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150 Sears & Kmart Stores Bite The Dust

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Meandering

Elite Member
Joined
Feb 26, 2006
Professional Status
Real Estate Agent or Broker
State
Pennsylvania
Add Macy's to your list also.
 

Tom Woolford

Elite Member
Joined
Nov 20, 2005
Professional Status
Certified Residential Appraiser
State
Florida
The few times I ventured into K-marts around here, I found them poorly stocked, poorly staffed, and generally dirty. I'm pretty sure I know why they closed ours.
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
Just surprised the one here remained open as long as it did.
 

AMF13

Elite Member
Joined
Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
California
Last week I was in hardware, this week I am in shoes. :leeann2:

 

Fernando

Elite Member
Joined
Nov 7, 2016
Professional Status
Certified Residential Appraiser
State
California
Sears, Kmart, JC Pennys, & Best Buy need to get their act together. They don't know how to compete. How? If they don't know how to compete against Target or Amazon, they will eventually go bankrupt. Just like appraisers, they need to adapt to survive. Last time I bought something from Sears was one of their stores closing in a major mall. And even their clearance sales were not that cheap. Consumers know their prices even at their discounted clearance prices.
 

Obsolescent

Senior Member
Joined
Jul 6, 2004
Professional Status
Certified Residential Appraiser
State
Minnesota
Many retailers are hurting and so are malls. I have to admit I'm part of the problem as I haven't been to a mall in a few years. 100% of my Christmas shopping is done on-line; mostly on Amazon and I've done that for the past four Christmas seasons. Kmart tried to compete earlier with the "Ship my Pants" ad campaign, but that seemed like the last notable push from them. Amazon's delivery is quick and efficient. They now have lockers in grocery stores so you can pick it up in a secured locker if one is worried about their package being pirated off the porch. Not me...I'll take the chance. :)
 

Fernando

Elite Member
Joined
Nov 7, 2016
Professional Status
Certified Residential Appraiser
State
California
Over the holidays, I went to the mall a lot. It's nice to see, hear, experience the shopping but I didn't buy anything from Sears, JC Penney, Khols, or Kmart. Young people don't go to these stores. These stores need to change just like appraisers needed to change in current environment. I did more online shopping but I don't like packages dropped in front of my door. UPS or FED Ex just knock... sometimes not even knock... and leaves.

The mall I regularly go to is expanding. It's so crowded. After Black Friday I couldn't find parking and left. If malls have right stores and dining experience, people will come. Outlets are doing well but some stores' quality are not the same. Small retail stores in local streets are doing worst.
 

Mark K

Elite Member
Joined
Jan 27, 2004
Professional Status
Certified Residential Appraiser
State
Indiana
What's always amazed me is the sheer volume of inventory that many of these places carry. I swear that the local ACE hardware store has at least 5-10 of everything hanging on the pegs. This has to cost somebody to carry this amount of stuff. I know that retailers often don't pay immediately for inventory but still, there's a cost to carry it and someone ends up paying. I'm thinking its probably the customer.

If I never go to another mall again, its fine w/me. I did about 90% of my Christmas shopping from home sitting in my Lazy Boy chair. Going out fighting the ice/snow/crowds/traffic does nothing to help my season spirit.

A lot of brick/mortar stores are gasping their last breaths. Good riddance.
 
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