then what is Kmart's reason for existing? ............. Related Searches

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[chad]

they announced yesterday that mine is closing. sucks, because it was my secret source of $19 boxes of .270 ammo.

[mick silver]

but but chad are leader told us all how good things are getting , dont you remember . their will be more store to closing there doors this store i hope to find some deals . there one thing i have not see are any gun shop closing their doors ................The first Kmart (http://us.wow.com/wiki/Kmart?v_t=na&s_it=article.link) opened in 1962 in Garden City, Michigan (http://us.wow.com/wiki/Garden_City,_Michigan?v_t=na&s_it=article.link). Kresge died in 1966. In 1977, the S. S. Kresge Corporation (http://us.wow.com/wiki/S._S._Kresge_Corporation?v_t=na&s_it=article.link) changed its name to the Kmart (http://us.wow.com/wiki/Kmart?v_t=na&s_it=article.link) Corporation. In 2005 Sears Holdings Corporation (http://us.wow.com/wiki/Sears_Holdings_Corporation?v_t=na&s_it=article.link) became the parent of Kmart and Sears (http://us.wow.com/wiki/Sears?v_t=na&s_it=article.link), after Kmart bought Sears, and formed the new parent.In 1924 Kresge established The Kresge Foundation (http://us.wow.com/wiki/The_Kresge_Foundation?v_t=na&s_it=article.link), a non-profit organization (http://us.wow.com/wiki/Non-profit_organization?v_t=na&s_it=article.link) whose income he specified simply "to promote the well-being of mankind." By the time of his death, Kresge had given the foundation over $60 million. A strongly-committed prohibitionist (http://us.wow.com/wiki/Prohibition?v_t=na&s_it=article.link), he organized the National Vigilance Committee for Prohibition enforcement and also heavily supported the Anti-Saloon League (http://us.wow.com/wiki/Anti-Saloon_League?v_t=na&s_it=article.link) financially, though he later stopped contributions.[4] (http://us.wow.com/wiki/Sebastian_S._Kresge?v_t=na&s_it=article.link#cite_note-4)

[Cebu_4_2]

They took my $500 in stock before they first closed... fuckem

[Shami-Amourae]

they announced yesterday that mine is closing. sucks, because it was my secret source of $19 boxes of .270 ammo.

I never knew K-Mart had ammo. I'll have to check that out sometime.

[Rubberchicken]

If only they took bitcoin, that would save them. dumfuks

[chad]

I never knew K-Mart had ammo. I'll have to check that out sometime.

they don't have a lot, but mine has a little section back by the airgun and paintball stuff with maybe 10 different kinds.

[Shami-Amourae]

If only they took bitcoin, that would save them. dumfuks

I'm guessing that was a slam at us Bitcoiners? We prefer buying things online.
:)

I like buying ammo in stores though, anonymously with cash.

[Silver Rocket Bitches!]

If only they took bitcoin, that would save them. dumfuks

They should try it. What do they have to lose?

[Rubberchicken]

They should try it. What do they have to lose?

That's what I said! Then some bitcoinerette accuses me of slamming them.

For Shami-
http://findmeammo.com/walmart/ammo/22-long-rifle?zip=83302. They had some this a.m. use the site for whatever flavor you are looking for.

[Shami-Amourae]

They should try it. What do they have to lose?

For the record, if they did that I would shop there. I want to start spending my cryptos more than trading them. The next time I buy a computer component I plan on going to Tigerdirect and paying with Bitcoin. The thing I hate with Bitcoin and Litecoin though is confirmation times take hours sometimes, and that's not fun. I like with newer cryptos like Potcoin since they take virtually seconds to a couple minutes to confirm. Most of the newer cryptos have much faster confirmation times and this is the way it should be. The difference is night and day in speed.

[gunDriller]

Walmart, Target, K-mart - how many of these kind of stores do we need ?


as long as they don't close Trader Joe's. you need Trader Joe's Jamaica Jerk salad dressing to make decent vinaigrette.

the trick is, to mix in a small amount of Jamaica Jerk in with a slightly sweet vinaigrette, like a Blush Wine vinaigrette.

if Trader Joe's closes, my only cooking secret will be Baby Ray's barbecue sauce.

[End Times]

The (((controlled demolition))) of Sears/Kmart appears to be accomplished.

Great job, (((Eddie Lampert))). :rolleyes:


Sears may be down to its last 24 hours. Iconic retailer likely liquidates if no bid comes in tomorrow.

https://www.cnbc.com/2018/12/27/sears-may-need-to-liquidate-if-no-bid-comes-in-by-tomorrow.html

[woodman]

Kind of a landmark. A before and after. Look at what has been accomplished. Somebody somewhere are wringing their hands. Is there a term for wringing one's hands in satisfaction? It is an expression of gloating.

Who will they do next?

[Horn]

Who will they do next?

Not China!

Chilling Letter From Chinese Factory Worker Found In Kmart Halloween Decorations
Ashley Lutz Jun 13, 2013, 4:18 PM ET

http://www.businessinsider.com/author-of-kmart-factory-letter-found-2013-6

[End Times]

Kind of a landmark. A before and after. Look at what has been accomplished. Somebody somewhere are wringing their hands. Is there a term for wringing one's hands in satisfaction? It is an expression of gloating.

Who will they do next?

These controlled demolitions are all symbols. Sears was a symbol of America for over a century...of the average American family. The most overt destruction of a symbolic representation was the literal sinking of America in 2005:

https://en.wikipedia.org/wiki/USS_America_(CV-66)#Post_decommissioning_service

[midnight rambler]

These controlled demolitions are all symbols. Sears was a symbol of America for over a century...of the average American family. The most overt destruction of a symbolic representation was the literal sinking of America in 2005:

https://en.wikipedia.org/wiki/USS_America_(CV-66)#Post_decommissioning_service

USS America's crew were the ones who came to the aid of our distressed and betrayed servicemen on the USS Liberty after being attacked by (((our bestest friends in the entire world))).

https://en.wikipedia.org/wiki/USS_America_(CV-66)#Attack_on_USS_Liberty


At 10:30, two helicopters from America rendezvoused with Liberty and began transferring the more seriously wounded to the carrier. An hour later, about 350 mi (560 km) east of Souda Bay (https://en.wikipedia.org/wiki/Souda_Bay) Crete, America rendezvoused with Liberty. The carrier's crew lined every topside vantage point, silent, watching the helicopters bring 50 wounded and nine dead from Liberty to America. As Liberty drew alongside, listing, her sides perforated with rockets and cannon shell, nearly 2,000 of the carrier's crew were on the flight deck and, spontaneously moved by the sight, gave the battered Liberty and her brave crew a tremendous cheer.
America's medical team worked around the clock removing shrapnel (https://en.wikipedia.org/wiki/Shrapnel_shell), and treating various wounds and burns. Doctors Gordon, Flynn and Lieutenant Donald P. Griffith, MC, worked for more than 12 hours in the operating room, while other doctors, Lt. George A. Lucier and Lt. Frank N. Federico made continuous rounds in the wards to aid and comfort the wounded. Their jobs were not finished that day, for the next week and more, Liberty's wounded required constant attention.